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We’re all watching the economic indicators closely. Will companies that lay off workers pre-emptively need to pay more for talent when they need to recruit? The current talent market is challenging, and I’m not sure that I have all the answers. Companies are starting to lay off highly compensated staff who might have been hired during the recent quest for talent while still hiring for critical staffing shortages. We are navigating unprecedented times – at the Clearinghouse, we worked hard to manage through the pandemic and not take negative employment actions. We avoided layoffs, reduced work hours while still proving merit increases, and kept our staff employed. Some tough short-term decisions – in particular around our 401k match – and a focus on employee safety and wellbeing ensured we could keep everyone employed.
Bridget, it has been such a pleasure being able to interview you on this important subject. In closing, would you tell me what Clearinghouse has done around comp and benefits? Among the things that the Clearinghouse did in 2022 around compensation and benefits included a 4% across the board market adjustment in March for all staff, an increased target merit budget for all staff in July, and merit bonuses were also awarded to top performers. We did a holistic salary range review with a third-party consultant to ensure our salaries are competitive with the market (and additional adjustments will be made if they are warranted). We reinstated a competitive 401k employer match of two for one. We have a generous leave program, including three weeks of vacation after the first year based on service and it increases up to almost six weeks over time. Employees after 10 years of service can participate in our vacation buyback program. We pay 100% for short-and long-term disability insurance. And we also offered a new low-cost healthcare plan that is free for employee coverage. We added more options for those who might want a lower cost option for themselves and their families. Today’s dynamic business environment begs for additional insights into why we have experienced unexpected, tumultuous workplace upheaval. Total rewards as it relates to employee engagement will continue to be a significant focus as we move into 2023 and beyond. Ignoring it now will result in giving rise to employee flight risks, compromised employer brands, and decreased business opportunities.
Amy Schabacker Dufrane, Ed.D., SPHR, CAE, is CEO of HRCI, the world’s premier credentialing and learning organization for the human resources profession. Before joining HRCI, she spent more than 25 years in HR leadership and teaching roles. She is a member of the Economic Club, serves on the Wall Street Journal CEO Council, is a member of the CEO Roundtable, and is on the board for the Columbia Lighthouse for the Blind. Amy holds a doctorate from The George Washington University, an MBA and MA from Marymount University, and a BS from Hood College.
CERTIFICATE IN DIVERSITY AND INCLUSION IN HR MANAGEMENT
The three courses comprising our certificate were developed in accordance with the International Organization for Standardization’s guidance on diversity and inclusion for organizations (ISO 30415:2021).
• Fostering an Inclusive Culture • Assessing Diversity and Inclusion • Hiring and Retaining Diverse Talent
Earn 12 general HR credits towards any of HRCI’s eight credentials, including SPHR® and PHR® .
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