Publications

Listed companies’ executive and board remuneration in Finland 2018 (Finnish)

Listed companies' executive and board remuneration in Finland 2018

Reward Agency’s annual report of publicly listed companies executive and board remuneration was published at the end of May 2018. The research report contains information from listed companies’ CEO salary levels and notice periods as well as the companies short and long term incentive programs, additional pension arrangements and board remuneration. Company specific comparison can be ordered separately.

In the spring of 2018 we analysed for the fourth time the Finnish remuneration reports published by Finnish listed companies. The research data consists of 145 companies in the stock exchange’s main list and the First-North list of companies. The reporting quality of remuneration has slightly improved from last year, but the quality varies a lot between companies. Of the companies in the main list around twenty had poor or very poor reporting. Some of these companies do not have uptodate remuneration report at all or the reporting falls far short of the recommendations. In this report only two companies reports were classified as excellent with regards to their content and quality.

Research report

The report published at the end of May 2018 is based on public remuneration report and contains fresh and extensive information from CEO, executive and board remuneration, their structures and developments in Finland. The contents of the report are as follows:

  • Current issues from executive remuneration regulation and reporting
  • The survey implementation and listed companies’ governance code
  • CEO  remuneration, notice period and severance pay
  • Short and Long Term Incentive Plans
  • Pension arrangements
  • Board fees

The survey report is 18 page high quality and unique package to support decision making. The survey report will be delivered to the client through the publication system.

Company specific comparison can be ordered separately

Company specific comparison can only be ordered by the board or top management of the requesting company. In the company specific comparison we evaluate the company’s executive remuneration practices, structures and levels against a specifically agreed market or a peer group. The comparison can be carried out agains chosen listed companies, when the peer group would consist for example from 7-10 companies. Company practices can be compared also against the company’s own industry or size. Company specific comparison can be carried out in Finnish or in English.

In the company specific comparison we can analyse the company’s remuneration practices or a desired peer group with regards to the following elements:

  • Company whole salary
  • Company CEO notice period and severance pay
  • Company’s top management short and long term incentives
  • Company’s pension arrangements
  • Company board’s annual and meeting fees

The price of the company specific report is agreed separately. Results from company specific comparison are reported personally to the client.

 

Listed companies’ executive and board remuneration in Finland 2017 (Finnish)

Listed companies' executive and board remuneration in Finland 2017

Reward Agency’s annual report of publicly listed companies executive and board remuneration was published at the end of May 2016. The research report contains information from listed companies’ CEO salary levels and notice periods as well as the companies short and long term incentive programs, additional pension arrangements and board remuneration. Company specific comparison can be ordered separately.

In the spring of 2017 we analysed for the third time the Finnish remuneration reports published by Finnish listed companies. The research data consists of 140 companies in the stock exchange’s main list and the First-North list of companies. The reporting quality of remuneration has slightly improved from last year, but the quality varies a lot between companies. Of the companies in the main list around ten had poor or very poor reporting. Some of these companies do not have uptodate remuneration report at all or the reporting falls far short of the recommendations. In this report only three companies reports were classified as excellent with regards to their content and quality.

Research report

The report published at the end of May 2017 is based on public remuneration report and contains fresh and extensive information from CEO, executive and board remuneration, their structures and developments in Finland. The contents of the report are as follows:

  • Current issues from executive remuneration regulation and reporting
  • The survey implementation and listed companies’ governance code
  • CEO  remuneration, notice period and severance pay
  • Short and Long Term Incentive Plans
  • Pension arrangements
  • Board fees

The survey report is 19 page high quality and unique package to support decision making. The survey report will be delivered to the client through the publication system.

Company specific comparison can be ordered separately

Company specific comparison can only be ordered by the board or top management of the requesting company. In the company specific comparison we evaluate the company’s executive remuneration practices, structures and levels against a specifically agreed market or a peer group. The comparison can be carried out agains chosen listed companies, when the peer group would consist for example from 7-10 companies. Company practices can be compared also against the company’s own industry or size. Company specific comparison can be carried out in Finnish or in English.

In the company specific comparison we can analyse the company’s remuneration practices or a desired peer group with regards to the following elements:

  • Company whole salary
  • Company CEO notice period and severance pay
  • Company’s top management short and long term incentives
  • Company’s pension arrangements
  • Company board’s annual and meeting fees

The price of the company specific report is agreed separately. Results from company specific comparison are reported personally to the client.

