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Article | Executive Pay Memo – Western Europe

“Guiding Principles” launch offers content-rich resource

Governance Advisory Services |Executive Compensation|Risk & Analytics

By Don Delves | February 7, 2018

Willis Towers Watson is proud to release the first in a series of materials on the Guiding Principles of Executive Compensation. Each month, starting in February 2018, we will add new material to a website on the Guiding Principles. The materials will include the principles themselves, case studies, videos, blogs and links to articles and white papers.

We believe that executive compensation plays a critical role in the governance, leadership and management of most organizations. It directly affects an organization’s performance and achievement of its strategy, and reflects its values, mission and purpose. It is part of the core accountability structure of the organization, and plays a key role in the engagement of the company’s leadership.

So, executive compensation is important and should be done well. Since it is our business to help our clients develop the best executive compensation programs possible, Willis Towers Watson strives to operate by a consistent set of principles that guide us. We have developed and collected these principles over many years, with the contributions of literally hundreds of consultants, clients, board members and academics.

We have been using the Guiding Principles internally to guide our work with our clients, and have debated how best to share them publicly. Rather than publish a more traditional book or compendium, we opted for a more interactive format that builds over time. Hence, the Willis Towers Watson Guiding Principles web page and the monthly additions to the site.

The Guiding Principles are comprised of several overarching principles that collectively capture all of the main functions of executive compensation, and over 70 operating principles that provide guidance on specific executive compensation topics and tasks. Each month, we will first share material on overarching principles, and then on operating principles.

For our launch in February 2018, we are posting some videos and “chapters” that discuss the important role executive compensation plays in organizations, in the economy, and in society – in essence, why it is important and why people should care about its design and governance. We will also cover the background behind the Principles and briefly introduce them.

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