Responsible Executive Compensation for a New Era of Accountability - Hardcover

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PETER T. CHINGOS is a principal in the New York office of Mercer Human Resource Consulting and a member of the firm’s Worldwide Partners Group. He is the U.S. leader for the firm’s executive compensation consulting practice. For more than twenty-five years, he has consulted with senior management, compensation committees, and boards of directors of leading global corporations on executive compensation and strategic business issues. He has appeared before the IRS and the SEC on a variety of regulatory issues related to compensation.

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A definitive road map to help companies assess and refine their executive reward strategies

Responsible pay has become inextricably linked with corporate governance and long-term shareholder value creation. Responsible Executive Compensation for a New Era of Accountability shows corporate leaders how to revamp their executive compensation programs to drive shareholder value creation while adhering to the high standards of the new corporate governance environment.

Packed with case studies, diagnostics, and contributions from world-renowned experts in executive compensation, this vital resource offers a comprehensive overview of the critical issues affecting executive compensation practice and theory during this new era.

With the help of Responsible Executive Compensation for a New Era of Accountability, companies of all sizes can create executive rewards programs that will attract and retain the best talent while addressing the needs of stakeholders.

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Many companies determine executive pay and rewards using approaches that are out of sync with current economic realities and impending reforms. New models of executive pay and executive pay oversight are needed to maintain investor confidence, create more value for shareholders, and comply with the latest SEC regulations.

Written for executives and boards of directors in for-profit companies, Responsible Executive Compensation for a New Era of Accountability provides a detailed road map to altering executive compensation programs to comply with the new accounting rules.

Pay programs need to be sufficient to attract and retain the best talent while still addressing the individual organization?s needs. The structure of the program, particularly incentive plans, should focus on operational and financial priorities, which should be linked to long-term shareholder value creation. Using numerous case studies and diagnostics to illustrate how companies can examine and revise their executive compensation programs and avoid future pitfalls, Peter Chingos and other authors from Mercer Human Resource Consulting focus on how companies create and measure value and how traditional executive pay programs?with their heavy emphasis on accounting-friendly stock options?can be reassessed and revised in light of anticipated SEC and accounting rules, changing definitions of corporate governance, and ongoing legislative and regulatory developments.

Focusing on the critical issues facing companies that need to assess and refine their executive reward strategies, this authoritative book covers the hallmarks characterizing well-designed and responsible executive compensation programs, including:

• A business-focused compensation strategy: A compensation strategy that begins with a clear business vision tied to shareholder value creation
• Well-defined compensation components: Executive compensation that consists of an appropriate mix of salary, annual and long-term incentives, and benefits
• Pay and performance validation: Assurance to shareholders and other constituencies that the relationship between compensation and financial performance is sound
• Executive accountability: The heart of an effective executive compensation program; there has to be a clear cause-and-effect relationship between results and rewards
• Highest standards of governance: The CEO and the board of directors have primary oversight responsibility for approving, reviewing, and communicating a company?s executive compensation strategy and pay decisions