Executive Compensation Services
Attract, retain and motivate the employees you need to execute your unique strategy. We can help with Compensation Services…
Most of our client relationships begin with a request to address a specific issue in the compensation area. In addressing the issue, our approach is like that of a good physician. We attempt to understand the overall health of the patient before prescribing a solution for a specific problem.
We prefer to start the problem solving process with an audit of the client’s overall compensation philosophy, policies, systems and practices. Each component is examined in light of the client’s financial and organizational well-being, and unique strategy and objectives. When the audit is accomplished and the big picture is known, a solution can be prescribed to address the specific problem.
The client is always involved in the problem solving process. It is the client who decides among the valid alternative solutions. It is the client who determines the pace and resources to be applied to the solution.
We, the consultant, provide the time, objectivity and expertise necessary to focus on the problem. We stay involved, until the problem has been resolved. We work on the problem within a determined budget, keeping the client informed of progress and expenditures against the budget.
Executive Compensation is a complex and sensitive issue. HP’s Board has a philosophy for paying Executives. Listen to Board members describe their philosophy:
Listen to what the Chair of Heritage Financial Corporation’s Compensation Committee says about the Committee’s job:
We are qualified to address all forms of compensation and how they can be mixed to provide you and your employees with the best overall solution to your unique needs.
The following are some of the compensation issues Matthews, Young – Management Consulting has addressed in recent client engagements:
- Compensation Strategy and Policy Development
- Stock-Based Incentives
- Deferred Compensation and other forms of Long Term Executive
Incentive Compensation Design and Administration
- Individual and Team Alternative Compensation Plans
- Directors Current and Deferred, Cash and Stock Compensation
- Fairness and Reasonableness of Executive Compensation
- Job Description and Evaluation System Development
- Salary Administration System Development
- Performance Evaluation and Salary Increase Processes
- Benefits and Perquisites Review and Programming
- Incentive and Bonus Compensation Design and/or Administration
- Compensation Survey Development and Administration Compensation Budgeting and Control Modeling
- Performance Evaluation for Incentive and Bonus Distribution Systems
Annual Compensation Services
Many of our clients engage us on an annual basis for maintaining and/or administering their compensation policies and practices. When dealing with executive compensation, we act as an adjunct to the Board’s Compensation Committee. For staff compensation issues, we work for senior and Human Resource management. The service provides for the:
- Pricing, evaluating and slotting into a formal structure new and revised jobs
- Maintenance of a database containing your employee pay and job-related information
- Updating of your salary structure
- Recommendation of a salary increase budget which is sensitive to the client’s competitive position and ability to pay
- Maintenance of a data base containing your employee pay and job-related information
- Implementation of a computer model to allocate salary adjustments based upon individual employee factors, as well as corporate performance and ability to pay
- Assistance in adjusting benefits, perquisites and bonuses/incentives to support the clients strategic objectivesThe service is time and cost effective. It allows the client’s compensation philosophy to be implemented within the constraints of a budget and consistently applied over time. Budgets for this annual service depend on the size and complexity of the organization. Custom work plans and budgets are always developed to reflect the client’s unique and changing needs.
Recent Readings Regarding Executive Compensation
Click on the titles below to read the articles:
The Resurging Interest in Bank Supplemental Executive Retirement Plans