Remuneration Review: Risk, Planning, and Modelling beyond the Covid Crisis

Abstract

Organisations that have survived Covid-19 jolts, uncertainties and lockdowns now require business intelligence and information system integration for decision support. Risks and market challenges have shifted as the pandemic progresses. Crisis management repositioning has left many firms cash-poor. Now, firms are facing labour shortages. Standard remuneration policies and practices need revision to keep core talent, stabilise teams from burn-out and to move forward strategically. This paper revises essential remuneration review considerations for crisis management in a new Covid-19 context. Current trends are discussed, as restrictions and pandemic uncertainties lift, allowing greater accuracy in risk scenario planning. Reliable data, fit for analytics and complex modelling, are making results more meaningful. The unique contribution of this research is the Covid-19 post-survival organisational perspective that can transform remuneration modelling. The scope extends beyond the governance level, and considers semantics and dynamic risk planning. Specific scenarios are updated from lessons learned from financial crisis management. Conclusions take a holistic view of how data can enhance remuneration practices to add value for organisations in the current Covid-19 climate. The paper advocates post crisis remuneration review that includes complex modelling with dynamic risk analysis for strategic planning in mid-term scenarios.