Recessions are never fun or easy to talk about. With layoffs at major companies driving headlines, it is easy for candidates, new hires and tenured employees to feel nervous about their job stability. Many people will call on their HR leaders to address concerns during these times, clearly communicating expectations for salaries and benefits is going to be imperative to your current and future workforce. Being prepared to handle any type of economic situation is going to be an HR best practice. That is why Breezy HR, 15Five and Checkr have rounded up a great panel of experts to discuss the top 5 Ways to Handle Employee Compensation and Benefits, along with Total Rewards during a Recession.
Our panel of experts will talk through:
Best practices when it comes to writing job descriptions.
How to navigate new hire compensation and benefits
How can you still reward top performers during a recession?
Communicating total rewards to candidates and employees
Retaining employees when budgets are tight.
Major Takeaway:
" When it comes to rewarding top performers if the budget isn't there, there are other ways to create recognition and retention outside of a bonus or commission. Maybe it's a personalized gift or something more specific to the individual. Also, it's not always about money, it’s also about how people feel. Do they feel valued and appreciated in their role? Do they feel respected and supported? That goes a long way."
You can watch the Breezy + 15Five + Checkr Webinar that was recorded on Tuesday, September 12th, 2023, 10am PT | 1pm ET.