The survey focused on the changes companies were planning to implement in 2009 in the context of the economic climate. Nearly 200 organisations participated in the surey which was conducted in June this year.
In general, companies have employed cost cutting actions, including pay freezes, hiring freezes and headcount reduction of temporary employees, and are planning to emphasise their EVPs (employee value proposition) and step up their focus on engaging key talent (although few have targeted reward spend on key talent).
The survey results are presented by region (and sector) and show some interesting variations between each. For example:
If you want to learn more about the survey and/or would like to receive a free copy please contact:
Robert Richter
Compensation Consultant
Watson Wyatt Middle East
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Dubai International Academic City
00971 44363513 (direct)
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The current spotlight on executive pay has caused many companies to take a step back and think about the long-term implications of their executive pay policies. In early March 2009, Watson Wyatt surveyed HR and compensation executive’s at large U.S.-based companies to understand the effect the economy is having on their executive pay programs. Recognising the significance of recession and financial markets’ decline, the survey analysis provides insight on the measures adopted by companies to reduce excessive risk as well as address public criticism and shareholder concern.
The Board View
A majority of outside directors believe that the US executive pay model should be changed and adjusted to be more performance based. With the ongoing economic turbulence, most directors are of the opinion that legislation and public pressures will not lead to improved pay for performance. During March and April 2009, Watson Wyatt surveyed outside directors of large U.S.-based companies. They expressed their views on executive pay in the future and the effect the economy is having on the executive pay programs of companies where they sit on the board of directors.
If you like to learn more about the topic or to receive the survey please contact:
