The 21-Group Compensation Approach
Yes, it is about the data, but more importantly, it is about context. What are you trying to accomplish, what is the state of the business today and how do you plan to get there. Compensation surveys and public company proxy filings provide useful data points, but the collection, interpretation and application of that information is where things get interesting.
We have years of experience with Boards and Management teams developing compensation strategies that align with their industry, place in the growth cycle and future direction. What is reasonable and appropriate for a Fortune 500 company may be utterly destructive to a young fast-growth company. Compensation in early stage companies must be structured to attract the right type of talent but also align with the available resources.
Whether we are talking about Board compensation, Executive compensation or Sales compensation – a cookie-cutter approach rarely works. Applying best practices, context and reliable data empowers groups to make informed decisions that fuel rather than limit company growth.
Other 21-Group Services:
Invariably, discussions regarding compensation lead to a variety of other areas, including:
- Organizational review (what’s working and what is not)
- Organizational design (are we structured effectively)
- Succession Planning
- Performance Appraisal
- HR information systems (Applicant Tracking, Performance Appraisal, HRIS, etc.)
Our team has successfully addressed these topics in all stages of the company life cycle, from start-up through public offering and beyond.