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Rewards Solutions Newsletter | June 2020

Although the humanitarian and economic impacts of the COVID-19 pandemic continue to loom large, in the past month, companies have largely shifted from reacting and responding to the crisis to planning for the future. This includes developing return-to-the-workplace strategies and thinking about the long-term impacts of increased virtual working and a more geographically dispersed workforce. To learn more about these trends, we encourage readers to take part in our latest complimentary global COVID-19 pulse survey before it closes to today. Join in here.

Also in the past month, we’ve seen another urgent issue erupt across the globe: a movement to condemn racism, in both overt and systemic forms, and to accelerate the achievement of greater equality and inclusion in the workplace and society at large. At Aon, we are deeply committed to these aims and to creating a diverse, inclusive and collaborative workplace culture (learn more here). We also know more can be done to make a meaningful, long-term difference reflecting the values and ideals of our firm.

As we, and companies around the world and in every industry, grapple with the challenges above, our featured story examines how boards of directors and C-Suite leaders can lead through crisis and build improved business resiliency by placing a greater emphasis on environmental, social and governance (ESG) issues. 
Today’s Crises Will Test Corporate Boards; Here Are Five Ways to Build Resiliency

Given the enormous risks presented by the pandemic and a renewed focus on social justice issues, boards that have begun to address ESG issues in a material fashion will be better positioned to navigate current and future challenges. We examine five steps boards can take to ensure they have the right processes in place. Read More

Read our new white paper on how to leverage workforce analytics to navigate three critical phases of responding to the COVID-19 pandemic.
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Employers Are Doing Their Best to Avoid Layoffs  

Originally published in WorldatWork’s Workspan Daily, we discuss strategies for managing costs to avoid layoffs or furloughs in the economic downturn.  
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As firms consider ways to adjust employee pay, the decision points around addressing outstanding equity awards are especially complex. Here are factors to consider by type of equity vehicle.  

As Technology Firms Adjust Pay and Workforce Plans, Lessons Can Be Learned from Prior Downturns  

While the COVID-19 pandemic is unique, lessons can be learned from the past to manage this crisis. We examine changes made before, during and after the past recession to see what applies today.  

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Need extra help with benefits?

When it comes to employee benefits in the U.S., employee preferences and corporate practices are changing rapidly to reflect the COVID-19 environment. If you’d like to learn more about our benchmarking tool, Benefit SpecSelect, or connect with a consultant for advice on a pressing issue, write to our team today.
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Where should business and HR leaders start when they see an opportunity to rethink their total rewards strategy? Survey your employees to determine what they value most.  
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Three Ways to Transform Your Sales Force to Survive a Downturn and Pursue Future Growth

During an economic downturn, sales leaders should focus on three critical areas to limit business erosion and support the development of long-term growth.
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Reimagining Sales Force Effectiveness in Turbulent Times  

The sales function faces unique hurdles at this time. We will discuss how firms can maintain sales force motivation in the face of accelerating economic headwinds, and consider mid-cycle plan adjustments while charting new territory. 

Date: June 18, 2020

Register Here


4 Ways to Leverage Workforce Analytics Through the Crisis  

To navigate economic challenges, companies need to effectively engage in a balance sheet management exercise in the short term. See our latest infographic on how to manage through attrition, create financial flexibility, identify critical roles and develop a return to workplace strategy. Read More



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About Rewards Solutions

The Rewards Solutions practice at Aon empowers business leaders to reimagine their approach to rewards in the digital age through a powerful mix of data, analytics and advisory capabilities. Our colleagues support clients across a full spectrum of needs, including compensation benchmarking, workforce and pay modeling, and expert insights on rewards strategy and plan design.