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The L-Blast | October 2020

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Dear All,

It’s hard to believe the holidays are around the corner and soon 2020 will be behind us. This year has been like no other and as we near closer to Election Day, we pray for our country and whoever is elected. We hope you all have a fun and safe Halloween and remember to vote.

We have some interesting articles to share with you in this L-Blast® we hope you find helpful. The first piece is an NFPCCmp;A article on the SEC’s new policy on human capital disclosures. The SEC was rather vague with this new rule but we hope our article provides a little more clarity.

The next article highlights the importance of aligning executive pay practices to your organization’s business strategy in response to the technological disruptors we’ve been seeing for years but now heightened by the pandemic in some industries. Boards can play a pivotal role and be more effective by adjusting compensation strategies to better support a changing business model.

The final article is in regards to diversity at the board level. As issues of diversity and inclusion continue to rise in the current climate, with recent lawsuits and legislation, diversity in the board room has been put under the microscope. The article suggests more state legislation and litigation will be on the rise, and advises boards to start taking steps to ensure diversity.

Lastly, our annual Energy Pay Pulse Survey opens December 1st and will be a great way for all those in the energy sector to stay ahead of the curve, especially during these trying times.

Continue to stay safe and remain optimistic. Don’t hesitate to reach out to us if you have concerns about your compensation programs, or if a restructuring is imminent in your organization, we are here to help.

Sincerely,

Brent Longnecker and the NFPCCmp;A Team

Chairman and CEO, Longnecker & Associates


SEC’s New Rule on Human Capital Disclosures

In all businesses, the single largest asset and investment are the people. As any company leader knows, the biggest cost of doing business is most oftentimes the cost of labor; inclusive of wages, benefits, payroll, or other related taxes. This investment of organizational funds has been a rising hot button topic amongst lawmakers, politicians, and organizational employees. This general traction from these external forces has moved its way towards policymakers such as the Securities and Exchange Commission (“SEC”) impacting their reporting standards and requirements.

READ MORE

Is Your Executive Compensation Plan Undermining Your Mission?

New technologies have been disrupting business for decades, especially since the internet became widespread in the late 1990s. But a new wave of innovation, centered on artificial intelligence, big data analytics, and the internet of things, is now intensifying the pace and magnitude of disruption. AI-powered advances by themselves, according to a 2019 McKinsey study, could boost annual global GDP by $13 trillion, or an additional percentage point.

READ MORE

Director Diversity and Derivative Lawsuits – Climate of Change

Diversity and inclusion in business has taken center stage in public discourse, and by-and-large, businesses have stated their commitment to diversity and inclusion, announcing various new initiatives to address racial inequality. Yet a wave of derivative and securities lawsuits, a recent California law signed by Governor Gavin Newsom (AB 979), and diversity legislation in other states have put a microscope on diversity at the board of director level.

READ MORE

2021 Energy Pay Pulse Survey

OPENS DECEMBER 1st

Want to know what compensation decisions your competitors are planning to make in the future? Keep your finger on the market’s pulse by participating in Longnecker & Associates’ 2021 Energy Pay Pulse Survey. The survey will capture compensation data in the following areas:

  • Salary increases
  • Employee headcount
  • Anticipated bonus payouts
  • Long-term incentive awards
  • Severance treatment

Direct questions related to OPEC and COVID impacts will be included to better understand the historical and future impacts on compensation decisions.

The survey will launch on December 1st, and final survey results will be available in January. Click below to learn more or to participate.

LEARN MORE


Bankruptcy and Restructuring Assistance

We know many organizations are facing financial turmoil and as a result, may need to restructure or file for bankruptcy. NFPCCmp;A is a leader in this space and is here to offer support and professional guidance through this process. In addition, we develop post-emergence plans and full compensation programs aimed at retaining and motivating the team to rebuild and generate significant shareholder value. Learn more about our restructuring capabilities, or contact us if you are ready to get started.

LEARN MORE GET STARTED

281.378.1350


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