Remuneration Surveys and Reviews
While many factors impact on retention (e.g. job satisfaction, promotional prospects and the nature and scope of roles), remuneration and the way in which it is structured continues to be a major determinant. With the increased prevalence of performance-related elements as a substantial part of remuneration, and the availability of share participation schemes, it becomes incumbent on organisations to continually evaluate and revise the way in which they reward their executives.
We fully appreciate that relativities, corporate constructs, personal appraisals and other 'guidelines' are important parameters within which executive remuneration should be operated. However, we also believe an external view and relevant analogues must be utilised in accessing the 'market value' of executives.
Although various annual surveys are published which can provide meaningful data, we regard these surveys as frequently too general to be use to organisations in accessing executive remuneration. As specialists in executive search and selection we have a unique perspective on the market and detailed knowledge of prevailing remuneration packages and so can offer the following services:
Individual remuneration reviews
- Understanding the Organisation - We believe that in order to take an informed view on rewards, we must understand the organisation's objectives, its structure and the prevalent management style.
- Executive Assessment - We insist that executives spend time with us describing, in detail, their responsibilities, their role within the organisation and, most importantly, their performance.
- Market Overview - Through our ongoing recruitment assignments we have current market knowledge and up-to-date remuneration benchmarks; extremely valuable in accessing an executive's 'worth'.
Comprehensive Industry Surveys
- Approaching other Organisations - Any industry survey is only as good as the information provided by other organisations. When approaching them and seeking their participation, we guarantee confidentiality, ensure professionalism and offer feedback.
- Personal Meetings - Our surveys are based on face-to-face discussions, preferably with the head of the organisation. We believe that this is the only way in which to obtain accurate, meaningful information on executive performance and reward.
- Presentation of Results - The reports we prepare contain data presented in readable tables and charts, as well as an Executive Summary, commentary and interpretation.
Our findings, as set out in a detailed report, provide a Board or investors with a comprehensive, insightful picture of the management team.