Hugessen Consulting supports HR Committees, Board Chairs and management teams on executive compensation and related performance, governance and shareholder matters, all with the goal of supporting our clients in driving sustainable value creation. Throughout our nearly 15 years of supporting Boards and HR Committees, we have often heard how challenging it can be to:
- Set robust goals for the CEO that will have significant impact on the organization
- Have meaningful conversations with the CEO about performance results
- Effectively reflect performance results in short- and long-term incentive plan outcomes
We are pleased to announce that Dr. Peter Stephenson has joined Hugessen as a Partner and will help our clients navigate these challenges. Peter’s expertise will expand our support for Boards in improving their effectiveness, specifically in their management of CEO performance and in raising the bar for their own performance. Peter is an organizational psychologist, management consultant and trusted advisor to Boards, CEOs, and executive teams.
An Effective CEO Performance Management Process
CEO goal setting, performance evaluation, and incentive planning can be stressful processes for Boards and their CEOs, particularly in the absence of a director with deep experience in this area. Our expanded capabilities will complement our normal-course support with year-end process and incentive program design and will ensure our clients can confidently make important decisions related to their CEO’s pay and performance.
Three keys to a constructive CEO performance management process include:
- Focus on setting and documenting robust goals with your CEO;
- Agree upon measurable targets and/or milestones, against which progress can be tracked and feedback provided; and
- Objectify and energize the CEO performance management process by involving an independent resource
Please contact any professional at Hugessen Consulting if you would like to learn more about the support we can now provide you in improving the value you create through your CEO Performance Management process.