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April 8, 2021

What kinds of compensation do you plan to offer?

Imagine that you are an HR manager preparing a report for the executive team’s annual strategy meeting. Healthcare costs make up roughly 31% of your company’s payroll costs. These costs have risen faster than wages. You are preparing the report with the expectation that your unionized employees plan to negotiate a raise this year. Your company has not been performing well. Next year’s outlook is not much better. What kinds of compensation do you plan to offer? What do you plan to do to address those healthcare costs? Identify three things you can offer. Explain your choices.

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