Author(s)

Zhouhao Bao, Yudi Ma

Corresponding Author

Zhouhao Bao

ABSTRACT

Compensation policies and benefits policies are keys to companies in various industries, and COVID-19 made companies to change their policies. In this essay, compensation policies and benefits policies from companies in different industries will be discussed and compared to find possible relationships between various policies and firms’ performance. Current research results will be studied, summarized, and analyzed and point out the significance and study direction of compensation policies in this essay. Examples and cases, which focusing on changes in compensation and benefits policies during the COVID-19 pandemic, are used to explain the importance and significance of studying compensation and benefits policies. We use data from various sources to decompose the increase in the correlation between compensation policies’ shift and its contribution to companies’ performance in various industries due to pandemic and factors which cause changes in incentives of labor in the companies. Both positive and negative cases will be discussed and an evaluation according to examples of both sides will be made, which shows that compensation policies shift can both benefit and harm the performance of the target companies.

KEYWORDS

Policy, Application, Industry