During this pandemic and beyond, managers must balance the company’s financial health with employee satisfaction. As a result, many stay awake at night wrestling with salary issues and how they can attract and keep great people with tight budgets.
Money is on everyone’s minds these days as unexpected expenses, salary cuts, and mandatory unpaid days off have come with the pandemic. According to new data, managers are thinking a great deal about paychecks during this difficult time. Nearly half (47%) say they are “very concerned” about their organization’s ability to retain valued staff, and 41% are “somewhat concerned.” About a third (39%) attribute their concerns to plans for pay reductions or salary freezes.