Total Rewards: A Korn Ferry Buyers' Guide
Finding the right balance to attract and retain talent requires a comprehensive and flexible approach to Total Rewards
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How we help you
We develop executive compensation programs that make sense for your organization, helping you reinforce your business strategies, hold on to the right people, and get great value from the money you pay—even when markets are changing fast.
We develop the right pay philosophy for your business
We don’t focus on what your competitors are doing. We invest our time wisely, with you. As your partner, we:
- Get to know your goals, your purpose, your business and your people
- Use benchmarking data to inform, rather than drive, your executive pay strategy
- Combine that knowledge with our insights into what motivates today’s leaders
- Make that the basis of your pay philosophy: a strategy that supports your mission, reflects your organization’s culture, and properly values the contribution of your people
We benchmark and design executive pay programs
We hold your new philosophy up against your current executive pay program and see what needs to change. The outcome is a program design that better reflects your core values and purpose. We help you:
- Understand global pay and placement data so you know how your pay programs stack up globally
- Put those programs in context, looking at fair pay across your business, current and future performance, the business climate, and your potential talent pool
- Analyze each element of your program so you always have a solid, objective way to decide the right executive pay package for your business
- Tackle your biggest issues, like recommendations on base compensation, annual or long-term incentives, performance measurement, performance management, executive contracts and governance—forecasting what the value could look like for your leaders in practice
We steer you through compliance and corporate governance
Your internal practices need to be current, competitive and legally compliant. We assist by:
- Explaining the accounting, tax and governance implications of your new package
- Offering an expert view of current and future compliance
- Helping you make smarter, more informed decisions to help avoid unexpected pitfalls when you put your plan into action
We help you put your program into action
Having a plan is only part of the task. You need everyone on board to get it to work—which means helping people understand what’s in it for the business. We work with you to:
- Make sure the way you communicate your plan is as straightforward, transparent, and clear as it can be
- Make sure that everyone understands what the plan delivers, how you measure success and how executives meet payout conditions
- Help your executives and board understand the changes, getting everyone’s buy-in and commitment, then guide you through communicating with the rest of the business
We manage special and technical projects for organizations, boards and compensation committees
If you just need a solution for a one-off challenge, we can do that too. For example, we can:
- Give you insight into regulatory, tax, accounting, and valuation issues in certain countries
- Offer services for IPOs, mergers and acquisitions, and bankruptcies
- Develop one-off, custom-made solutions for unique pay-related challenges
Let us be part of your success story
Contact us and see how our consulting services can help you achieve your business goals.
Talk to a Total Rewards expert
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