Coronavirus Compensation Survey Results

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Inside this whitepaper:

  • How compensation, workforce, and benefits have changed since the COVID-19 outbreak.
  • How the Coronavirus has affected compensation across different industries positively and negatively.
  • How the Coronavirus will have an economic impact on future compensation.
  • If these changes will permanently affect pay or if these are only temporary measures.
Between April 1 and April 15, 2020, ERI conducted a survey of organizational responses to the Coronavirus (COVID-19) outbreak. During that time, ERI gathered responses from 648 organizations, asking about compensation information and how they expect the Coronavirus to impact future compensation decisions.
This white paper is split into four sections: Compensation Changes, Workforce Changes, Benefits and Permanence, and Demographics.
Overall, across all industries, 6.6% of organizations are increasing compensation, 49.7% are continuing as planned, 10.5% are freezing pay, and 14.8% are reducing compensation.
Overall, 66.3% of organizations are not making changes to their workforce, 5.3% are increasing, 23.2% are decreasing, and 5.3% selected “other.”