Abstract
It's particularly imperative for companies experiencing high growth to design compensation programs that will attract, retain, and motivate the high quality leadership they will need to realize their business goals. The best programs, according to the authors, keep compensation at risk and adapt flexibly to changing market conditions. High growth companies tend to face similar problems in planning executive compensation programs, including conflicting demands for cash, a short-term perspective, control and family issues, conflicting CEO responsibilities, equity for senior managers, and salary compression in officers' salaries. The authors set forth five steps for designing an executive compensation program that will meet these challenges: (1) Define the strategic context for the executive compensation program; (2) shape each component and bring them all into a balanced whole; (3) create a stock option plan; (4) ensure tax-effectiveness and legal and regulatory compliance; and (5) install a review process.
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