On today’s episode, we’re joined by Laura Hay, Partner at Meridian Compensation Partners, LLC. Laura explores the critical role of compensation in retaining executive talent, discussing the interplay of business conditions, compensation structures and the importance of strategic retention initiatives. She offers insights into identifying retention risks and structuring compensation to mitigate these risks effectively.

Key Takeaways:

(01:16) Change in management increases retention risks.

(01:47) High executive turnover in healthcare and technology sectors.

(03:16) Retention is not about keeping 100% of executives.

(04:20) Lack of a good succession plan can be a retention destroyer.

(05:20) Outdated compensation designs harm retention efforts.

(08:11) Strategic direction and investment in people support retention.

(12:15) Annual compensation programs should drive retention.

(15:33) Special retention awards should be carefully structured and justified.

(18:13) Proactive shareholder communication can mitigate criticism of retention awards.

Resources Mentioned:

Laura Hay - https://www.linkedin.com/in/laurahay/

This episode is brought to you by Meridian Compensation Partners, LLC. Learn more by visiting MeridianCP.com.

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