Anonymous member· Head of People Analytics, Calibre Software
Posted in Executive Compensation ·
After a difficult audit of our remuneration report two years ago, where we could not reconstruct why the committee had made a particular adjustment, I introduced a one-page record for every decision. I work for a listed bank in the Nordics.
It has six fields: the decision; the formulaic outcome before any judgement; the factors considered, each with a line on what the committee concluded; the alternatives discussed and rejected; who was in the room and who withdrew; and the sentence we expect to use in disclosure.
The last field has been the most useful. Writing the disclosure sentence at the time of the decision has twice caused the committee to change its mind. Happy to hear what others record, or what you would add.
0 reactions · 2 replies · 8 views
Nadia HaddadCRP
Director of Rewards, MEA, Qasr Holdings
I would add a seventh: the advice received and from whom. We were asked by the regulator whether the committee had seen the risk function's view before confirming bonus pools, and the minutes did not make it clear. Now each record lists the papers and the adviser input the committee relied on.
Dana WhitfieldCRP, GRS
Director, Global Compensation, Meridian Health Systems
We do something similar but less disciplined. The alternatives field is the one I will borrow. Minutes almost never capture what was rejected, and that is the first thing a new committee chair asks about.
