Fewer Sales Organizations are Offering Car Allowance Plans Across the Globe

Even while declining in popularity, car allowance plans for sales employees are still a majority practice in many markets. We examine the latest trends in plan prevalence and eligibility using Radford Global Sales Survey data and offer tips for technology and life sciences companies reconsidering their car policies. 

Published: November 2018
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ISS, Glass Lewis Issue 2019 Policy Updates with Focus on Pay-for-Performance and Diversity

ISS' newly released draft policy updates for 2019 would swap GAAP metrics for EVA and adopt a voting standard around board diversity. Glass Lewis’ final policies are extensive in both compensation and corporate governance topics. We explain what the updates entail. 

Published: November 2018
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How Long-Term Performance Plan Metrics Are Evolving in the Technology Sector

The elimination of 162(m) in the tax bill provides an opening for a new era in long-term incentive metrics. We analyze the direction incentive metrics are headed and what companies in different technology industries should think about with an eye toward the future.

Published: November 2018
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A Side-by-Side Look at Talent and Rewards in Financial Services and Technology

Financial services firms are challenged to imagine and operationalize the talent and rewards strategies required to transform their workforces for the digital age. No matter what technology initiatives firms are focused on, adapting longstanding practices to attract and retain technology talent is key. McLagan and Radford have teamed up to help financial services firms navigate this changing landscape.

Published: November 2018
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Attract and Retain Seasonal Non-Exempt and Hourly Workers Using Micro-Market Pay Data

It’s more crucial than ever to understand how to attract and retain non-exempt and hourly workers for the busy holiday season and beyond using micro-market pay data.

Published: November 2018
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The Spotlight: Adam Barnett, Partner, Asset Management

Adam Barnett is a Partner in McLagan’s asset management practice, providing performance and reward consulting services to various investment management organizations. Adam’s areas of expertise include designing annual and long-term incentive plans and sales compensation programs, conducting sales and financial performance benchmarking studies, and analyzing competitive compensation practices and levels.

Published: November 2018
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Understanding the Impact of Performance Ratings in Differentiating Pay

With an increased focus both internally and externally on pay for performance, we examine how companies with different performance ratings systems are optimizing their merit budget.

Published: October 2018
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Career Frameworks: Your Most Important HR Tool for the Era of Increased Transparency

The human resources function is stuck between a rock and a hard place. Designing approaches that fit the needs of a multi-generational workforce and an emerging job market adds tremendous pressure to HR strategies. Companies are attracting and retaining talent by using more customization and adaptability in their role profiles and job descriptions. However, having so much customization, and ultimately so many unique job profiles, doesn’t necessarily lend itself to addressing the current industry-wide need for more transparency. And often, the result can be a lack of clarity into what career paths are available within your organization.

Published: October 2018
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2018 Global Mobility Survey Sheds Light on the Future of International Assignments

Here are seven key findings from the study that will help as you build or evolve your own company’s global mobility strategy and policies.

Published: October 2018
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How Biotech Companies are Scaling their Workforces for High Growth

Companies experiencing high growth need to engage in smart workforce planning and examine their compensation philosophy, culture and employee experience to stay competitive. We highlight important ways emerging growth biotech companies are taking these steps.
 

Published: October 2018
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How is Technology Impacting Financial Services?

As financial services firms’ business models continue to evolve, legacy technology will likely be replaced with emerging technologies, resulting in a convergence of the technology and financial services industries. New technology innovation has already done a lot to improve the customer experience, supply data for decision making, and reshape longstanding firm policies and practices. The question is whether financial firms have the talent to support further innovation at the appropriate speed.

Published: October 2018
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The Post-Crisis Evolution of Pay

Ten years ago this month, the financial crisis came to a head with the failure of Lehman Brothers. While there have been too many stories written on the crisis to cite, one thing we can agree on is the shared culpability ranging from individuals over-extending themselves in the housing market, the distribution of bad loans, poor underwriting and mortgage lending standards, packaging of securities by banks, uneducated ratings of these securities by agencies, and greedy and naive investors searching for yield.

Published: October 2018
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A Checklist for Fall Compensation Planning

At most companies, Fall is the start of compensation planning season. To help you prepare, Radford has developed a quick checklist for keeping your pay programs up to date.
 

Published: October 2018
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The Spotlight: Roopank Chaudhary, Partner, India

Roopank Chaudhary, a partner at Aon, is the Head of India for McLagan and the Head of Regional Insurance for Asia Pacific. Roopank manages key client relationships with various financial institutions. He specializes in supporting clients in developing rewards strategies, structuring and benchmarking, designing and evaluating job descriptions, organization structuring, employee engagement, and HR set-up.

Published: October 2018
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How to Improve Market Competitiveness Through Local Pay Data

We’ve developed a list of six tips to keep in mind when considering how to use geographic pay differentials.

Published: October 2018
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When Your Sales Mobility Program Is Stuck in a Compensation Rut

Internal sales mobility moves are on the rise, driven by factors such as career development. However, these situations can be complicated from a compensation standpoint. We provide tips for companies encountering these situations, including whether to adopt a formal mobility program.
 

