The L-Blast | January 2021
Dear All,
Happy New Year to all of you. We hope the year is off to a good start for everyone. Here at NFPCC we are happy to start the year and are hitting the ground running, excited to help clients solve challenges.
In this first L-Blast of 2021, we are covering an emerging hot topic in the world of compensation. As many workers continue to work remotely and as some companies have already announced this will be a permanent measure, the question of compensation in remote work environments is top of mind. In our featured article below, we unpack some of the hot-topic approaches being considered to aid in determining remote employee compensation.
The next article offers some considerations for setting compensation for employees who have relocated. While the predominant model seems to be based on cost of labor determined by location, employers will need to carefully consider the job itself and the skills necessary to perform that job to arrive at the right approach.
The final piece describes some possible methods for setting remote worker’s pay and offers some good insights and additional resources. We hope you find these articles helpful, but don’t hesitate to contact us if questions arise.
We are excited about a new addition to our L-Blast starting next month and continuing quarterly – a “Did You Know” section with some of the origins of key areas in compensation most practitioners and clients probably don’t know about. My hope is to share valuable knowledge I have gained throughout the years in my career.
Lastly, our midstream and upstream surveys launching April 1st. Get in touch with us if you’d like to participate. As always, let us know if there is a particular subject you’d like to learn more about or if you have any questions about the topics covered in this L-Blast.
Sincerely,
The NFPCC Team
Compensation in a Remote Work Environment
Over the last 10 months, we have watched many companies across the US begin to shift from a traditional work landscape to a “work from home” environment. The cause? An on-going global pandemic. What appears to be one of the greatest human capital management endeavors in a generation, recent events have prompted remote work opportunities faster than at any other point in time.
READ MOREShould Remote Workers Who Relocate Be Paid Less?
New complexities have arisen from the evolving shift to remote work, and one of the most contentious centers around pay. As more organizations embrace a work-from-anywhere model, some employees are deciding to relocate from expensive cities like San Francisco and New York to more affordable parts of the country. Some employers are considering paying them less.
3 Methods to Determine Pay for Remote Workers
The COVID-19 pandemic has suddenly and significantly increased the number of remote workers across a wide spectrum of jobs and locations. Any job that can be done remotely has been done remotely for many months. While much of the country is in some stage of reopening, many remote workers have been keeping productivity up for several months.
READ MOREWe want to hear from you!
We want to hear from you!
Interested in a Particular Topic? Let Us Know!
Our goal is to provide our readers with helpful and insightful content. Let us know if there’s a particular subject or industry you would like to learn more about and we’ll do our best to include it on a future L-Blast.
NFPCC’s 2021 Midstream & Upstream Surveys Launch April 1st
Participate in NFPCC’s Midstream and Upstream Industry Compensation surveys and keep your programs competitive. Gain access to the latest benchmarks ranging from administrative support to executive C-suite in both corporate and technical roles, inclusive of actual total direct compensation and target total direct compensation. Click below to learn more or contact Josh Whittaker at 281.378.1368
Compensation Discussion & Analysis (CD&A) Disclosure Preparations
As we start preparing for proxy season, NFPCC is ready to assist you in the development and overall structure of your CD&A disclosure. Leveraging extensive experience and knowledge of real-time best practices in the evolving shareholder communication platform, our consultants will help you craft an effective message to your investor audience while fulfilling SEC requirements.
CONTACT US BELOW TO GET STARTED!
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