Task 7: Reshaping Compensation Management- Efficiency vs. Motivation/Involvement In this unprecedented COVID-19 world, employers may need to consider layoffs, furloughs, or even golden handshake to get through to the other side (whenever that comes). As the situation is not going to recover overnight organizations are considering restructuring their compensation plan to subsist during this pandemic. Rapid changes in the nature of work are adding new demands and pressures on compensation strategies and programs. As a consequence, many organizations are stuck in a seemingly endless cycle of compensation reviews, reforms, and rollouts. To take bold action in the face of uncertainty, many organizations were forced to cut salary rise, increment, commission and other monetary rewards. On the contrary, some business leaders are arguing that without proper implementation of attracting compensation plan and offerings it is hard for organizations to keep employees motivated and involved in the post Covid-19 era as more or less almost every worker in this world will be affected economically due to this pandemic. So, one of the greatest challenge lies ahead of HRM is to find answers on how to restructure reward policies so that the are efficient yet effective for motivating employees. Your tasks are: 1 To study and illustrate how compensation was affected due to Covid-19 in different organizations. 2 To identify potential strategic options for reward policies to overcome the loss caused by Covid- 19. 3 To elucidate challenges of HR department to formulate compensation plan, which will be efficient, yet enable to motivate employees.