NEW YORK, Nov. 19, 2013 /PRNewswire/ -- "It seems to me that we've got quite a disconnect: charges of excessive executive compensation have filled the business press for years, but few understand why pay plans are to blame," says executive compensation expert Bruce R. Ellig, author of the revised and expanded third edition of The Complete Guide to Executive Compensation, which will be published by McGraw-Hill on December 27, 2013.
The Complete Guide to Executive Compensation contains the most extensive coverage available of the executive compensation subject, including how pay plans can be used to encourage executive performance.
Fully updated, the third edition addresses important changes regarding venture capitalism, boards of directors' responsibilities, shifts in stakeholder power, and laws such as the Dodd-Frank Wall Street Reform and Consumer Protection Act and healthcare reform. It takes an in-depth look at each of the executive pay elements: salary, employee benefits, perquisites (executive benefits), and incentives (both short- and long-term). The book distinguishes between current and deferred compensation (including statutory requirements) and examines the role of the board of directors and its compensation committee, along with the influence of the major stakeholders – most notably the shareholder. It also takes a detailed look at the various performance measurements of the income statement, the balance sheet, and the cash flow statement that are used in incentive plan payouts.
The book helps to evaluate company culture, organization, and strategy to create a compensation package that meets organizational needs. It contains a timeline of executive compensation and related actions, and also identifies possible future changes. It includes appendices of selected laws, Internal Revenue Code sections, IRS revenue rulings, SEC actions, accounting interpretations, and a bibliography of selected books. In addition, it includes the DJIA history and a glossary of more than 2,000 definitions.
The Complete Guide to Executive Compensation is written for academics; consultants and in-house pay designers; boards of directors and their compensation committees; executive recipients of such pay plans; and various stakeholders, especially shareholders, legislators, regulators and the business press.
About the Author
Bruce R. Ellig is a noted authority on executive compensation with over 35 years of experience. Before retirement, he worked at Pfizer Inc. for 12 years as corporate vice president and head of worldwide HR, reporting directly to the Chairman and CEO. During this period, he also served as secretary to the board's compensation committee, in addition to being a member of the internal compensation committee, headed by the Chairman and CEO.
Mr. Ellig has served on several boards of directors (both for-profit and not-for-profit), including as chairman of the national board of directors of The Society for Human Resource Management (SHRM). He also served on several advisory boards and was a member of numerous premier HR organizations, assuming leadership positions in many of them.
Widely quoted in business publications throughout the world, Mr. Ellig has also been interviewed on national and international television and radio programs. He is a frequent speaker, and author of well over 100 articles and eight books. In addition, he served for many years as a program designer and instructor for WorldatWork's executive compensation programs.
Mr. Ellig's expertise has been recognized by his professional peers with numerous honors and awards including several "Man of the Year" awards and the prestigious lifetime achievement award from SHRM and WorldatWork. He was elected to the National Academy of Human Resources in 1993, a year after its formation.
He is listed in Marquis Who's Who in Finance and Industry, Who's Who in America, and Who's Who in the World.
Mr. Ellig received the Distinguished Business Alumni Award from the University of Wisconsin where he earned his BBA and MBA and was elected to Beta Gamma Sigma and Phi Beta Kappa.
SOURCE Bruce R. Ellig