Compensation and Benefit Planning Executive
There are any number of factors that should be considered to determine the appropriate components and compensation-levels in your executive compensation and benefits package. From our experience, we would recommend the approach of determining the Board’s perspective as they evaluate the current realities of the following:
- Developing a compensation philosophy and supporting objectives
- The financial condition of the organization
- Market competition
- The salaries, benefits and related programs offered to the current executives
- Organizational strategic initiatives that will impact or determine the incentive pay component
- Local norms and political realities
Once these factors are considered, we assist the board in the development of a comprehensive compensation package, which in today’s market includes:
- Market based cash compensation
- Executive benefit plans beyond basic benefit coverage
- Variable pay or incentives
- Executive Perquisites
- Employment Agreements