[Blog 52] The Chief Guru Chronicles 201: C-suite Compensation Benchmarking

HR Guru Executive Compensation

C-suite compensation benchmarking is a crucial part of talent management for any organization. It is essential to ensure that compensation packages for top executives are competitive and in line with industry standards to attract and retain top talent.

Here are some strategies for conducting C-suite compensation benchmarking in Singapore’s business environment:

  1. Conduct market benchmarking for total compensation (base salary, short-term incentive and long-term incentive) and pay-mix analysis, using salary data from Singapore-listed companies of similar size and business complexity. Benchmarking your c-suite compensation packages against industry peers in Singapore can provide a useful comparison to ensure that your compensation packages are competitive and aligned with industry standards.
  2. Consider regional differences: Singapore is a regional hub, and it’s important to consider regional differences when conducting C-suite compensation benchmarking. Differences in the cost of living and market rates in different countries can affect executive compensation packages. Adjustments may be needed to ensure that compensation packages remain competitive.
  3. Use a structured approach: When determining executive compensation, a structured approach can provide a clear and transparent process. For example, some organisations use a job evaluation methodology or by determining the job size of the c-suite executives for compensation benchmarking purpose based on job description.
  4. Seek expert advice: Conducting C-suite compensation benchmarking can be both a challenging and an arduous task, and it’s important to seek expert advice from a Trusted Advisor who provides best-in-class expertise, like HR Guru Pte Ltd. They have an innovative and niche Executive Compensation practice that can provide you with insights and recommendations on compensation strategy, benchmarking methodology, and regional differences.

In summary, C-suite compensation benchmarking is a critical aspect of talent management for any organization in Singapore’s business environment. By conducting market benchmarking against industry peers, considering regional differences, using a structured approach, and seeking expert advice from a Trusted Advisor can help organisations develop a competitive and equitable compensation strategy for their top executives.

Speak with our Trusted Advisors at (+65)6443-4328 to learn more about our HRguru Executive Compensation Practice Solutions or connect with us at www.hrguru.com.sg or email us at contactus@hrguru.com.sg.

HRguru Executive Compensation Practice Solutions

  • Total compensation strategy
  • CEO/Top Executives compensation benchmarking
  • Non-Executive Director remuneration reviews
  • Short-term incentive plans design
  • Design of and implementation of equity-based incentive programs (eg. share options, share appreciation rights, performance shares and restricted shares)
  • Adjustment of equity-based compensation plans due to special corporate events (i.e. special dividends, rights issue, capital reduc-tion, mergers & divestment)
  • Valuation of share grants and share options for accounting report
  • Design of cash-based long-term incentives: Economic Profit/EVA Incentive Plans, Phantom Share Options / SAR, Performance Cash / Restricted Cash Units

HRguru Value Proposition

  • Singapore listed companies where we collected pay data from annual reports: 700+
  • CEO and Key Management Personnel for whom we have salary data: 2,000+
  • Non-Executive Directors for whom we have director’s fee data: 2,600+
  • Executive Compensation Experts with extensive experience in Top Executives and Independent Directors Remuneration Review for SGX listed companies.

Some of HRguru Executive Compensation clients

Banyan Tree Holdings, Bund Centre Investment Ltd, Centurion Corp Ltd, Eurosports Global Ltd, Far East Organisation, Fortress Minerals, Frasers Property, FSL Trust, Golden Agri-Resource Ltd, GSH Corp Ltd, Hong Fok Corp Ltd, ICP Ltd, iX Biopharma Ltd, Old Chang Kee Ltd, ParkwayLife Reit, Raffles Medical Group, Riverstone Holdings Ltd, SAC Capital, Sasseur Asset Mgmt, Sinarmas Land, TSL Media Group and more.

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Contact HRguru today to access our deep HR experience and learn more about our Executive Compensation and HRguru Advisory Services or connect with us at contactus@hrguru.com.sg.

This article is part of a series of accounts of The Chief Guru Chronicles, a column which recounts our Founder & Chief Guru Tommy Ng’s experience and encounters in HR management across various countries and industries. The purpose of this column is to provide helpful information on the subjects discussed, and to educate readers through challenges experienced. It should not be perceived and used as a professional advice. Any views or opinions are not intended to malign any religion, races, ethnic group, organisation, company, individual or country. In addition, we do not make any warranties about the completeness, reliability and accuracy of the information. As a disclosure, some names, information and situations were intentionally concealed or edited in order to protect the identity of the involved parties. Except as expressly consented, the contents may not be reproduced, transmitted, or distributed without HR Guru Pte Ltd permission.

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