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As you are determining the right executive compensation program, you might find this tool helpful in establishing and communicating an overall compensation philosophy for your company.
This document is a sample executive employment agreement covering base salary, incentive bonus, equity incentives, benefits, termination, restrictive covenants, intellectual property, and more.
As an entrepreneur you're probably looking for ways to increase executives' perks as a method of attraction and retention. One program you might consider is a medical reimbursement plan. Another is a key-man insurance policy--especially if you have business partners.
Your company's unique characteristics guide your choices regarding executive compensation. Consider the current stage of company development, plans for future growth, intended liquidity path for company equity, and overall management philosophy around sharing financial information and rewards to help you determine what makes sense for your situation.
This tool was designed to assist an entrepreneur who set up a bonus system that keyed off the company's EBITDA. By having a bonus program tied to EBITDA, top team members were forced to think like an owner thinks about expenses, opportunities, and investment.
This entrepreneur and strategic coach presents two case studies, from her entrepreneur client base, which approach compensating "A" players in very different ways. Both had the same goal though--keep them on the team.
Much work is involved in developing an executive compensation plan that keeps your company competitive, integrates short- and long-term goals, and contains performance measurement systems that tie back to compensation. Well-devised packages drive organizational goals and objectives and your top talent.
As details regarding executive pay packages become more and more public, the best leaders are opting to make career choices that keep them out of the spotlight. This entrepreneur offers creative tips for finding and compensating the best executives in today's global marketplace.
Many entrepreneurs rely on internal bench strength to provide for future leadership. You can help ensure long-term organizational viability and avoid a talent crisis by exploring the benefits of building a best-in-class succession plan.
In this audio podcast, Professor Bob Sutton discusses "breakthrough" ideas in his latest book about dealing with difficult and conflicting relationships in a work environment. Sutton describes strategies to deal with "jerks" in an organization, and he illustrates the application of his ideas by using real-world examples sourced from readers' email responses to his new book.
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