Attracting and retaining key talent remains one of the most difficult issues facing business owners today. Companies are faced with the increasingly delicate task of creating an incentive package that is aligned with their overall financial position, while retaining and motivating executives.
The frequency, with which companies re-design their executive reward programmes, with long-term incentives posing a particular problem, testifies to the difficulty of getting them right.
Fuelling this issue are new accounting rules, changes to pensions tax legislation the emergence of the pensions regulator and the current governance environment. Ironically, while all have been established to aid rather than thwart companies’ efforts, these and other factors have lead to incentive programmes that do not meet the needs of either business owners or executives.
Reward is a key tool for attracting, retaining and motivating those individuals who will add value to the business. Getting it wrong can mean loss of key talent, demotivated and disengaged executives. Striking the right balance while retaining a focus on the needs of the business is all-important.
To make compensation and benefits work more effectively for both executives and business owners, there needs to be the ability to design and test new programmes in the context of the total package.
Clifton Wealth has a proven track record in the design and implementation of executive reward programmes. Effective reward planning can help to recruit, retain and motivate key talent, and deliver value for money.
The distinguishing features of our approach are the wealth and depth of expertise and our business-focused approach to reward design.
For more information please contact us