 

HR-salary survey 2017 (Finnish)

HR-salary survey 2017

Reward Agency carried out HR-salary survey with HR management association HENRY ry assignment at the change of the year 2016-2017. The survey aimed to produce topical information from HR-jobs’ salaries in Finland. The target group consisted of people, whose main role was in the human resources professional, manager or leadership positions. The survey had 440 participants through an internet survey and the central findings were displayed at HENRY:s membership event at the last week of January 2017.

HR-salary survey’s data was gathered through an internet questionnaire in November-December 2016. Altogether 440 HR professionals responded to the survey. 86 % of the respondents worked in the private sector and 14% worked in the public sector. 54 % of the organisations were private non-listed companies, 29 % listed companies and 17 % for example municipal or central government organisations or foundations, associations and cooperatives. 85% of respondents were women, 15% men, 52 worked in professional jobs and 48% in managerial.

The respondents’ jobs were classified into five levels based on the given information. The classification utilizesd the job grade, if the respondent gave such. Other jobs were classified into five levels. The levels in the sample focused on demanding professional and managerial jobs, which reflects the background of the participants. Over 80% of participants had at least 6-10 years of experience. Success in similar jobs requires strong know-how and typically also wide experience from the right kind of jobs.

HR-jobs’ fixed monthly salary (base salary +benefits) median varies from 3 000 euros to 10 000 euros depending on the job level. The lowest level jobs’ incentives were very low, being around 0-1 week’s fixed salary on annual basis. The more demanding HR-jobs had on average 1-1,5 monthly salary as the short term incentive. 

Of the participating organisations 62% had a Short Term Incentive program and 55% of respondents belonged to one. Long Term Incentive program was only used in 30% of the organisations and only 12% of respondents belonged to one. The incentive opportunities are usually the higher, the more demanding the job is. In HR-jobs the maximum Short Term Incentive opportunity varies between 9-33% of fixed salary and Long Term Incentive maximum opportunities between 5-50% of fixed salary.

Read more about the results from Henry’s blog. If you are a member of Henry, you can download the free report from Henry’s website.

Listed companies’ executive and board remuneration in Finland 2016 (Finnish)

Listed companies' executive and board remuneration in Finland 2016

Reward Agency’s annual report of publicly listed companies executive and board remuneration was published at the end of May 2016. The research report contains information from listed companies’ CEO salary levels and notice periods as well as the companies short and long term incentive programs, additional pension arrangements and board remuneration. Company specific comparison can be ordered separately.

In the spring of 2016 we analysed the Finnish remuneration reports published by Finnish listed companies. The research data consists of 135 companies in the stock exchange’s main list and the First-North list of companies. The reporting quality of remuneration has not improved from the last year and the quality varies a lot between companies. Of the companies in the main list around ten had poor reporting. Some of these companies do not have uptodate remuneration report at all or the reporting falls far short of the recommendations. Eleven Finnish listed companies had excellent content and quality in their remuneration report.

Research report

The report published at the end of May 2016 is based on public remuneration report and contains fresh and extensive information from CEO, executive and board remuneration, their structures and developments in Finland. The contents of the report are as follows:

  • Current issues from executive remuneration regulation and reporting
  • The survey implementation and listed companies’ governance code
  • CEO  remuneration, notice period and severance pay
  • Short and Long Term Incentive Plans
  • Pension arrangements
  • Board fees

The survey report is 19 page high quality and unique package to support decision making. The survey report will be delivered to the client through the publication system.

Company specific comparison can be ordered separately

Company specific comparison can only be ordered by the board or top management of the requesting company. In the company specific comparison we evaluate the company’s executive remuneration practices, structures and levels against a specifically agreed market or a peer group. The comparison can be carried out agains chosen listed companies, when the peer group would consist for example from 7-10 companies. Company practices can be compared also against the company’s own industry or size. Company specific comparison can be carried out in Finnish or in English.

In the company specific comparison we can analyse the company’s remuneration practices or a desired peer group with regards to the following elements:

  • Company whole salary
  • Company CEO notice period and severance pay
  • Company’s top management short and long term incentives
  • Company’s pension arrangements
  • Company board’s annual and meeting fees

Results from company specific comparison are reported personally to the client.

