Pitching your senior reward at the right level is vital if you are to recruit and retain the people who will drive your organisation forward. Our executive benchmarking service will help you to check the remuneration of your senior team.
Firstly, it is important to understand exactly what the role involves and how it operates in the organisation. We can assess this based on a job profile, but we normally supplement this with a discussion with the person responsible for the role. If there is already someone in the role, we also recommend that we interview them so that they are engaged in the process.
Using the appoach outlined on our pay benchmarking page, we obtain precise market data for the role that takes account of the role’s nuances and how it functions.
This is important as we find that many senior roles contain unique elements that salary surveys cannot take into account.
We also compare the current package of bonuses and benefits, such as car and pension, against the market.
We will then draw the results together in is a comprehensive report which highlights the market rate for the role and, if appropriate, how the overall current package compares. You can then consider whether any adjustments to individual packages are needed.
We can also advise on rebalancing the overall package, paying close attention to how incentives are measured and structured. If required, we can call on the expertise of employment tax specialists to help with senior tax planning and to design longer term incentives and other share options.
Contact us to find out how we can benchmark your executive roles.
