COVID-19 Pulse Survey on Rewards and Workforce Strategies Today - RESOURCES

RESOURCES

COVID-19 Pulse Survey on Rewards and Workforce Strategies today.

CnetG Asia supported our partners, AON to run a pulse survey on Adjusting Total Rewards Programs, Workforce Strategies and Sales Force Effectiveness Practices in Response to COVID-19 with our clients in South East Asia.

This initiative was in line with our endeavour to support clients with business information that will enable them to make better decisions in navigating HR strategies through the crisis.

The survey attracted 1889 companies across multiple industries in the Asia Pacific, Middle East and Africa regions.

We are happy to share the latest global pulse survey results published by AON on a complimentary basis, whether you participated in the survey or not.

To download the full report, please click here.

Study Highlights

Compensation costs: Companies have generally transitioned from a ‘cautious’ approach to compensation-based cost control measures to more ‘active’ approach, with more than a quarter of participants now reporting cancelling or freezing non-statutory base salary adjustments or merit increases until further notice
Health & Benefits: There has been an increase in the number of companies who have reported to have encouraged their employees to take previously accrued paid time off or avail unpaid leaves
Retirement programs: Organizations companies are in a ‘Wait and Watch’ approach. Most organizations do not report taking actions related to retirement
‘Risk’ Pay: A significant proportion of Participants (50%) have reported paying a compensation ‘Risk’ premium to roles which cannot be transitioned to Work from Home programs
Workforce Plans: Organizations report a very guarded approach to future workforce plans with only 16% reporting to have an unchanged hiring plan in the context of the outbreak. 47% reported continuing hiring for key positions or replacements while 27% have frozen recruitment.
Virtual Employee Processes: There is a significant push in organizations to the exploration of different working models –turning different employee processes ‘Virtual’ is a top priority
Communication: Keeping employees updated at all times on actions taken on health, safety and business continuity is a top priority

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