Challenge: A Board of Directors disagreed about whether pay levels of the executive team were appropriate. A discussion with the Board revealed that each Board member was bringing different values and expectations to the pay review process.
Solution Deployed: We walked the Board through a Compensation Philosophy development process and tool that allowed the Board to share their differences and reach consensus about how pay should be viewed. A market analysis was then conducted using the newly adopted compensation philosophy and new base pay, cash incentive, and equity plans were implemented.
Business Value Delivered: The Board and the executives are all comfortable with the new direction, and the Board meetings are consequently much more fun!
Client Industry: Financial Services
Project Type: Compensation Philosophy, Market Pricing, Long-term Incentive, Short-term Incentive, Negotiation, Strategic Communication
Business Structure: For-Profit, Privately Held
