Executive compensation is a key issue in agencies and one with many potential pitfalls. Many agencies learn compensation lessons the hard way, making mistakes that invariably negatively affect long-term business results.
Establishing effective compensation involves far more than simply asking “What do I need to pay?” There is no one formulaic approach to executive compensation. Rather, a range of considerations that support the overall strategic plan for your business needs to be taken into account.
This booklet provides fundamental guidance on developing an effective compensation philosophy and plan. It explores the compensation planning process and reviews key compensation components, both financial and non-financial.