Title: Wisconsin Compensation Program for Officers and Certain Key Management Personnel Introduction: The Wisconsin Compensation Program for Officers and Certain Key Management Personnel aims to ensure fair and competitive compensation for executives and key management personnel serving in various state organizations within Wisconsin. This program plays a crucial role in attracting and retaining talented individuals to lead and manage these organizations effectively. This article provides a comprehensive overview of the Wisconsin Compensation Program for Officers and Certain Key Management Personnel, including its purpose, benefits, eligibility criteria, and attachments. 1. Purpose of the Wisconsin Compensation Program: The primary goal of the Wisconsin Compensation Program for Officers and Certain Key Management Personnel is to establish a standardized framework for determining executive compensation across state organizations. This program ensures that officers and key management personnel receive compensation packages that are competitive, equitable, and reflective of their responsibilities, skills, and experience. 2. Benefits of the Program: The Wisconsin Compensation Program offers numerous benefits to officers and key management personnel, including: — Competitive Salaries: Officers and key management personnel are provided with salaries that are comparable to those offered by similarly-sized organizations in the private sector. — Performance-Based Incentives: The program enables organizations to offer performance-based incentives based on predefined goals, objectives, and individual performance evaluations, encouraging productivity, innovation, and excellence. — Attractive Benefits Package: Alongside competitive salaries, officers and key management personnel receive a comprehensive benefits package that includes health insurance, retirement plans, paid vacations, and more. — Professional Development Opportunities: The program encourages continuous learning and growth, supporting officers and key management personnel in their professional development through training, workshops, and educational opportunities. 3. Eligibility Criteria: To be eligible for the Wisconsin Compensation Program for Officers and Certain Key Management Personnel, individuals must typically meet the following criteria: — Hold a designated executive or key management position within a participating state organization. — Demonstrate a high level of proficiency, experience, and competency relevant to their role. — Uphold ethical standards and exhibit exceptional leadership qualities. — Comply with relevant laws, regulations, and organizational policies. Attachments: 1. Sample Compensation Guidelines: This attachment includes comprehensive guidelines for determining executive remuneration, covering various factors such as performance metrics, market conditions, and organizational budget considerations. These guidelines aid organizations in establishing fair and competitive compensation packages. 2. Performance Evaluation Template: This attachment provides a standardized performance evaluation template used to assess the performance of officers and key management personnel. It includes predefined performance indicators and rating scales, helping organizations to gauge individual contributions. Conclusion: The Wisconsin Compensation Program for Officers and Certain Key Management Personnel ensures that Wisconsin state organizations attract and retain talented leaders and managers by offering competitive compensation packages. Through its purpose, benefits, eligibility criteria, and attachments, this program plays a pivotal role in maintaining a skilled workforce and driving organizational success.
Wisconsin Compensation Program for Officers and Certain Key Management Personnel with attachments
State:
Multi-State
Control #:
US-CC-20-297D
Format:
Word;
Rich Text
Instant download
Description
20-297D 20-297D . . . Compensation Program for Officers and Certain Key Management Personnel which is administered by Chief Executive Officer with approval of Compensation Committee. Participants receive variable compensation tied directly to achievement of key corporate-wide objectives. Participants fall within either Band A, Band B, or Band C depending on nature of their positions and their impact on corporation. Opportunities for variable compensation awards vary depending upon which "Band" participant falls into. Awards can range from 12.5% to 75% of base salaries. Plan provides that awards will not be paid unless earnings, after subtracting variable compensation, are greater than dividends paid in year for which variable compensation is to be awarded. Awards are paid in cash, stock grants and restricted stock (no transferability during first five years after grant and forfeiture of stock upon termination of employment, except for retirement, death or disability, during first years after grant)
Title: Wisconsin Compensation Program for Officers and Certain Key Management Personnel Introduction: The Wisconsin Compensation Program for Officers and Certain Key Management Personnel aims to ensure fair and competitive compensation for executives and key management personnel serving in various state organizations within Wisconsin. This program plays a crucial role in attracting and retaining talented individuals to lead and manage these organizations effectively. This article provides a comprehensive overview of the Wisconsin Compensation Program for Officers and Certain Key Management Personnel, including its purpose, benefits, eligibility criteria, and attachments. 1. Purpose of the Wisconsin Compensation Program: The primary goal of the Wisconsin Compensation Program for Officers and Certain Key Management Personnel is to establish a standardized framework for determining executive compensation across state organizations. This program ensures that officers and key management personnel receive compensation packages that are competitive, equitable, and reflective of their responsibilities, skills, and experience. 2. Benefits of the Program: The Wisconsin Compensation Program offers numerous benefits to officers and key management personnel, including: — Competitive Salaries: Officers and key management personnel are provided with salaries that are comparable to those offered by similarly-sized organizations in the private sector. — Performance-Based Incentives: The program enables organizations to offer performance-based incentives based on predefined goals, objectives, and individual performance evaluations, encouraging productivity, innovation, and excellence. — Attractive Benefits Package: Alongside competitive salaries, officers and key management personnel receive a comprehensive benefits package that includes health insurance, retirement plans, paid vacations, and more. — Professional Development Opportunities: The program encourages continuous learning and growth, supporting officers and key management personnel in their professional development through training, workshops, and educational opportunities. 3. Eligibility Criteria: To be eligible for the Wisconsin Compensation Program for Officers and Certain Key Management Personnel, individuals must typically meet the following criteria: — Hold a designated executive or key management position within a participating state organization. — Demonstrate a high level of proficiency, experience, and competency relevant to their role. — Uphold ethical standards and exhibit exceptional leadership qualities. — Comply with relevant laws, regulations, and organizational policies. Attachments: 1. Sample Compensation Guidelines: This attachment includes comprehensive guidelines for determining executive remuneration, covering various factors such as performance metrics, market conditions, and organizational budget considerations. These guidelines aid organizations in establishing fair and competitive compensation packages. 2. Performance Evaluation Template: This attachment provides a standardized performance evaluation template used to assess the performance of officers and key management personnel. It includes predefined performance indicators and rating scales, helping organizations to gauge individual contributions. Conclusion: The Wisconsin Compensation Program for Officers and Certain Key Management Personnel ensures that Wisconsin state organizations attract and retain talented leaders and managers by offering competitive compensation packages. Through its purpose, benefits, eligibility criteria, and attachments, this program plays a pivotal role in maintaining a skilled workforce and driving organizational success.
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