REBA Research #4: Ways in which the coronavirus crisis is reshaping pay, bonus and employee benefits decisions
Many employers have had to review their pay and bonuses strategies due to the largest impact on the economy since the two world wars. They have also had to adapt their employee benefits offerings to meet new demands of employees working from home, increased concerns about mental and social health, fears about physical health and safety.
This survey covers:
- The impact of the Covid-19 crisis on
- reward and benefits budgets
- reward and benefits teams
- employee and executive bonuses
- workplace pensions
- Covid-19-related benefits
- the usage of wellbeing benefits
- the usage of insurance benefits
- the usage of social wellbeing benefits
- leave and holiday policies
- Use of the Coronavirus Job Retention Scheme
It conducted a snapshot survey between 9 June and 17 June 2020, to gain fast-track insight into decisions about pay and benefits being taken by employers in response to the huge economic impact of coronavirus and COVID-19 on UK and global businesses.
REBA received 138 responses to the survey from its members, including organisations such as BT, Coca-Cola, Diageo, IHG, John Lewis Partnership, Kier Group, Manchester United Football Club, National Grid, National Trust, Ocado and TUI Group.
In total, the businesses that responded to the survey represent more than half a million employees, across industry sectors including financial services, technology, retail and engineering. Around four fifths (79.7%) of respondents were from the private sector.
This is REBA’s fourth survey related to the pandemic crisis. The first was conducted between 17 and 19 March; the second between 31 March and 6 April; and the third between 28 April and 5 May 2020. These are available to download from: www.reba.global/research.