Creating Competitive Executive Compensation Packages
Executive compensation packages should be customized to suit the needs, goals, and philosophies of business leaders and executives alike. Cookie-cutter compensation plans could inhibit business growth and will rarely excite ambitious executives.
In order to develop successful compensation packages, business leaders must first determine an overall, long-term business plan. By figuring out what they want to achieve and how they want to achieve it, business leaders can more clearly form compensation packages that align with their overall company vision.