One of the top issues facing CEOs is compensation and employee retention. Questions like,
- Do I give bonuses even though my people did not achieve their goals (due to the pandemic)?
- What is the fairest way to pay bonuses?
- How can I retain my best employees through incentives?
Our expert Vistage resource this month is Ed Rataj. He is the Managing Director of Compensation in the Human Capital Advisory Services practice of CBIZ Business Solutions. Ed is currently writing a book on “Reasonable Compensation in Closely Held Companies”. He has nearly twenty years of experience in the area of human resources, focusing on designing innovative compensation programs. Ed assists clients in the design and implementation of strategic base salary and incentive.
Ed’s core areas of expertise include designing market-based and job evaluation-based compensation programs, pay structures, and compensation surveys, as well as developing policies and procedures. He also provides expert witness testimony in the areas of compensation, market value of a job or employee is another area of practice.
Some of the topics we will discuss include the following:
Broad Topics
- Compensation Philosophy
- Defining the Labor Market (Industry, Geography, Size of Company)
- Quality Market Data
- Salary Structure Design
- How to Link Pay with Performance
Impacts of Covid
- Remote Work and Geographic Differentials
- Adjusting Incentive Plans in Uncertain Times
- Changes to Sales Goals
Executive Compensation
- Owner/Executive Compensation vs. Profits
- Family Members
- Short-Term Incentive Plans (Bonuses)
- Long-Term Incentive Plans
Sales Compensation
- Sales Incentive Philosophy – “Pay the winners like winners and the losers like losers”
Other Important Topics
- Minimum Wage Impacts
- Living Wage Considerations
- “Fair Pay” based on Gender and Race
- Overtime Regulations
Want to Be a Guest?
If you are a Manhattan CEO or Senior Executive with revenues ranging from $10M-$500M in NYC and who wants to connect with other local high-performing CEOs to help them, challenge them and inspire them to become better leaders and accelerate their company’s growth, and you qualify, you may come as my guest. Contact me below:
