Just a quick blog to address the issue currently on everyone’s mind. It seems certain that COVID-19 will have an effect on most companies’ financial and operational metrics in 2020, and a dramatic effect on some companies. Many companies now build in flexibility to the performance metrics they set (since the elimination of the straightjacket rules of 162(m)). For others, it may be early enough in the compensation setting process to add this flexibility, as fellow blogger Lynn Jokela wrote last week, citing a blog from Willis Towers Watson.
So please add this to your growing list of action items related to COVID-19.