Revising goals and objectives during the year requires more effort than in the normal annual planning phase. While recalibration of some targets using the same measures is understandable, some objectives could be scrapped and replaced.
Attempts to move away from the conventional model of executive remuneration have not been wholly welcomed. Bank boards have struggled to gain acceptance that new approaches are needed. Work on executive remuneration is needed to better align potential rewards with a holistic view of performance.
Every company needs a crystal clear reward strategy that echoes its business strategy. The Long Term Incentive plan should have objectives to motivate each executive to stay with the company and keep future-focused.