The Growing Importance of "Wellbeing" Incentives in Executive Compensation
Laurel Bellows
Senior Executive Employment, Separation & Change-in-Control Agreements | Skilled Negotiator | Past President American Bar Association and Chicago Bar Association | Fierce Advocate Against Modern-Day Slavery | Speaker
We know that in today's high-stress corporate environment, focus on employee wellbeing is essential for attracting and retaining top talent. Many companies are exploring innovative ways to incorporate wellbeing incentives into executive compensation packages.
On the list is:
Prioritizing wellbeing signals a commitment to support the whole person, not just the professional. This can foster higher engagement, productivity, and loyalty among executives who may feel burnt out or torn between work and personal responsibilities.
However, designing and implementing these incentives requires careful strategizing. Consider tax implications, equitable access across different executive roles/levels, and tying incentives to measurable outcomes that benefit both the individual and the organization.
As an executive compensation lawyer, I'm interested in hearing from leaders about their experiences and best practices around wellbeing incentives. Let's discuss ways to promote sustainable high performance through a more holistic approach to executive compensation.
CFO | COO | Construction | Private Equity | Telecom | Architectural | Engineering
8 个月Agreed Laurel! Any benefit including those potentially purchased thru the company using a pretax mechanism makes the most $en$e both from a well-being and economic perspective. Further, getting both executives and staff aligned with overall wellness plans and initiatives (pre or post tax), can also have a significant impact on health Insurance at both the premium cost level and employee utilization level.