During these unprecedented times, Oswald’s Management Total Rewards team can help to review your Executive management compensation, short/long term incentive programs. One of the keys to financial recovery post-COVID will be to have the proper management team in place, with the proper goals and incentives.
Oswald and our Executive Total Rewards team are advising many clients about what can be done during this difficult period to make sure their programs are properly focused and cost-effective. In addition, we know that being able to retain your strongest and best qualified leaders will be one of your keys to the future.
OSWALD HAS IDENTIFIED WHERE WE CAN HELP:
We can help you review and assess your current management retention, incentive, and non-qualified retirement plans to ensure they are cost-effective and state-of-the art.
For the funding of your non-qualified deferred compensation plan, we can audit your COLI program to make sure it is institutionally priced and is not excessively-priced.
Several clients learned the hard way the difference in “retail” versus “institutional” COLI. Our audits have resulted in millions of cost savings to some clients.
Even before performing a full audit, with just a little information about your existing COLI, it’s relatively easy to determine if you have an institutional or retail product and if substantial expenses can be reduced.
We can suggest several “non-cash” methods of compensating your leadership team to ensure retention and focus on the new priorities of operating post-COVID
Many clients are concerned that their short-term incentive plans are now out of alignment with what will need to be accomplished in the next 12 months.
Our Total Rewards team can assist you to bring the plans into proper alignment and answer questions such as:
During the lockdown –
- How would our compensation strategy have been different had we known the coronavirus economy was coming?
- Do our rewards focus on “Productivity Profit” which can be attributable to the management performance?
- Are we properly measuring and rewarding value creation for the post-COVID recovery?
Contact Jeff Wasserman or fill out the form below for more information