How total reward packages were impacted by Greece's recession: Insights on employee benefit erosion and the gender pay gap

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

This research paper explores the impact of employee benefit reductions during Greece's 2012-2015 recession, which a third of survey respondents experienced. Recession-driven employee benefit cuts negatively affected women more than men, as women value benefits like childcare allowances the most highly. This introduces a diversity and inclusion dimension to recessionary impacts. A way of attracting and retaining female talent building and maintaining a self-managed rewards system with enough flexibility to suit employees' life priorities, regardless of their gender. Overall, private insurance like health insurance was the most valued benefit, followed by family friendly benefits.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2021), "How total reward packages were impacted by Greece's recession: Insights on employee benefit erosion and the gender pay gap", Human Resource Management International Digest, Vol. 29 No. 3, pp. 38-40. https://doi.org/10.1108/HRMID-02-2021-0036