The effects of the recession continue to impact pay, benefits and job prospects for employees around the globe, according to the findings of Hay Group's just released Reward in a downturn study.
Select overall findings include the following:
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Executive pay seems to be hit hardest but job restructuring with an aim to reduce staffing levels is highest for white collar employees.
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A range of HR programs are hitting the chopping block.
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Most short-term incentive plans are paying out at levels below target.
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Long-term variable pay value has dropped significantly.
And yet, most participating employers report that talent management remains a high priority for their organizations.
Compensation Cafe contributor Becky Regan provides her own detailed look at the findings of the Hay study: click over to read her post.
Image: Creative Commons Photo: "Blue Marble (Planet Earth)" by woodley wonderworks
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