 

PREVIEW

Growth companies’ management and board salary survey (Finnish)

Growth companies' executive and board salary survey 2015

Reward Agency’s and Boardman 2020-network’s management and board salary survey contains topical information for growth companies decision making. The survey’s target group consists of small and medium sized companies seeking strong growth. The research report, published in December 2015, can be ordered from our website.

There is a shortage of topical and accurate information regarding the remuneration of startup and growth companies. The owners and boards all too often need to make critical remuneration decisions based on limited information.

  • What is the right level of remuneration for the CEO? What do other growth companies pay?
  • What elements form the total compensation for management in the markets?
  • What kind of structures and levels do the incentive plans in growth companies have?
  • How much should a board member be paid? What are the others paying?

Reward Agency’s and Boardman 2020-network’s management and board salary survey contains current inforation for growth companies decision making. The survey target group consisted of startups seeking strong growth as well as small and medium sized companies. The survey results were ready in December 2015, when the participating companies received a free report.

Companies that didn’t participate in the survey can order a topical survey through the order button below. Separate company specific management and board remuneration practices feedback can also be ordered.

The survey had around 50 growth companies participating this year. Most of the participating companies’ total turnover varied between few hundred thousand euros to five million euros and personnel from less than 10 to 50 people. Nearly half of the companies predicted at least 20% increase in turnover compared to previous year. No less than 40% the participating companies predived the total sales to increase at least 50%.

The salary information provided by the companies was of very high quality, which created the basis for trustworthy database and analyses. The informative survey report gives you a unique insight into the remuneration of growth companies’ boards and management. The content of the report is as follows:

  • Introdutcion- unique information to support decision making
  • Survey implementation and database
  • Summary of growth company remuneration
  • CEO remuneration
  • Remuneration of other management
  • Incentive programs and pension arrangements
  • Board structures and remuneration
  • Development areas for remuneration

The survey report is 18 pages, high quality and unique to support decision making. The report will be delivered to client through the publication system.

Listed companies’ executive and board remuneration in Finland 2015 (Finnish)

Listed companies' executive and board remuneration in Finland 2015

Reward Agency’s report on the listed companies executive and board remuneration was published in May 2015. Read the summary of main results from my blog and order the high quality and informative research report. The research report includes information from listed companies CEO salary levels and notice periods, severance pays as well as the companies’ short and long term incentive plans and board remunerations. A company specific comparison can be ordered separately.

The regulation of executive remuneration has tightened over the last few years. The reporting of  companies listed at Helsinki Stock Exchange is primarily guided by the listed companies’ corporate governance code. Finnish companies draft their annual Remuneration reports regarding executive remuneration.

In the spring of 2015 we analysed the published Finnish companies’ remuneration reports. The research data consists of around 120 listed companies and the results are interesting. The quality of reporting of remuneration has improved over the last years and there are increasingly more excellent, clear and understandable remuneration reports. There is still high variation between companies however. Most of the companies report moderately well and ten listed companies’ report is considered excellent.

Research report

The research report, published at the end of May 2015 is based on public Remuneration reports, and it contains fresh and extensive data from CEO, management team and board remuneration and their structures and developments in Finland. The contents of the report are as follows:

  • Current issues from executive remuneration regulation and reporting
  • The survey implementation and listed companies’ governance code
  • CEO  remuneration, notice period and severance pay
  • Short and Long Term Incentive Plans
  • Pension arrangements
  • Board fees

The research report is a 19-page high quality unique package to guide decision making. The research report will be delivered for client through the publication system.

Company specific comparison can be ordered separately

Company specific comparison can only be ordered by the board or top management of the requesting company. In the company specific comparison we evaluate the company’s executive remuneration practices, structures and levels against a specifically agreed market or a peer group. The comparison can be carried out agains chosen listed companies, when the peer group would consist for example from 5-10 companies. Company practices can be compared also against the company’s own industry or size. Company specific comparison can be carried out in Finnish or in English.

In the company specific comparison we can analyse the company’s remuneration practices or a desired peer group with regards to the following elements:

  • Company whole salary
  • Company CEO notice period and severance pay
  • Company’s top management short and long term incentives
  • Company’s pension arrangements
  • Company board’s annual and meeting fees

Results from company specific comparison are reported personally to the client.

