No. What I said. *Assuming that the speed stays the same*, as you load the shaft, the back EMF stays the same. The *current* goes up, and with it the IR component of the voltage.
With clever enough IR compensation, the back EMF can be recovered intact, and used for speed control.
There are time-honored analog ways of doing this, which usually require fine tuning under varying load conditions.
Modern drives frequently have an "autotune" facility, which removes the field excitation, so the motor does not revolve (maybe you have to lock the shaft as well, if the poles and/or frame are badly retentive), then runs the armature current up and down,and calculates and stores the IR characteristic automatically.
With small motors, say quarter-horsepower down, you can usually get away with ignoring IR, unless you want close speed control.