Executive Compensation Plans
I need help compensating key employees and executives.
Executive Compensation is a term used to cover a compensation process that takes into consideration value of work performed, competitive market conditions, incentives, and needs of the employee. Each of these elements is of varying priority to the company and/or employee, and may even be in opposition to each other. Most companies focus attention on compensation amounts and are generally unconcerned with compensation form.
Executives are concerned with both amount and form and as needs change, the relationship between the two becomes critical. Herein lies the need for a planned approach to executive compensation. A typical Executive Compensation Program consists of:
Common Elements for all Executives
- Competitive Base Salary
- Incentive Bonus
- Government Mandated Insurance
- Minimum Health Accident and Disability Insurance
- Minimum Retirement Contribution
Additional Standard Benefits
- Greater Insurance of All Types
- Larger Contribution to Retirement Resources
Special Executive Benefits
- Stock Options
- Stock Purchase Plans (Subsidized)
- Education Loans and Grants
- Children's Allowances
- Financial Counseling
- Special Vacation Arrangements
- Sabbatical Leaves
- Medical Examination
- Club Memberships
- Company Housing
- Housing Loans
- Company Automobile
- Shorter Workweek
|
