Remuneration & Compensation Case Study

Strategic Compensation - Newly listed oil & gas Exploration & Production ('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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