2017 Articles


Tax Reform Impact for Tax-Exempt Organizations

The Tax Cuts and Job Act was signed into law on Friday, December 22nd. The following outlines the implications for "excessive pay" in tax-exempt organizations, effective for employer tax years beginning after 12/31/2017. 

Published: December 2017
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New Delaware Supreme Court Decision Could Recalibrate How Directors Approach Their Pay

A new court ruling could make it harder for companies to dismiss lawsuits alleging excessive director pay. In our client alert, we explain the case and provide guidance for avoiding potential litigation down the road.

Published: December 2017
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House Pursues Regulation of Proxy Advisory Firms (Again)

A new bill aimed at regulating proxy advisory firms like ISS and Glass Lewis recently passed the US House of Representatives’ Financial Services Committee with bipartisan support, and is expected to pass the full House shortly before the New Year. While the fate of the bill in the US Senate is less certain, the bill resurrects a long running discussion on whether proxy advisory firms should be subject to more regulation. Our client alert highlights key takeaways from the bill.

Published: December 2017
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Securities Services on Blockchain: The Disruption of the Custodian Banks?

In response to the many questions we received at our webinar discussing a recent white paper, Securities Services on Blockchain: A Value Analysis for Custodian Banks, we asked Alex Powell, co-author of the paper, to share his thoughts in response to the themes surrounding this important industry topic. We’ve grouped the Q&A into the following themes themes: Use Cases and Opportunities, Obstacles, Incentives, Standards Needed, Regulatory Responses, Cyber-security, Potential Consequences, and The Future.

Published: December 2017
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A Fully Satisfied Client Doesn’t Always Translate into Capturing a Growing Share of Wallet – Don’t Let High Scores Fool You

Your client satisfaction scores are in and they are up strongly! Cause for celebration? Not so soon. The bad news is that our research shows that scores are up across the industry (overall satisfaction amongst $1 million plus investors are up 9%). Strong markets have left clients feeling good about their investment performance, which translates through to better client satisfaction. However, we will likely find this gain to be ephemeral when markets soften again.

Published: December 2017
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Your Pay Equity Questions Answered

According to the Economic Policy Institute, men significantly out-earn women across all pay scales. A typical woman working full time is paid 80 cents for every dollar made by a full-time, working man, and can lose more than $530,000 over the course of her lifetime because of gender wage gaps. The average college-educated woman loses even more—nearly $800,000, as reported by the Institution for Women’s Policy Research.

Published: December 2017
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Silicon Alley vs. Silicon Valley: Comparing and Contrasting Compensation Practices

The technology market in and around New York City is maturing rapidly, but even as pay levels align more closely with Silicon Valley, compensation plan design remains distinct in important ways. We explored some of the biggest differences at our recent east coast technology sector meeting.

Published: December 2017
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Glass Lewis Announces its 2018 Policies on CEO Pay Ratios, Say-on-Pay Votes and More

Glass Lewis & Co. recently released its 2018 policy updates, which include clarification on its approach to CEO pay ratio disclosures and a material change to the threshold at which additional scrutiny will be placed on Say-on-Pay results.

Published: December 2017
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The Spotlight: Tzeitel Fernandes, Partner, APAC Banking and Capital Markets

Tzeitel Fernandes leads the Banking and Capital Markets practice for McLagan in the Asia Pacific (APAC) and is also the Managing Director for the Hong Kong office, representing Talent, Rewards & Performance.

Published: December 2017
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New FAQs from ISS Clarify Upcoming Compensation Policy Changes for 2018

New FAQs from ISS shed light on how the proxy advisory firm plans to implement changes to its CEO pay-for-performance analyses and apply its new Equity Plan Scorecard methodology for the 2018 proxy season.

Published: November 2017
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ISS Policy Changes for 2018 Put More Scrutiny on CEO Pay-for-Performance and Director Pay

New ISS policy updates for 2018 add another layer of review to CEO pay-for-performance analyses, put more scrutiny on director pay and address disclosures related to gender pay equity, among many other changes. Read our alert for full details on upcoming policy changes.

Published: November 2017
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Proposed Tax Bill Retains Some Provisions that Impact Exec Pay; Here’s What You Should Know

The tax overhaul bill being debated in the US Congress would make changes to the tax deductibility of performance-based compensation for named executive officers, including the CFO. Follow our client alert to stay informed on how the bill affects executive compensation as the legislation moves through Congress.

Published: November 2017
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Maternity Matters: What India’s Amended Maternity Benefit Act Means for Companies

Thanks to recent amendments to its maternity benefits law, India now ranks among the top countries for longest paid maternity leave. Our client alert explains what the new law changes and how companies are beginning to comply.

Published: November 2017
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The Spotlight: Sean Carney, Partner, European Banks

Sean Carney leads McLagan’s European Banks reward team. His group is responsible for relationships, benchmarking, and consulting services across all major investment, corporate, and retail banking clients with a presence in Europe.

Published: November 2017
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Radford’s Approach to Valuing Equity Compensation

Designing effective equity programs is one of the most important roles for human resources and compensation professionals. But before companies can design an effective equity program they need to gather market data and have a common methodology for valuing that data.

Published: October 2017
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Bridging the Gap: The Rising Fight for Pay Equity in Financial Services

Did you know that when the Equal Pay Act passed in 1963, women were making 59 cents to every dollar earned by men? Today, nearly 55 years later, a typical, full-time female employee is paid 80 cents to every dollar made by her male counterpart, according to the Economic Policy Institute.

