Remuneration and Compensation - Remuneration benchmarking with added job evaluation advice and recommendations

Brief

A privately owned, independent petroleum exploration and production company, established in 2002. The Chief Executive was considering a new structure and wanted market data for the appropriate salary and benefits for the roles in the organisation. In addition the company had one individual in an ‘undefined’ role, undertaking elements of the role of a Company Secretary, Office Manager and a Facilities Manager.

Solution

MM&K worked with the Board to:

• Undertake a complete benchmarking exercise with recommendations on remuneration quantum and composition
• Advised the Chief Executive of an appropriate structure moving forward
• Undertake a complete job evaluation exercise on the ‘undefined’ role, created a job description that was agreed by all parties
• Benchmarked the ‘undefined’ role accordingly, and made recommendations to the Chief Executive on salary and job title

The recommendations from the remuneration benchmarking and job evaluation exercise were adopted by the Company. MM&K has a long term ongoing relationship with the company.

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