compensation and employee benefits : modern trends and change in trend, key areas to change, post pandemic changes

1. Current Trends in Compensation &
Employee Benefits
By D E B A R U N P A U L

2. Compensation &
Employee Benefits :
modern trends
• Skill based pay
• Broadbanding
• Comparable worth or
pricing method
• Cafeteria approach
• Variable pay plans

3. Pay for performance
2010
The emergence Of
total rewards
2011
Emergence of short
term and long term
variable pay
2012
The rise of non Cash
benefits
2014 Existing
compensation and
benefits trends
2016-
Story of Decade : A change in compensation
& benefits trends

4. Key Areas
To change the
Compensation
and benefit
plans
Agile vs annual compensation
Institutionalize and
incentivize total rewards
Traditional benefit vs
personalized benefit
Opacity vs Fairness in
compensation

5. Post Pandemic
changes in compensation and
benefits plan
Restructure pay for remote working
Companies that do right, do well
Differentiate rewards for critical digital talent
01
02
03
04
05
Protect Employee data
Measure ROI on compensation spending

6. 64.2
%
of orgs plan to give base pay
increases in 2021, a continuation
of 2020 when only 63.7 percent
of organizations gave pay raises.
80.4%
of orgs say that engaging and retaining talent
– not maximizing payroll – is how they
determine pay.
65.3%
of orgs say that given the events of 2020, changing
their compensation strategy is important in the next
12-18 months. ea.
75.6
%
54.6
%
of orgs say they either have a
compensation
philosophy/strategy or are
working on one – a 6 percent
increase from previous years.
of orgs want to be transparent
and share pay ranges with
employees, but only 33.6 percent
share pay ranges currently

7. Thank You!