Strategic Compensation

Strategic Compensation - Newly listed oil & gas E & P company

Brief:

Newly listed oil & gas E & P company. Concerned that remuneration strategy and practices were not consistent with business plan and status as listed company – in particular that share options were undervalued by majority of recipients. Wanted all employees to have an opportunity to acquire shares.

Solution:

MM & K worked with board and Remuneration Committee to:

Define an agreed strategy consistent with business plan
Benchmark existing cash remuneration to market
Conduct employee climate study re attitudes to existing practices and employee aspirations
Design and implement (including training for in-house managers) salary progression and performance appraisal systems
Design and implement new short and long term incentives
Design and implement all employee share acquisition plan
Prepare and deliver HR policies including employee handbook

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