Archive for February 8th, 2010

A smooth sea never made a skillful mariner

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Expert Perspective by Grahall’s OmniMedia Editorial Board

expert perspective telescopeIn his January 30, 2010 article in the Wall Street Journal (Wage and Benefit Growth Hits Historic Low) David Wessel writes “Wage and benefit costs, both before and after adjusting for inflation, grew more slowly in 2009 than in any year since the U.S. government began tracking data in 1982, as double-digit unemployment weakened workers’ ability to command higher pay.”
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Are There Really Any Teeth in These Claws??

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Expert Perspective by Grahall’s OmniMedia Editorial Board

expert perspective telescopeStephen Gandel says in his January 27, 2009 article in Time Magazine (Can Financial Firms Get Executives to Give Back Pay?): “In the past few months, a number of financial firms have instituted or beefed up rules that would allow them to force employees to return year-end bonuses. So-called clawbacks would be triggered by subsequently discovered misconduct and some firms say they may even apply in cases where employees made trades that looked profitable at first, but go sour… While companies have always had the right to sue employees for ill-gotten gains, more firms are adding provisions to reclaim pay not just for illegal behavior, but poor decisions.”

While this sounds good, clawbacks are difficult to implement for several reasons
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Change of Mind

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Expert Perspective by Grahall’s OmniMedia Editorial Board

expert perspective telescopeIf anyone was surprised by the announcement last week that Hewitt Associates divested its Executive Compensation Consulting business, they haven’t been following the discussion about the SEC new rule that essentially demands that companies who use multi-service firms for executive compensation and other consulting services disclose fees paid for the other services when those fees exceed $120,000. (For details go to the SEC final rules.)  
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Firms Poach Top Talent From Recession-Weary Rivals

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The poaching of top talent among rival companies seems to be making a comeback.
As the economy stabilizes, some firms are taking the opportunity to nab stars from competitors whose best performers feel frustrated following months of recession, recruiters and employment lawyers say.

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Comp, Consultants and Conflicts of Interest

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Published in Human Resource Executive Online February 8, 2010 by Mark McGraw

On Feb. 1, Hewitt Associates announced it closed on a partial divestiture of its executive-compensation-consulting business in North America.  Under the terms of the agreement, a select number of principals and consultants will leave Hewitt to form Meridian Compensation Partners, which will operate as an independent executive-compensation consultancy, according to the Lincolnshire, Ill.-based human resources consulting and outsourcing services company.

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