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Performance management compensation
1. Performance management compensation
As government regulators apply more scrutiny to executive compensation, corporate
boards are spending more time reconciling increasing calls for pay-for-performance
reforms with their need to motivate and retain chief executives and other senior
management leaders.
On one hand, public company directors - in particular - must demonstrate reason, purpose
and discretion when it comes to protecting the interests of shareholders, customers and
employees. They are feeling increased pressure to show restraint and to reward longer-
term corporate performance especially relating to the remuneration of the CEO.
After all, given a spate of high-profile media disclosures of stunning CEO pay, equity and
severance packages, the last thing any director wants is to see the head of the board's
Compensation Committee taken to task by activist investors or The Wall Street Journal.
On the other, boards must make sense of how regulation and the need to remain
competitive in the market for top management leadership provides them with the space
they need to make effective judgments about incentives and rewards.
To say that executive compensation is keeping board directors, compensation consultants,
executive search consultants and Human Resources leaders busy these days is indeed an
understatement.
Clearly, the focus is on rewarding long-term business performance and applying the
litmus test of reasonableness to CEO employment contracts and pay practices relating to
his or her senior management team.
What remains unanswered is the extent to which government, shareholder and media
interests will provide the margin required to attract, motivate, reward and retain top
executives at a time when they have more career options than at any time in the past two-
and-a-half years.
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