Altering Compensation Approaches to Reflect the Changing Financial Services Landscape
The market events of 2008 have caused financial services organizations to rethink their strategy and approach to both short-term and long-term compensation programs. New compensation plans will need to align with shareholder objectives, profitability targets and cost constraints, while at the same time developing and retaining top talent. Therefore, financial services institutions will need to consider tailoring their compensation programs by key employee segments, including executives, revenue producers, revenue support and non-revenue producing employees.
In the article below, we highlight impact on reward drivers and significant shifts dictating compensation trends.