Payday loans

March 14, 2014

Did You Know . . . HRN Offers CEO Review for Credit Unions?

Did you know with CEO Review you are able to strategically align the CEO’s performance with credit union goals and priorities?

Program benefits of CEO Review include:
• Provides up-to-date CEO salary and bonus market data on an annual basis
• Establishes a fair and defensible approach to determining merit and incentive pay
• Compares peer data on key financial growth measures
• Personalized implementation by credit union experts
• Affordable and easy to execute

HRN Performance Solutions has over 20 years of experience providing credit unions with talent management. HRN consultants work with Board members to develop a CEO performance plan that reflects the goals of the credit union. HRN can also provide “peer-to-peer” market salary information for comparable sized and regionally located financial institutions.

CEO Review consists of a four part process that aligns goals with performance and compensation.

Part I – Performance Objectives
A critical part of the CEO performance review is that performance objectives are developed from the credit union’s mission/vision statements, the strategic business plan, and the plan year budget. These objectives are quantifiable and observable indicators that bridge the philosophy of the credit union’s mission with measurable results.

Part II – Compensation Plan
An integral component of the CEO evaluation process is aligning compensation to outcomes. HRN develops a CEO compensation plan unique to your credit union using current “peer-to-peer” salary data that is tied to comparably sized and regionally located financial institutions.

Part III – Special Projects
The Special Projects section incorporates key, non-measurable aspects of the annual strategic plan and budget. Individual Board members evaluate results for each of the key points and submit their evaluations to the Chairman.

Part IV – Board Assessment
The Board Assessment is designed to provide feedback to the CEO from each Board member about his/her perception of the CEO’s effectiveness as a decision maker, manager, and credit union leader. Each Board member completes an anonymous online assessment form. Data from each Board member is compiled onto one form and shared with the CEO during the review.

 

Contact HRN for additional information:  www.hrnonline.com/ceoreview.asp
Call:  (800) 897-3308 OR Email:  comp@hrnonline.com

 

 

Share

November 30, 2012

HR Fact Friday: It’s No Wonder – Hostess Asking Approval for $1.8M in Exec Bonuses!

Picked this up off the wire . . . this kind of thing gives compensation consulting professionals an upset stomach and begs the question of what kind of severance package was offered to the 18,000 employees that lost their jobs? I have heard of bonuses to to keep executives on board following a merger to support the integration but a retention bonus after declaring bankruptcy and laying off all the staff is a new one on me. Unless I am missing something, weren’t these same executives  responsible for managing the company while it was failing? Nonetheless, and my opinion aside, we will see how the judge rules on this one.

Hostess Brands Inc. plans to ask for a judge’s approval Thursday to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans.
The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

Hostess is also seeking final approval for its wind-down, which was approved on an interim basis last week.

The process includes the quick sale of its brands, which also include Wonder Bread. Hostess says it has received a flood of interest in the brands.

The company’s bankruptcy means loss of about 18,000 jobs.

Share

December 12, 2011

Are you Modifying your Executive’s Incentive-Based Compensation Program?

If so, you are not alone.  According to an article from WorldatWork, corporate executives can expect moderate salary increases and tougher performance hurdles in 2012.  This information was gathered from a survey conducted by Pearl Meyer & Partners, a leading provider of compensation consulting services and survey data.

So what are the key components from the survey participants? 

  • Linking pay to performance is absolutely essential
  • Incorporate a metric that is more closely tied to creation of shareholder value
  • Stock options remain very popular among smaller companies and in certain sectors
  • Need to validate alignment of relative pay and performance was ranked as the top priority for compensation programs in 2012
  • Prepare for new SEC disclosure and governance requirements, including explanation to shareholders the link between CEO pay and company financial performance and compute the ratio of CEO pay to “median” employee pay

Executive salaries are expected to realize a relatively modest growth in 2012, marking a continued break from the annual 4% pay growth of most of the past two decades.  A total of 59% of participants projected a 2% to 4% salary increase, and 10% anticipate a salary freeze or decrease next year.

The survey is available for download on Pearl Meyer & Partners website.

Share

March 21, 2011

Hang on to your Executives

ExecuNet, Inc., an online networking site and job board that recruits executive talent, recently conducted a survey of 380 recruiters.  The survey indicated that over half of executive candidates seeking jobs are receiving more than one offer.  This is an increase of 16% from the 2010 survey results.

The industries that appear to heating up most are health-care and technology.   Job functions that are in demand are sales and business-development, along with marketing and engineering.  Additionally, competitive offers are being sweetened with increased compensation and additional perks such as flexible work hours.

Although this is a sign that times are getting better, executives are not receiving the multiple offers that were prevalent in 2006 and 2007.  But the data serves as a good reminder to review your executive compensation and rewards program to ensure you are competitive with external market.

Share