Published: October 2018
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SEC Takes Closer Look at Conflicts of Interest at Proxy Advisory Firms

The SEC has ramped up its scrutiny of proxy advisory firms when, earlier this month, the agency made the unusual decision to rescind the findings from two No Action Letters that were issued by SEC staff in 2004. The letters asserted that investment advisers could rely on proxy advisory firms’ maintenance of policies and procedures to alleviate potential conflicts of interest. We explain the potential implications of the latest action for the corporate governance community.
 

Published: September 2018
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SEC Takes A Closer Look at Proxy Advisory Firms

The SEC has signaled that they are actively reviewing how investment advisers use proxy advisory firms’ recommendations. The SEC has set a November 15th date for a roundtable to review requirements for investment advisers. As we highlight in this alert, this may ultimately force investment advisers to rely more on internal analysis; thus, diminishing the role of the duopoly that proxy advisory firms presently enjoy.

Published: September 2018
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U.S. Salary Increase Survey Projects Base Pay Will Rise, Total Cash Comp Will Drop in 2019

While overall salary may be projected to rise in 2019, however, workers in the U.S. shouldn’t expect to bring home more in total cash compensation next year.

Published: September 2018
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10 Steps to a Successful Sales Compensation Plan

Across many industries, sales compensation costs are consistently rising, while quota achievement levels continue to drop. You probably ask yourself these types of questions on a frequent basis: Do I have the right sales team in place to achieve my goals? And do I have the right measurements in place to know if my sales plan is even working? Following these 10 steps will maximize the performance of your sales force.

Published: September 2018
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What to Consider When Calculating Your CEO Pay Ratio in Year 2

Deciding whether to re-identify your median employee is a key question going into the second year of pay ratio disclosures. We weigh the pros and cons. The primary focus for many companies during the first year of calculating the CEO pay ratio was determining what methodology to use when identifying the median employee—ensuring it was both reasonable, accurate, and consistently applied across all employees.

Published: September 2018
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What to Consider When Calculating Your CEO Pay Ratio in Year 2

Deciding whether to re-identify your median employee is a key question going into the second year of CEO pay ratio disclosures. We explain when the SEC requires companies to re-identify the median employee and the circumstances under which it’s not required but a good idea.

Published: September 2018
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Year-Over-Year Executive Compensation Trends to Help You Plan for 2019

As we approach the end of the year and companies are busy preparing compensation plans for 2019, we wanted to dig a little deeper and share the year-over-year executive compensation trends among various job families across different components of pay.

Published: September 2018
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Competitiveness of Compensation Packages Tops List of 2018 Executive Compensation Priorities

Aon’s recently released 2018 Hot Topics in Executive Compensation survey provides executive compensation professionals a pulse on what’s on the mind of other professionals in the field so you do not feel like you’re on an island.

Published: September 2018
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Realigning the Human Resources Function

It is an exciting time in the HR community, as members no longer need to push to get a seat at the table and are considered significant drivers of change and value. However, we must recognize that where the HR function stands today is, in many cases, the result of multiple years of cost-cutting initiatives. After already achieving a lean state of operation, it is not uncommon to find that HR size and cost has been reduced even further. Yet, just when organizations have tirelessly worked to minimize costs as much as possible, executives have become even more aware of the importance of HR within firms, where talent is a crucial asset.

Published: September 2018
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Robust UK Life Sciences Sector Prompts Efforts to Curb High Employee Turnover

The outlook for the UK life sciences sector is optimistic with aggressive hiring and employee turnover on the rise. This is causing firms to reinforce their efforts to retain top performers. We explain the talent and rewards strategies companies should think about.
 

Published: September 2018
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How Health and Wellness Policies Affect Employee Performance: A Case Study

Our recent work with a pharmaceutical client to quantify the impact of their health and wellness programs on performance is an example of the valuable insights people analytics can uncover. We explain our process and key takeaways in this new case study.
 

Published: September 2018
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IRS Releases New Guidance Concerning Changes to Section 162(m) of the Internal Revenue Code

One of the more noteworthy provisions within the giant corporate tax bill that passed at the end of 2017 for executive compensation professionals was the elimination of a provision under Section 162(m), which allowed companies to deduct performance-based pay above $1 million. Now, we’re getting more clarification on how that change in tax law will play out in practice.

Published: September 2018
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The Spotlight: Don McNees, Partner, Insurance

Don McNees is a partner at McLagan and leads Ward Benchmarking for life, annuity, health, and retirement. Don works with senior management to enhance growth and improve performance at some of the world’s largest insurers. He advises clients on target operating models, performance benchmarking, and organization effectiveness to achieve their business objectives.

Published: September 2018
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IRS Releases Guidance Concerning Changes to Section 162(m) of the Internal Revenue Code

New guidance from the IRS on the tax bill’s treatment of 162(m) delves into the identification of covered employees, operation of the grandfather rule and modification of a written contract. Our new alert goes into detail on the application of these changes.
 

Published: September 2018
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