Remuneration and Compensation - Strategic Compensation - Newly listed oil & gas E & P company
Newly listed oil & gas E & P company. Concerned that remuneration strategy and practices were not consistent with business plan and status as listed company – in particular that share options were undervalued by majority of recipients. Wanted all employees to have an opportunity to acquire shares.
MM&K worked with board and Remuneration Committee to:
- Define an agreed strategy consistent with business plan
- Benchmark existing cash remuneration to market
- Conduct employee climate study re attitudes to existing practices and employee aspirations
- Design and implement (including training for in-house managers) salary progression and performance appraisal systems
- Design and implement new short and long term incentives
- Design and implement all employee share acquisition plan
- Prepare and deliver HR policies including employee handbook
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