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The Annual Remuneration Survey of the Leisure Industry is the major source of salary and benefits data for Executives and Senior Management. It has been published for twenty years. Companies complete questionnaires on 14 Key Executive Positions. The Report covers hotels, pubs and breweries, restaurants and catering companies, health and fitness groups, casinos, cinemas, sports and exhibition centres. The 2009 Annual Remuneration Survey of the Leisure Industry is an important report on Executive Remuneration in the Leisure Industry. It helps clients ensure their salaries and remuneration packages are competitive and gauges whether financial incentives actually raise performance. Clients can get focused, accurate information on which to base decisions when conducting their Executive and Senior Management pay reviews. The report re-enforces your company's key remuneration decisions by providing detailed pay and rewards benchmarking data. It ensures that your remuneration strategy supports the business strategy during the recession and helps you attract, motivate and retain Directors and senior management. The Annual Remuneration Survey gives you an insight into Remuneration policy and practice in the Leisure industry covering leisure groups, hotels, pubs, restaurants, catering and health and fitness companies and venues. Focused tables study Average and Upper Quartile Increases and overall percentage changes in Salaries and Total Remuneration from 2008 - 2009. There is comparative data on Salaries and Total Remuneration in companies in terms of size of turnover and number of employees. The report notes the percentage increases in salaries and the value of bonuses 2005 - 2009. There are tables on the structure of Financial Incentives and Fringe Benefits in the companies surveyed. There is recognition that bonuses in the Leisure industry will be affected by the economic situation that will continue until 2010 - 2011. Pay for Performance 2008 compares increases in Salary, Total Remuneration and Total Earnings in twenty major leisure companies, against improved company performance and checks whether company reports provide sufficiently comprehensive data so remuneration increases can be justified. The twenty leisure companies are: Enterprise Inns, Georgica, Domino's Pizza, William Hill, Ladbrokes, Punch, Sodexo, J.D. Wetherspoon, Luminar Leisure, Marston's, Greene King, Compass, Diageo, Rank, Mitchell & Butlers, Millenium & Copthorne Hotels, The Restaurant Group, Carnival, Whitbread and InterContinental Hotels. The report looked at Chief Executive's Total Earnings against Turnover since 2000 and against Pre-Tax Profits since 2002. This gave a picture of the individual company's remuneration and performance and comparison against the other leisure companies surveyed. It also studied the Return on Capital Employed and Operating Profits since 2005, which indicated if the companies had healthy pre-tax profits relative to the company's value/assets. These can then be compared against the increase in Executive Remuneration. The Report focuses on the performance criteria and trigger points for Bonus and Incentive Plans to see if they are challenging. Financial Incentives should re-inforce the key financial and strategic objectives of the company and reflect company culture. As Pensions are a large part of the Executive Earnings, the report studies the impact of this future liability. It notes the company contribution to Chief Executive Pensions since 2005 and the impact of pension changes on Executive Remuneration. Do the Annual Reports provide sufficient data so that stakeholders can measure the impact of pension changes on Executive Earnings and the size of the long-term liability? Pay for Performance 2008 studies Dividend Growth in the twenty companies between 2005 and 2007 noting the size of dividends and percentage growth annually. A major criteria for success in public companies is healthy dividend growth. This is particularly important to shareholders if the Board is generously rewarded. Dividends reflect how well the company is being run and are a return on the shareholders' investment. The report finally looks at the increase in the Total Cost of the Company Boards against Earnings per Share between 2005 and 2007. Annual Reports should provide a balanced and comprehensive analysis of company performance and future risk so that remuneration packages can be seen in the context of overall company performance and risk, shareholder return and Executive performance. In this rapidly
changing business environment, leisure companies thinking about Executive
Reward will need to consider a number of key issues. Will their financial
incentives encourage Executive actions that deliver company growth and
shareholder return and will the Executive remuneration proposals gain
shareholder support? |
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