Published: October 2017
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The Story of How We Helped One Client Put Their CEO Pay Ratio into the Right Context

A recent engagement with one of our medical devices clients highlights the importance of putting your CEO pay ratio into the right context against the right set of peers. Read our latest case study to learn more about how your company can tell its CEO pay ratio story in 2018.

Published: October 2017
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Debunking Common Compensation Myths

Following our annual webcast on technology sector trends, this article takes a deeper look at the five big compensation myths we discussed on the call. From gender pay equity to having to benchmark pay at the 75th percentile to stay competitive, we’re aiming to separate fact from fiction.

Published: October 2017
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In the UK and US, Performance Share Plans Appear Due for a Makeover

A handful of companies in the UK have traded in their performance share plans in favor of restricted stock with lower maximum payout levels and longer vesting and holding periods. In some cases, these moves even include executives. Now, the question we must ask is will this movement gather enough steam in the UK to jump across the Atlantic to the US?

Published: October 2017
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Maternity Matters: What the Amended Maternity Benefit Act Means for Companies in India

Despite marginal improvements over the past few years, the gender ratio at the workplace in India remains heavily skewed towards men. The proportion of women directors in National Stock Exchange (NSE) listed companies is about 13.7%. According to a survey report by the Confederation of Indian Industry’s (CII) Indian Women's Network (IWN), 37% of women opt out of their jobs mid-career due to maternity or childcare issues. The pressure of balancing responsibilities at home with a professional career has resulted in such slightly discouraging statistics.

Published: October 2017
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One Year After the Retail Banking Scandal: Are Banks in the GCC Region at Risk, Too?

The retail banking scandal has exposed the perilous link between the actions of the sales workforce and corporate culture, as well as the laissez-faire attitude towards mis-selling that led to those actions. Are banks across the GCC region at risk, too? 

Published: October 2017
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High-Performance Sales: Don't Start with Compensation

When launching or revamping a sales organization, leaders have a unique opportunity to consider the full set of factors that influence the creation of a high-performing sales team. Contrary to popular belief, compensation plan design should be the byproduct of these factors, not a crutch used to force behavior.

Published: October 2017
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The Spotlight: Jeff Rieder, Partner, Head of Ward Group

Since 2005, Jeff Rieder has served as Head of Ward Group, a part of Aon focused on insurance performance and rewards practices. He has significant experience in the industry with expertise in the property-casualty and life, health, and annuity segments.

Published: October 2017
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Banking Observations on the CEO Pay Ratio and New SEC Guidance

The SEC Corporation Finance Staff, on September 21, 2017, issued three forms of guidance on the CEO Pay Ratio Rule: an interpretive release, a press release, and new and revised C&DIs.   

Published: October 2017
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Does Money Buy Happiness?

We’ll leave the question of whether money buys happiness to the philosophers, academics, and social scientists. (For the record, we prefer to err on the side of yes). Regardless, one thing money certainly does is cover up human capital challenges and issues lurking beneath the surface. When times are good, when revenue is soaring, and when there’s plenty of pay to go around, fewer issues arise and the allure of the present obscures a focus on the future. Think of it as a human capital bubble.

Published: October 2017
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Revisiting 13th and 14th Month Bonus Rules in Latin America, Europe, Africa and Asia

Around the world, from Latin America to Europe to Africa to Asia, 13th and 14th month bonuses are a fairly common practice. Yet, the rules of the road vary widely from country to country, making compliance a challenge for HR teams. Our latest article examines current requirements and practices in more than 45 nations.

Published: September 2017
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Broadening the Employee Value Proposition for Digital Talent

Almost every company is now a tech company in some way. The need for digital roles and specific skillsets in the financial services industry is at an all-time high. Firms in every sector are competing for the talent that they need to pursue innovation at the speed of today’s demanding tech environment. In fact, according to our cyber security pulse study, 95% of financial services firms plan to increase their cybersecurity headcounts in 2017. It is undoubtedly the age of digital disruption. In order to compete with emerging tech firms and their highly appealing Silicon Valley approach to attracting and retaining key employees, the financial industry must acknowledge that the broader ecosystem of rewarding digital talent is changing and transform its value proposition with it.  

Published: September 2017
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New SEC Guidance Will Make Calculating Your CEO Pay Ratio Easier, But Don’t Relax Yet

After months and months of waiting, the SEC finally published updated guidance on complying with its CEO pay ratio rules. Specifically, the staff provided clarification on reasonable flexibility with respect to statistical sampling, identifying contractors and making reasonable estimates in calculating elements of the median employee’s compensation. Our latest client alert covers all the details you need to know.

Published: September 2017
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Nine Ways Innovative Life Sciences Companies Build and Sustain Cultures of Success

Many of the world’s most innovative and successful life sciences companies trace their achievements down to one key factor: building enduring corporate cultures. We spoke to HR leaders at five of today’s highest-flying biotech firms to learn the secrets behind their most successful culture-building programs.

Published: September 2017
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Equity Choice Programs: Making Your Incentives More Meaningful to Employees

A small but growing number of firms are giving employees a choice in their equity vehicles—typically a mix of options and restricted stock. The move comes from a desire to provide greater flexibility and cater to generational differences in the workplace. We explain how an equity choice program can work.

Published: September 2017
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