Page 120 - Appreciating Organization's Biggest Assets

management were prohibited by and employee engagement. Recent
the Wagner Act, union behavior decades have seen few advancements
was not. The public demanded that in pay, and neither employers nor
Congress pass legislation that would employees have been sufficiently
limit and regulate union behavior, dissatisfied with the current system
echoing the calls for trust busting to demand significant changes.
heard at the turn of the century. However, the COVID-19

The Labor Management Relations pandemic, which has severely
(Taft-Hartley) Act, which was impacted businesses and people’s
enacted by Congress in 1947 as an finances over the past 18 months,
amendment to the Wagner Act, has compelled American businesses
outlawed unfair union tactics like to reconsider how they pay their
jurisdictional and sympathy strikes workers. According to 76% of
and featherbedding. Additionally, compensation leaders, the pandemic
the Taft-Hartley Act imposed has caused their company to change
limitations on the management of its compensation strategy. A third
unions, the terms of contracts, and (32%) have substantially changed
health and safety protests. However, their approach.
two court cases that would broaden You are likely already aware of or
unions’ bargaining scope to have already made some of these
cover employer-provided benefits changes to the pay plan. At the
followed the passage of the Taft- beginning of the epidemic last
Hartley Act, which had previously year, businesses were forced to cut
reeled in union authority. salaries, bonuses, and other benefits
76% of businesses have altered due to the shaky financial situation.
their pay plans as a result of Salaries have grown at the fastest rate
COVID-19. Although rising wages in forty years, despite the economy’s
have dominated the news, the recovery in 2021 and the fact that
pandemic has set in motion five there are still millions of open
other compensation trends that will positions. However, the COVID-19
permanently alter how workers are pandemic has accelerated five
compensated. additional compensation trends,
Compensation has largely been left which call for more attention,
alone in contrast to the rest of the according to our research.
continuously changing HR world,
which includes areas like hiring,
learning and development (L&D),

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