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“While the full board is active in these conversations about work from home, compensation committees that have expanded charters focused on human capital, along with compensation, have their hands in deeper,” said Melissa Means, a managing director in Pearl Meyer’s Boston office.
“Whether it’s part of the formal [executive incentive pay] program or not, demonstrating how management has performed through the pivot [because of Covid-19] is really going to be important to determine how incentive programs should pay out, if at all,” said Aalap Shah, managing director, Pearl Meyer.
"According to a recent survey from Pearl Meyer and Women Corporate Directors, 35% of boards discuss succession planning for the CEO and his or her direct reports, 20% discuss succession regarding the direct reports to the CEO’s direct reports, and 5% discuss succession planning three or more levels below the CEO."
“Now more than ever, we need transformative leaders who can engage a highly diverse workforce in new ways,” said David Swinford, president and CEO of Pearl Meyer. “The compensation committee has a significant role to play with its increasing responsibility for leadership development, in addition to rewards and incentives.”
“Financial markets are cyclical but what we face is so unprecedented, no one truly knows whether next year is feast or famine,” said Simon Patterson, managing director at Pearl Meyer.