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Executive pay applies to a small number of people in your organization but represents a large amount of money. High performing companies recognize the importance of executive compensation and reward as key to growth and competitiveness. These are the people who shape your strategy and make the most critical decisions.
Executive compensation and rewards packages must be attractive, competitive, fair and transparent. They must also align tightly with the organization’s objectives and be compliant with internal and external regulations. A strong audit trail and robust reporting is key.
Calculating eligibility and final amounts is complex, because long term incentive plans can include any combination of elements such as deferred cash, shares and options. Approval processes for executive compensation are necessarily multi-layered. They are usually weak because they require the busiest people in the organization to scroll through lengthy email chains or access different systems. Process optimization and automation can connect and streamline the many actions required, ensuring accuracy and compliance.