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The L-Blast | November 2020

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As we near closer to the end of the year, and especially during this month when we celebrate Thanksgiving, we are reminded to be grateful for our blessings. It has been a very difficult year for all of us, but there is always something to be thankful for. Here at L&A, we appreciate every one of you and thank you for your continued partnership. We wish you and your families a wonderful Thanksgiving.

We have some great articles to share with you in this month’s L-Blast®. The first piece is an L&A article featured in WorldatWork’s latest issue of #evolve magazine. In this article, we focus on talent attraction and retention as the most important factor in operating a business successfully and offer key strategies for companies to effectively attract and retain. This is especially critical now during the pandemic and high volatility in the market.

The next article highlights key considerations for executive compensation in 2021 as a way to attract and retain top talent. This piece explains why long-term incentive plans are such a vital part of an executive compensation package for both public and private companies alike. But, for private companies that may not be able to offer long-term equity, it provides some great suggestions.

The final article is in regards to the latest guidance ISS has released with respect to COVID-19 and executive compensation. This article gives a brief summary and further clarification of the FAQs released by ISS in mid-October.

Lastly, our annual Energy Pay Pulse Survey opens December 1st and will be a great way for all those in the energy sector to stay ahead of the curve, especially during these trying times. Contact us today to participate!

Continue to stay safe and remain optimistic. Don’t hesitate to reach out to us if you have concerns about your compensation programs. Happy Thanksgiving!

Sincerely,

Brent Longnecker and the L&A Team

Chairman and CEO, Longnecker & Associates


The Attraction and Retention Paradigm

Building Success Through Talent Acquisition and Preservation

The importance of employee attraction and retention on overall business success is an often-debated issue. Although two very divergent schools of thought exist — either employees as assets or employees as expenses — everyone agrees on one thing: Employees are necessary to operate a business and employees want to feel valued. It has been proven that failing to address the most important factor in operating a business (i.e., your people) will ultimately result in the demise of a company — or at the very least, the risk of reputational harm.

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Executive Compensation in 2021: The Most Important Thing Private Companies Should Do Now

f you don’t have a formal, long-term incentive program for your executives, it’s past time to create one. If the Covid-19 pandemic has caused unemployment to rise sharply, it has also created unique opportunities for companies to attract top talent that may have not been available before the crisis. Compensation is one of the most strategic tools companies have at their disposal to attract top-notch talent, retain best-performing executives, and motivate the leadership team to achieve their objectives. 

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As we previously reported in prior S&W Benefits Updates (links below), the executive compensation related challenges presented to management and corporate boards from COVID-19 are significant. Among other considerations, companies might adjust 2020 performance goals, delay compensation decisions or change the mix of equity awards by making more full-value grants. In recent months, proxy advisors Institutional Shareholder Services (“ISS”) and Glass Lewis have published guidance with respect to these and other governance issues.

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OPENS DECEMBER 1st

Want to know what compensation decisions your competitors are planning to make in the future? Keep your finger on the market’s pulse by participating in Longnecker & Associates’ 2021 Energy Pay Pulse Survey. The survey will capture compensation data in the following areas:

  • Salary increases
  • Employee headcount
  • Anticipated bonus payouts
  • Long-term incentive awards
  • Severance treatment

Direct questions related to OPEC and COVID impacts will be included to better understand the historical and future impacts on compensation decisions.

The survey will launch on December 1st, and will only be open for two weeks. Contact us today to participate!

SIGN ME UP


We know many organizations are facing financial turmoil and as a result, may need to restructure or file for bankruptcy. L&A is a leader in this space and is here to offer support and professional guidance through this process. In addition, we develop post-emergence plans and full compensation programs aimed at retaining and motivating the team to rebuild and generate significant shareholder value. Learn more about our restructuring capabilities, or contact us if you are ready to get started.

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