 

Improve results and reward (Finnish)

Improve results and reward

Behind excellent results is excellent performance management. Challenging targets, coaching leadership and incentivizing remuneration at their best form a clear and seamless entity. This book provides managers and directors practical tools for target setting, leadership and remuneration. Examples from a variety of companies’ challenges and best practices function as a mirror and inspirer in renewing one’s own leadership.

In rapidly changing world the meaning of leadership has not changed. The main objective of leadership is to achieve excellent results.

Organisations’ success is more and more based on immaterial capital, and the best results no longer come from traditional methods of managing only units and processes. The focus of leadership needs to be changed from units to individuals and investments targeted from machinery and systems to knowledge. Behind top results and performance is always excellent know-how.

Improve results and reward provides directors, managers and HR professionals the tools for succesful performance management. The book tells how strategic goals are transferred to practical doing through result cards, how through different competency models the organisations key know-how is recognized and how through motive, know-how and learning profiles are used to identify critical factors behind top performance. In addition the book guides how job descriptions, result cards and job evaluations should be used in developing know-how and improving performance. The book gives practical guidance in linking targets and remuneration to each other and viewpoints for different leadership styles and their efficient implementation.

Improve results and reward includes plenty of examples from companies in different industries, from their challenges and best practices. The book aims to challenge and encourage its reader for better leadership both in workplace as well as own work.

You can order the book from Talentum internet shop

Contents:

  1. The time of lone-wolf hero leaders is over
  2. Performance improving as a whole
  3. Strategic leadership and know-how
  4. Clear and challenging goals
  5. Efficient leadership
  6. Incentivizing remuneration
  7. See the big picture, do small things

 

Executive remuneration (Finnish)

Executive remuneration

The ethical questions regarding executive remuneration are ever the topic of lively discussion and interest. Media feeds the discussion regularly with catchy titles, tax information is bemoaned and high income earners receive a lot of negative feedback. The setting emphasizes the question of equity and moderation.

Executive remuneration book is meant for owners, board members, top executives and designers of executive remuneration systems. The book examines executive remuneration in a comprehensive way from different viewpoints through utilizing experiences, views and unique executive remuneration databases.

Even though the question of equity is juicy, the correct answer to the question is impossible to give. Equity and moderation are very much subjective experiences and feelings. Something that you consider unjust system can be very just from my perspective. Taking fairness into account is however relevant, since feelings of justice or injustice affect how the incentive systems are viewed.

Executive remuneration is ever a topical issue which causes emotions. Due to the financial crisis executive remuneration is regulated and instructed like never before. The media looks at executive remuneration more closely and the topic is also often subject to political discussion. In addition to regulation, also globalisation, changing attitudes and values and new ways of organising and working cultures challenge the old and familiar practices of lead and reward. The powers of change themselves are in conflict with each other and pull the companies’ executive remuneration practices to different directions.

Despite the great interest, people generally know too little of the basics and levels of executive remuneration. The actions and decisions regarding remuneration require both knowledge and the appropriate attitude, wide-reaching vision and management of large entities. One needs to have a large amount and an extensive knowledge of the factors behind executive remuneration, their causes and levels. It is also vital to remember that executive remuneration is not only money.

This piece is primarily meant for owners, board members, top executives and all designers of executive remuneration systems and decision makers. The book examines executive remuneration in a comprehensive way from different viewpoints through utilizing experiences, views and unique executive remuneration databases.

You can order the book from Boardman internet shop

Contents:

  1. Introduction
  2. Viewpoints for executive remuneration
  3. Tightening regulation and good governance
  4. Executive remuneration that increases shareholder value
  5. Executive remuneration in Finland and internationally
  6. Remuneration committee as the developer of executive remuneration
  7. Changing world challenges executive remuneration

 

The content of the book has been heavily influenced by the members of Boardman’s “The board and executive remuneration” -developing team members:

  • Samuli Sistonen, chairman
  • Manne Airaksinen, Roschier
  • Maija-Liisa Friman, Boardman
  • Mikko Haapanen, Boardman
  • Kim Karhu, PwC
  • Taru Lindeman, Boardman
  • Tuomo Lähdesmäki, Boardman
  • Esa Matikainen, Boardman
  • Markku Pohjola, Boardman
  • Tom von Weymarn, Boardman
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