Compensation strategies: How to keep your best executives happy

Historically, the banking industry has lagged behind the rest of corporate America when it comes to executive and staff compensation. However, the competitive banking environment coupled with a tight labor market has led many community banks to focus on compensation. A key strategy to help your orga...

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Bibliographic Details
Published in:Community Banker 2001-09, Vol.10 (9), p.34
Main Authors: Watson, Jack, Blanchard, Michael
Format: Article
Language:English
Subjects:
Bank acquisitions & mergers
Banking industry
Compensation plans
Competition
Competitive advantage
Corporate presidents
Cost recovery
Employees
Equity
Executive compensation
Incentive plans
Leadership
Net income
Perquisites
Retirement plans
Stock options
Stockholders
Success
Wages & salaries
Work environment
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Summary:Historically, the banking industry has lagged behind the rest of corporate America when it comes to executive and staff compensation. However, the competitive banking environment coupled with a tight labor market has led many community banks to focus on compensation. A key strategy to help your organization become proactive with compensation is a detailed overall compensation plan. Today's compensation picture is very complex, as there are many moving pieces in addition to base salary and annual incentive that need to be integrated. Other components include long-term incentives (stock options), benefits (supplemental retirement plans), perquisites (fringe benefits), and funding alternatives.
ISSN:1529-1332