NFP Compensation Insights | April 2023
Staying Ahead of Rising Compensation Challenges
Boards and management teams are facing an increasingly demanding environment when it comes to compensation-related issues. Inflation, a tight labor market and retention concerns are just the tip of the iceberg. Companies have much to grapple with and it’s critical they have good systems in place to stay ahead of the challenges.
In this month’s featured article, NFPCC describes some of the top concerns and how they can quickly wreak havoc if not addressed. Although these issues can be overwhelming, there is light at the end of the tunnel. By taking preventative action and implementing sound processes, companies can set themselves up for success. As explained in the article, compensation reviews can be the key to resolving pressing issues. We hope you find this information useful as you strategize your defense plan. Don’t hesitate to reach out to NFPCC if you are in need of a compensation review or expert guidance.
Inflation, threats of recession, and high employee turnover are just a few of the issues Boards and management teams must contend with in 2023. These challenges are coupled with increased regulations, continued shareholder institution noise, and the SEC continuing to impose greater requirements on executive compensation disclosure. Needless to say, more companies are finding themselves between a rock and a hard place, and the efforts companies are making to stay ahead of the issues and limit any negative exposure carry with them additional time and expense.
Americas Board Priorities 2023: How to Build Resiliency in Uncertain Times
Amid compounding challenges across the Americas, it’s becoming abundantly clear that an actively engaged board is paramount to success.
Cumulative impacts of recent crises have created a new era of uncertainty that demands increased business resiliency and board engagement.
How Employers Are Managing Compensation Challenges in 2023
With 2023 well underway, many employers are still trying to find the right levels of pay for their employees. The stakes are high: If employers don’t get compensation right, they may find themselves losing out on talent.
The quest to attract and retain talent over the past year has already caused employers to push pay levels higher than initial projections.
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