We offer a full range of advice on executive reward.
We have extensive experience both as advisors to the Board, and as secretary to Remuneration Committees.
Not only do we help CHROs develop Reward strategies and processes, we can also ensure the implementation, communication and governance.
We work both as outside advisers or as an integrated part of your executive team.
Nordic companies are adopting higher levels of transparency on executive remuneration to their shareholders, especially after The EU Shareholders Rights Directive has impacted how listed companies discloses details on executive remuneration.
We advise and support companies in setting up reporting standards, plan and transition executive pay governance, as well as reviewing the scope of the remuneration committee. As the public focus increases on executive pay compared to the general pay level in the company, we are ready to assist companies in providing better governance on executive pay as well as advise on the external communication of why, what and how, the executive pay packages are designed.
A listed company whose remuneration policy is approved at the annual general meeting is required to publish a Remuneration Report. We see more and more unlisted companies also adopting this standard. In Nordic Reward Partners, we have prepared several Remuneration Reports across the Nordics. We can guide you on the principles of the Remuneration Report, help you collect the necessary information, as well as prepare the report for you.
Executive Incentive Plan
Board Remuneration Committees are increasingly looking to ensure that the pay level of their executives is based on strategic goals, sustainable company performance and real value creation to shareholders. Thus, it is crucial to understand how the incentive opportunity for executives correlates with company strategy and performance in the short, medium, and long term. And, most importantly, this correlation then needs to be included in the plan design. In Nordic Reward Partners, we have a proven track record of clarifying scope and design of new, short-term and long-term incentives programs for executives, as well as implementing these in larger global organizations. We are ready to support you in the journey from a request for a new incentive plan - to the program has been implemented and communicated.
A fully integrated Reward Strategy needs to be competitive, financially sustainable and attractive to all employee groups. At the same time, you need to balance transparency and equality for all company stakeholders. Setting up a sustainable Reward Strategy can include several processes, such as defining the company pay philosophy, deciding on a base salary model, designing the desired pay mix and choosing the suitable variable pay plans and flexible benefits program.
Nordic Reward Partners has extensive experience in designing and implementing companywide total reward strategies. We can also design and produce the needed supporting policies, processes, and governance of the Reward Strategy. If needed, we can also be responsible for training of your people leaders as well as developing total rewards communication.