A client’s key leadership members were being recruited from outside the organization. To protect their human capital assets and lessen the likelihood of this happening in the future, the organization requested an Executive Market Analysis Study to assess how the compensation package being offered compared with industry benchmarks.
SilverStone Group’s Human Capital division conducted the market study, provided the organization with the data needed to move forward and established a compensation philosophy for the executive team. We provided overall total compensation market survey data (including base and bonus) from multiple survey sources. To address the issue of the “scope” of the comparables, SilverStone Group tailored the reports to meet the needs of the client’s various lines of business.
This thorough process allowed us to provide a precise comparison to the client. The data supported the organization’s initial thoughts about their position in the marketplace, and SilverStone Group substantiated the findings with hard data. Often, an organization’s Board Members are not familiar with compensation documents; therefore, SilverStone Group provided an explanation page, which is a clear and concise document that can be easily read and understood by anyone who is not an expert in this field.
The client was extremely satisfied with the results of the Executive Market Analysis Study and plans to benchmark their compensation package going forward, in order to remain competitive in the marketplace.