Compensation and benefits
Employers increasingly require more inventive remuneration packages whilst retaining cost effectiveness. Compensation and benefits are key to the motivation and retention of executives and employees, and compensation packages can be structured to achieve human resources / strategic goals. Creative and tax effective compensation packages can provide tax savings for both employers and employees.
Issues and trends
The economic downturn has resulted in the need to defer some forms of compensation into the future, yet ensuring that the key personnel of the workforce are retained and motivated.
This, together with changes in the Irish tax landscape, has led companies to review their current incentive arrangements in order to ensure they properly support the business strategy, encourage the right behaviours, retain and motivate employees, and do not encourage excessive risk taking. They are also considering more innovative structures.
From what might be considered a ‘good housekeeping’ perspective companies are reviewing current positions to ensure that incentive arrangements are structured in the most tax efficient manner.
Our solutions
Deloitte’s Compensation & Benefits Team is comprised of professional and experienced accountants and employment tax specialists and can advise on all aspects of compensation arrangements, including:
- Compensation structure to achieve corporate objectives while minimising or deferring tax costs
- Equity based compensation for local and overseas employees
- Tax planning for senior executives moving to or from Ireland, including managing all aspects of personal wealth
- Retirement planning to maximise tax effectiveness
- Interaction of entitlements under pension schemes and retirement planning
Please do not hesitate to contact a member of our Global Employer Services team with any queries you might have.
Contact us
Ian McCall
GES Practice leader
T: + 353 1 417 2442