Appraisals 2021: Impact Of The Pandemic On Pay Raise And Employee Experience
Every dream or goal that people had expected to achieve in 2020, have been shifted to 2021. As the calendar flips yet another page, it will instill hope and pave way for newer dreams - in their personal as well as professional life. And if there’s anything particular looming in every employee’s mind on the corporate front, it’s about their appraisals in the coming year. What will appraisal 2021 be like, is the big question especially since 2020 crushed the hopes of getting a pay raise for many. Moreover, the economy still hasn’t picked up, given that we’re still in the middle of a pandemic - with more countries going back into a lockdown. Looking into ensuring a positive employee experience during these volatile times is extremely crucial.
What Pay Raise Trends And Surveys Say About Appraisals In 2021
With the pandemic hitting us during an already slowed down economy, organisations in India may not be too generous with their appraisals for this year. Aon Salary Trend Survey, after analysing data from 1050 companies in India says that salaries may see an upward trend in 2021. Although, this is something that will vary depending on the sectors that saw a rise or fall during the lockdown - transport and logistics along with many other sectors faced a lot of challenges and are in an economic slump. At the same time, performance-based pay raise is the focus, rather than an overall staff appraisal as organisations are focusing on their internal benchmarks rather than on the external market. No matter what, the focus must always be on employee happiness and engagement.
Maintaining Employee Loyalty During Uncertain Economic Conditions
It’s possible that a company is facing challenges with respect to salary hikes, but ensuring that employees don’t bear the brunt of it all is what will keep them attached. For example, focus on other needs and that employees may have as the focus now needs to shift from pay raise to easing the stress that may come from the excess work on their plates. Maintain flexibility in terms of work policies, relax work hours in case of emergencies and encourage communication at every step in the way. Study the needs of employees from different backgrounds. Working parents might need child care assistance, while some others who are stressed on the personal front may require mental health support. Measures taken in this direction will help retain employees by instilling faith in them. This will not only ensure employee happiness, but also employer branding.
HR Department: Aims And Hope
Pay raise, and other employee perks and benefits is one thing but the HR team also needs to consider what they will do differently in the coming year. Ensuring employee safety as the coronavirus shows no signs of disappearing, making workspaces compliant to the need of the hour and establishing an effective internal communications plan to keep everything going seamlessly should be the aim. Conducting regular surveys, having impactful one on one conversations with employees, considering their feedback etc. is what will keep them going. After all, maintaining company culture is crucial towards shaping a happy employee experience.