To thrive, adapt your compensation strategy for the times
Tips for responding to four 2021 trends that impact how you reward your team
Like just about every other conceivable organization, credit unions across the country felt economic, operational, and social impacts in 2020. The pandemic took its toll on credit unions, as we saw many move to greater virtual and remote services, as well as limit in-person branch transactions. More importantly, employees were impacted from a health and safety perspective, as well as a changing work environment.
With major changes to the way we work occurring as we enter 2021, we also find changes and trends affecting how we compensate and reward our employees. Some of the major compensation trends today affecting credit unions include:
- Remote work and workplace flexibility
- Upstream effects of a living wage and minimum wage increases
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