Compensation Consulting Services
Compensation is key to attracting, motivating and retaining top talent. Let our team of expert consultants design a compensation plan tailored specifically for your business or organization. To learn more about the compensation consulting services offered at Longnecker & Associates, click on a topic below.
- Assess the market and develop customized peer company groups for compensation comparability.
- Independent, third-party assessment of the reasonableness and market competitiveness of compensation components and levels (base salary, annual incentives, long-term incentives, perks, and retirement compensation) for executives in public, private and not-for-profit organizations.
- Assessment of terms and provisions of executive employment agreements.
- Analysis of change-in-control terms and design of competitive structures.
- Compensation for prior years services assessment to determine appropriateness of compensation provided over an executive’s tenure in relation to the market and performance.
- Design of executive retirement compensation plans and succession plans to ensure an optimally smooth transition.
- Stock ownership requirement analysis and design.
- Stark Law/Anti-Kickback Statute: Assess the reasonableness and manner of compensation to ensure compliance of physician compensation with applicable laws.
- R&D Tax Credit Assessment: Analyze the reasonableness of compensation of executives involved in R&D for application toward a tax credit.
- Independent, third-party assessment of the reasonableness and market competitiveness of total direct compensation (base salary, annual incentives, and long-term incentives) for employees in public, private, and not-for-profit organizations.
- Longnecker & Associates also analyzes base salary structures, conducts job ranking and classification studies, and determines total cash compensation plans for organizations.
- Review, revise or design outside board of director compensation for public, private or not-for-profit organizations.
- Recommend amounts and elements of compensation that are market competitive and ensure that pay governance is aligned with shareholder interests.
Incentive planning and compensation consulting services for not-for-profit organizations include providing 501(c)3 and 501(c)4 not-for-profits with an assessment of the reasonableness of compensation that positions them to:
- remain competitive both in a not-for-profit environment as well as with for-profit organizations and
- defend potential IRS inquiries that may affect the not-for-profit status and prove pay for performance.
- Independent analysis of a company’s performance across a variety of financial measures (absolute company financial and operational metrics, relative financial and operational metrics, stock price/company value, relative TSR, etc.) as compared to compensation for the company’s executives.
- Assess market-prevalent goals and company objectives to recommend appropriate performance metrics.
- Design and drafting of proxy statements and effective CD&A sections to ensure readability, flow, compliance, and the incorporation of trending best practice disclosures.
- Review of current proxies and CD&As to enhance shareholder readability and ensure disclosures meet all necessary requirements.
- Annually review pay in terms of gender and ethnicity to see if there are departments, jobs or individuals that appear to have a discrepancy toward a protected class;
- If discrepancies are found, research the employee records to determine if an appropriate reason for the discrepancy exists;
- Create a process to correct potential inappropriate discrepancies. For example, set aside a portion of the merit pool to accommodate internal equity adjustments;
- Review your population to insure the company is adequately represented when compared to the geographic labor market. If you find the representation is low, set hiring goals to reduce the gap; and
- Develop a curriculum to train supervisors how to monitor pay insuring that equality is top of mind. Insure that supervisors and hiring authorities are accountable to reaching your diversity goals.
What is Compensation Consulting?
Compensation consulting involves assisting companies with the design and implementation of compensation packages for executives, board members, and employees. The ultimate goal of a compensation consultant is to create a plan that allows organizations to attract and retain the best talent while managing risks and maximizing ROI.
Setting, managing, and implementing compensation programs has only grown more complex over time. Combined with increased scrutiny from outside organizations, it’s more important than ever to receive thoughtful and thorough third-party guidance on your company’s executive compensation plans and corporate governance.
Why Work with Longnecker & Associates?
At Longnecker & Associates, we partner with our clients to generate tailored and results-oriented solutions in a timely manner. Using proven evaluation models and the latest research tools, our consultants can assist your organization with all things related to compensation and strategic governance.
Learn more about how our compensation consulting services can help create a plan to move your business in the right direction.