Nomination and Remuneration Committee Support
The Nomination and Remuneration Committee manages the most important asset of any business – human capital. Traditionally, the Nomination and Remuneration Committee would deal with a limited number of issues that only affected the Board and senior management, but its functions have now been significantly expanded to include leadership and talent management at various levels of the organization.
In order to successfully deal with the new complex tasks, Western and Russian companies frequently involve external consultants to facilitate the work of the committee and provide necessary guidance.
The objectives of the Nomination and Remuneration Committee:
- To implement an effective performance management system for top management;
- To ensure a balance of interests between top management and shareholders through an effective compensation system;
- To ensure the competitiveness of the company on the leadership capital market.
Ward Howell provides professional support to the Nomination and Remuneration Committee on the following issues:
- Benchmarking of top management compensation systems in the reference group of companies;
- Benchmarking of Board compensation systems in the reference group of companies;
- Development of compensation systems for Board members;
- Development of compensation and long-term motivation systems for top management;
- Development of performance management systems and KPIs for top management;
- Board succession planning;
- Development of a management succession system.
Ward Howell expertise
- Over the past 10 years, our Corporate Governance team has helped over 60 companies form, assess, and improve the efficiency of their Boards.
- Our daily communication with shareholders and top management, Board members, and Chairmen of major companies allows us to be aware of the trends and best corporate governance practices in Russia and abroad.
- Our consultants are current members and Chairmen of the Boards of Russian and international companies; they have sound knowledge of regulatory requirements and the practical skills required to work effectively for the Board.
- Consultants from our Corporate Governance practice team have conducted more than 10 global studies in partnership with INSEAD Business School. They have also written scientific papers and business books on corporate governance, and have extensive academic knowledge and comprehension of the topic.
- We strive to ensure that our company, projects, and practices have a positive impact on the future and create sustainable results for both our clients and Ward Howell.