The Institute of Human Resources and Management Practitioners (IHRMP) has suggested to organizations whose revenue stream have adversely affected as a result of the COVID-19 pandemic, to consider deferring the annual Cost of Living Adjustment (COLA) and salary increment for employees.
“Organizations that may experience a period of drastic reduction in revenue and/or have been operating largely with loans/overdraft may consider, where applicable: Deferring or delaying Annual Cost of Living Adjustment (COLA) and merit salary increment and Deferring or Reducing Annual Bonus,” it said.
However, the Institute urges that any deferred payment activity should be done in good faith, based on fact and figures and transparent communication.
The proposal was expressed in the Institute’s HR Guidelines for HR Management in the Workplace amidst COVID-19 pandemic. The guidelines aim to assist Human Resource practitioners in the country to mitigate the negative impact of COVID-19 pandemic on their respective organizations.
According to the new IHRMP guidelines, due to the present uncertainties and anxiety among employers and employees, there is a need for testing stress levels and ability of practitioners to stay stable and resilient in current times.
The eight point guideline covers areas including Workforce Management, Awareness Creation, Counselling Services for Employees, Reduction of Employee-Client Interactions, Staff Training, Benefits/Leave Management, Salary/Incentives and IHRMP Support Services Help for HR Practitioners.
While recommending that HR managers facilitate a review of current working arrangement and HR policies and procedures to accelerate the institution of Flexi-Working, Working from Home, Remote working or teleworking arrangements as well as explore to select and invest in fit-for-purpose cost-effective technical support systems including digitization and information technology, it then advised them not only to delay recruitment but also decrease outsourcing arrangement to enable a productive job sharing structure.
Benjamin Nana Appiah/ adrdaily.com