Jason Borrevik On Hiring a Compensation Consultant
The Top 7 Benefits of Working with an Established Professional
Why Hire a Compensation Consultant?
Private and public technology and life science companies commonly seek the advice of an independent advisor on key executive, Board, or equity compensation matters. Jason Borrevik is a Principal at Compensia — a management consulting firm located in the Silicon Valley and San Francisco, that provides a wide range of executive compensation and advisory services to assist compensation committees and senior management. He claims that a consultant works to develop thoughtful pay solutions that are customized to the client while balancing the competing objectives of company executives and shareholders. Jason Borrevik outlines some of the reasons why an organization may need to consider retaining the services of an established compensation professional:
- Develop a Compensation Philosophy: Professionals have a sophisticated understanding of guiding principles that can align program objectives and outcomes with intended results. A strong philosophy is reflective of long-term compensation objectives and should demonstrate fair and competitive pay practices.
- Compensation Trends and Practices: Understand the range of current trends and market practices specific to your competitive environment.
- Develop Pay Structures: Experienced professionals can assist companies in developing pay structures that align your employee pay outcomes with both short- and long-term company performance.
- Competitive Pay Benchmarking: Develop relevant benchmark data for key executive and Board positions at the company including any prominent new hires to assist companies in developing recommended executive pay levels
- Design/Review/Audit: Obtain strategic advice on difficult technical matters or thorny issues specific to the company’s situation such as founder executive pay reviews or managing a competitive equity compensation program within dilution constraints.
- Remain Objective: Help bridge the gap between management and the Board on challenging compensation-related matters.
- Outreach Strategy: Help developing a compelling investor/shareholder outreach strategy related to your compensation initiatives.
Trusting a Compensation Professional
With over 20 years of experience in executive compensation, Jason Borrevik’s clients range from pre-IPO to publicly traded companies. As a management consultant for technology and life science companies, he focuses on advising Boards of Directors and executive management teams on the design and implementation of their equity compensation programs.
Jason claims that through collective experience, Compensia understands the challenges associated with these rapidly evolving industries. He states that each company’s situation is unique; however, companies have a lot of flexibility to design innovative pay programs that work to achieve their long-term compensation objectives. Ultimately a professional has the experience to construct a comprehensive plan of action to align a company’s pay with its business model.