Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel with attachments

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Hillsborough
• Control #: US-CC-20-297D
• Format: Word; Rich Text

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: Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel Description: The Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel is designed to attract and retain top-tier professionals in key leadership positions within the Hillsborough County government. This comprehensive program offers competitive compensation packages that encompass a range of benefits, incentives, and reward structures, ensuring that talented individuals are appropriately rewarded for their contributions to the community. Key Features: 1. Competitive Salary Structure: The program establishes a salary structure that demonstrates recognition for experience, qualifications, and performance. This ensures officers and key management personnel are compensated fairly and commensurate with their responsibilities. 2. Performance-Based Bonuses: To encourage exceptional performance, this compensation program includes performance-based bonuses that motivate officers and key management personnel to achieve predetermined goals and objectives. These bonuses are typically granted annually or in response to significant achievements. 3. Comprehensive Benefits Package: The program offers a range of benefits including health and wellness plans, retirement plans, life insurance, paid time off, and other allowances. These benefits aim to enhance employee well-being and provide financial security for both the individual and their dependents. 4. Professional Development Opportunities: The Hillsborough County Compensation Program supports continuous growth and development of its officers and key management personnel. It offers various training programs, tuition reimbursement, and professional development opportunities to help employees stay abreast of the latest industry practices and advancements. 5. Long-term Incentive Programs: The program may include long-term incentive schemes, such as stock options or deferred compensation plans, to promote employee retention and align their interests with the long-term success of the organization. Attachments: 1. Detailed Program Guidelines: This attachment outlines the specific criteria, eligibility requirements, and terms and conditions of the Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel. It provides comprehensive information that allows applicants and current employees to understand how they can benefit from the program. 2. Salary Scale and Benefits Summary: This attachment provides a breakdown of the salary scale, including different pay grades, corresponding salary ranges, and associated benefits. It offers a clear overview of the compensation structure and the entailed benefits for different positions within the program. By implementing the Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel, the county works towards attracting and retaining highly qualified professionals who are dedicated to serving the community. The program ensures that officers and key management personnel are rewarded fairly while promoting their personal and professional growth, resulting in a strong workforce capable of successfully addressing the county's evolving needs and challenges.

Title: Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel Description: The Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel is designed to attract and retain top-tier professionals in key leadership positions within the Hillsborough County government. This comprehensive program offers competitive compensation packages that encompass a range of benefits, incentives, and reward structures, ensuring that talented individuals are appropriately rewarded for their contributions to the community. Key Features: 1. Competitive Salary Structure: The program establishes a salary structure that demonstrates recognition for experience, qualifications, and performance. This ensures officers and key management personnel are compensated fairly and commensurate with their responsibilities. 2. Performance-Based Bonuses: To encourage exceptional performance, this compensation program includes performance-based bonuses that motivate officers and key management personnel to achieve predetermined goals and objectives. These bonuses are typically granted annually or in response to significant achievements. 3. Comprehensive Benefits Package: The program offers a range of benefits including health and wellness plans, retirement plans, life insurance, paid time off, and other allowances. These benefits aim to enhance employee well-being and provide financial security for both the individual and their dependents. 4. Professional Development Opportunities: The Hillsborough County Compensation Program supports continuous growth and development of its officers and key management personnel. It offers various training programs, tuition reimbursement, and professional development opportunities to help employees stay abreast of the latest industry practices and advancements. 5. Long-term Incentive Programs: The program may include long-term incentive schemes, such as stock options or deferred compensation plans, to promote employee retention and align their interests with the long-term success of the organization. Attachments: 1. Detailed Program Guidelines: This attachment outlines the specific criteria, eligibility requirements, and terms and conditions of the Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel. It provides comprehensive information that allows applicants and current employees to understand how they can benefit from the program. 2. Salary Scale and Benefits Summary: This attachment provides a breakdown of the salary scale, including different pay grades, corresponding salary ranges, and associated benefits. It offers a clear overview of the compensation structure and the entailed benefits for different positions within the program. By implementing the Hillsborough Florida Compensation Program for Officers and Certain Key Management Personnel, the county works towards attracting and retaining highly qualified professionals who are dedicated to serving the community. The program ensures that officers and key management personnel are rewarded fairly while promoting their personal and professional growth, resulting in a strong workforce capable of successfully addressing the county's evolving needs and challenges.