The marketplace for talent is no different than any other marketplace. It does not guarantee a positive or negative outcome. It simply establishes a price.
In this video, Jamie McGough, Partner at Meridian, explains how paying “market price” for executive talent is both an art and a science.
Performance-based short-term and long-term incentives comprise more than 70% of executive compensation, so companies must understand the competitive landscape for this talent. A common approach is to identify competitors to benchmark against.
For more information and insights into executive compensation programs, visit Meridian Compensation Partners at https://meridiancp.com.