Challenge

Turley wanted to benchmark their executive roles to support good governance and provide an update to their remuneration committee. The objective was to ensure that their pay remains competitive, aligns with the external market and market trends and enables them to retain their key executives who contribute to Turley’s success.

Solution

Firstly, we coordinated on behalf of Turley to source the data from Willis Towers Watson as the best comparative group. We looked at the overall data as well as multiple peer groups to provide data on market median, upper, and lower quartile for each role. This was based on a job evaluation of each of the roles, and looked into:

• Scope of responsibility
• Unique knowledge and contribution
• Individual performance
• Internal relativities

Our market assessment covered a number of remuneration elements, including:

• Base salary
• Target bonus opportunity
• Long term incentives
• Target total cash
• Car allowance

Outcome

We produced a full report for Turley’s RemCo, which provided a summary of our approach and an explanation of our methodology. On top of this, an executive summary highlighted key points around the market data and significant findings in the benchmarking process. We also provided further details for each job and presented this to Turley, gathering feedback and make any final updates.