Salary Packaging

Terms such as “renumeration packages, compensation packages, benefits package, severance package or termination package” have become dirty words in an hostile anti-CEO climate. With the media exposure and behavior of many company employees, the public’s sentiment towards huge corporations and their CEO’s exorbitant salaries have left the public very angry. Yet for many companies to continue expanding and effectively competing nationally or internationally, attracting the best qualified talent to lead a company is vital for a company’s survival. Which in the end means for a company willing to spend money in order to attract the best potential candidate.

The ASIC (Australian Securities and Investments Commission) which is similar to the United State’s SEC (Securities and Exchange Commission), are organisations that are the watch dogs of stock and bond markets and monitor the business transactions taking place in the corporate sector. These organisations work diligently to oversea the business community making sure that the companies comply with the laws of that particular country.

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How does the potential CEO, CFO, COO or VP executive put together a lucrative and fair compensation package? Before accepting a position with a company as the CEO or other leadership position, having a clear idea of what the company is looking for in a candidate and how one’s skills, education, experience and leadership acumen will help take the company to the next level of business. Consult with an attorney that specialises in corporate law while making a list of attributes to negotiate for.

1) Make sure the company offers the best medical benefits plan including dental.
2) Ask or negotiate for a possible sign-on bonus.
3) Negotiate the stock options available to an employee.
4) Will there be a termination package offered and what’s involved in a severance compensation package.
5) Ask or negotiate perks attributed to the position of CEO.
6) Negotiate the best salary for the position and a specific time table for when the contract becomes a legal binding agreement or when the contract agreement expires and needs renegotiating.
A good attorney can negotiate for his or her client providing the potential candidate can produce for the company. Some executives have failed as leaders leaving the shareholders and the public shocked, angry and in some cases broke. Salary packaging is serious business so it is in the candidate’s best interest and company’s interest to work together while enhancing the company’s profit potential and growth.