Executive Benefit Assessments
Executives expect a high-value reward package for the leadership and insight they bring to their organization. Marsh & McLennan Agency helps clients deliver the right mix of reward components to ensure it serves to attract, retain and motivate the best talent available as well as offers optimal benefits to meet business goals while addressing executives’ needs.
Our team works with you to: assess your current Executive Rewards package; benchmark the design and structure of the package against those of peer group companies; and identify opportunities for modifying or enhancing compensation and/or benefits to optimize the mix.
Our Executive Benefit Assessment delivers a critical, comprehensive analysis of existing plans:
- How well they are aligned with the organization’s business goals and executive reward philosophy
- How well they are integrated with the corporate benefit plans
- How competitive they are in the market place
- How well they meet executive needs
The outcome is a greater effective relationship between the value of the package relative to the cost. This is achieved through better tax leverage, group and institutional purchasing, and motivational and performance driven plans.
Executive Total Rewards Assessment
An Executive Total Rewards assessment is a third party, comprehensive, critical review of all forms of executive remuneration – including, base salary, short - and long-term incentive plans, existing benefit plans including group plans that executives participate in. We conduct executive interviews and competitive benchmarking to provide companies insight into what is important to their executives as well as where they stand in the competitive marketplace.
Following the collection of data, we present our observations and recommendations and these changes may include implementing a new program or modifying an existing one.
There are many ways to design a program for executives. We work with our clients to structure the “right fit” program that provides benefit parity to executives, is competitive in the marketplace and meets the objectives of the organization as a whole.