June 6, 2023
Selecting a Compensation Consultant? There’s a Guide for That!
Compensation committees have a lot on their shoulders. And they rely on compensation consultants for information, expertise and objective advice to make important decisions impacting the company — and its executives! Based on interviews with Compensation Committee Chairs, CHROs, and compensation consultants of large companies across multiple sectors, the Center On Executive Compensation (a division of HR Policy Association) recently released this report, Selecting an Independent Compensation Consultant: A CHRO Guide, with a curated collection of insights, tips, and tools for successfully navigating the process of selecting an independent compensation consultant. Here are the topics covered in the guide:
– Common triggers for making a change
– Details on the process — including who is involved and how the process is orchestrated
– Criteria for compensation consultant selection and evaluation
– The benefits of scanning the market periodically
It even includes a sample RFP, questions for reference checking and a consultant performance evaluation in the appendix!
– Meredith Ervine