Helping Management Attract, Retain and Motivate the Top Business Leaders
Aon Hewitt’s executive compensation consultants work directly for you – to help you develop compensation programs that achieve your organization’s short- and long-term strategies. We can advise you on all forms of compensation, help you implement the right compensation architecture, and then develop the right messaging to communicate the plans to the various employee populations. Here, we outline the operating model we use as we work with management to develop and implement these programs.
What Management Requires
Management teams need knowledgeable advice on compensation best practices that will address specific business and human resource needs, and that are easy to understand and administer. Management also requires:
- An ability to translate business, recruitment, and retention needs into plan designs
- Plans that reflect the organization’s goals and culture
- Extensive global compensation data that can be analyzed by industry segment, size and performancecharacteristics, with pay levels and plan design
- An ability to communicate programs effectively to the Board and other decision makers
- A clear understanding of each program’s administrative requirements and sensitivity to the economics of the plan’s management
- A broad perspective that includes industry-specific insights, as well as insights on other industries and companies with a similar strategic “finger print.”
Aon Hewitt can help you directly address all these requirements, by providing you with a team that will partner with you, work through the various options, and drive toward a successful conclusion with supporting data, analysis and communications.
Solutions You Can Trust
We will provide you with a set of Solutions You Can Trust, which include:
- Up-to-date market information and trend data from a total compensation perspective.
- Plan design and modeling expertise to predict business and human resource impacts.
- In-depth research into current and future trends, legislation, and regulations impacting compensation to ensure compliance and technical accuracy
- Implementation assistance to ensure that all aspects of the plans are working effectively
- Access to Aon Hewitt’s Total Compensation Measurement™ database with the ability to model various compensation scenarios on a global basis
- Access to Aon Hewitt’s extensive survey library to further enhance the understanding of special markets or situations
- Access to Aon Hewitt’s thought leadership that keeps you up-to-date on the changing regulatory and market landscape
- An experienced team that knows your business, is resourced to address your needs and works effectively with your internal teams to produce a comprehensive solution.
Total Rewards Strategy
A key issue in executive compensation today is making sure that compensation plans deliver the appropriate levels of pay for the right levels of performance. This must be done in a defensible manner that shows the right level of value sharing between management and stakeholders.
By defining the total rewards strategy and the links to performance at the outset, we can help management set the appropriate plans and goals to support a value-sharing equation and deliver the intended results. The results of this working collaboration are sound programs that are defensible, acceptable to the Board and supportive of stakeholder value creation. In addition, it assures that the unique aspects of a business, operating culture, and business challenges are appropriately reflected, addressed, and communicated to all involved parties. Finally, it ensures that best practices and effective governance guide all programs and deliver the intended results.