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Tytuł pozycji:

Compensation Packages That Actually Drive Performance.

Tytuł :
Compensation Packages That Actually Drive Performance.
Autorzy :
Groysberg, Boris
Abbott, Sarah
Marino, Michael R.
Aksoy, Metin
Pokaż więcej
Temat :
JOB performance
EXECUTIVE compensation
EMPLOYEE benefits
LABOR incentives
CORPORATE profits
ORGANIZATIONAL performance
Źródło :
Harvard Business Review; Jan/Feb2021, Vol. 99 Issue 1, p102-111, 10p, 8 Color Photographs, 1 Graph
Periodyk
By aligning executives’ financial incentives with company strategy, a firm can inspire its management to deliver superior results. But it can be hard to get pay packages right. In this article four experts break down the key elements of compensation and explain how to put them together effectively. When designing packages, boards must make decisions about the proportion of fixed versus variable pay, short-term versus long-term incentives, cash versus equity, and group versus individual rewards. Many look at the copious data available on executive pay and benchmark their plans against those of their industry peers. The mix is also driven by company size, region, culture, and risk appetite. A good plan always begins with a firm’s strategic goals, however. Is the company striving for profitable growth, a turnaround, or a transformation? Is it trying to compete with public companies as a private entity? Each scenario calls for a different plan design. The Covid-related economic crisis may also alter plans. If targets become unachievable, incentives will lose their power and need to be revised—offering firms a chance to incorporate measures that serve stakeholders’ interests better. INSETS: CEO Compensation Across the Globe;The Elements of Long-Term Compensation. [ABSTRACT FROM AUTHOR]
Copyright 2021 Harvard Business Publishing. All Rights Reserved. Additional restrictions may apply including the use of this content as assigned course material. Please consult your institution's librarian about any restrictions that might apply under the license with your institution. For more information and teaching resources from Harvard Business Publishing including Harvard Business School Cases, eLearning products, and business simulations please visit hbsp.harvard.edu. (Copyright applies to all Abstracts.)
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