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Compensation committees (CCs) face a critical and urgent challenge: designing competitive compensation strategies in a world where the economy is unpredictable, leader accountability is expected to go beyond the bottom line, and sought-after talent is scarce. Looking ahead, CCs must rise to the challenge of attracting and retaining talent while effectively managing costs. To achieve this, it is imperative for CCs to embrace the power of incentive-based compensation, align it with strategic goals, and foster a culture of meritocracy within their organizations.

Compensation committees (CCs) face a critical and urgent challenge: designing competitive compensation strategies in a world where the economy is unpredictable, leader accountability is expected to go beyond the bottom line, and sought-after talent is scarce. Looking ahead, CCs must rise to the challenge of attracting and retaining talent while effectively managing costs. To achieve this, it is imperative for CCs to embrace the power of incentive-based compensation, align it with strategic goals, and foster a culture of meritocracy within their organizations.

The most popular forms of equity-based compensation are stock options and restricted stock. It is not uncommon for these vehicles to compose a substantial portion of an executive’s net worth. Accordingly, it is important that executives fully understand the income tax treatment of options and restricted stock in order to maximize the after-tax value. This article by Grant Thornton presents the basic tax rules that apply to stock options and restricted stock, but also goes beyond the basics to discuss several more complex issues and tax planning considerations.

From one family office to another, the ‘top spot’ or Family Office Leader will go by different titles that include Head of Family Office, Managing Director, and Chief Executive Officer. And while the position will never be the same with professionals adjusting to the Family Office it serves, there are ideal competencies, qualities, and even qualifications that you can look for in your search for the ideal Family Officer Leader.

Running a family-owned business is no easy feat. Among the many challenges is determining the right salary and compensation structure for top executives. Plus, the topic of pay is a sensitive one when it involves the founder, family members, and other stakeholders.

As the U.S. economy continues its turbulent path toward a soft landing, businesses are generally seeing a reduction in unemployment and turnover. Unfortunately, employers will face increased pressure from the employee benefits expense line, which will be fraught with challenges over the next 12 to 24 months. By taking a strategic approach to benefits planning and navigating the upcoming challenges, employers can stay on top of key issues in healthcare, compliance, and benefits.

Employers who sponsor high deductible health plans (HDHPs) that are compatible with health savings accounts (HSAs) should take the opportunity to explain how they work during open enrollment. Through this bulletin and overview on HSAs, employers can see the HSA benefits they should highlight to their employees and what they need to know regarding HDHP plan design, from contribution limits changes to updated coverage options for telehealth and COVID-19 testing and treatment.

In this interview, attorney John Litchfield of Foley & Lardner’s Labor & Employment group discusses the key considerations family offices should keep in mind when it comes to domestic workers in the family office environment. Along with insights on household staff salary and wage treatments in accordance with the Fair Labor Standards Act (FLSA), John defines who qualifies as a domestic worker and the legal implications of hiring one.