Comprehensive, Collaborative Compensation Planning
Over the course of our relationship with a company’s management and compensation committee, we operate as a close partner. Our approach is to gain an in-depth understanding of the business strategy, as well as the cyclicality of the business, operational issues, company culture and any other unique challenges. Once we have a full understanding of these areas, we are able to develop compensation programs that support a company's drive to meet its business goals, both long and short, and create shareholder value.
FW Cook consultants employ a proven process that has been honed over decades of service.
A Thorough, Objective Approach
We employ a time-tested consulting process to develop custom solutions for our clients. This requires an understanding of the strategic challenges and opportunities within the industry and the financial objectives of the particular client. It necessitates an in-depth knowledge of our client’s culture and an understanding of the company’s background. To effectively serve our clients, we must have a thorough command of technical issues such as: tax implications, accounting requirements, SEC-related issues, and stock exchange listing standards. We must be responsive and flexible but objective and thoughtful. Success occurs when we help develop solutions that effectively align the interests of the board, management, and shareholders.
In our role as outside advisors, our consultants employ a process that allows the company and the compensation committee to be prepared and work collaboratively in advance of committee meetings. We also endeavor to communicate plainly and clearly so that all parties involved in the decision making process are well informed. Our goal is to have a productive working relationship and to work as a team in accomplishing the client’s objectives.
What You Can Expect from Your Team
In order for our firm to best serve our clients, you can expect the consulting team to possess qualities that include:
- Technical depth – we expect our consultants to possess in-depth knowledge and understanding of technical topics in order to add value on a real time basis
- Collaboration – we are able to quickly leverage our collective experiences and knowledge to provide our clients with critical insight into the challenges affecting companies in similar circumstances and industries
- Problem-solving – rather than telling our clients what cannot be done, we help develop innovative solutions to challenges faced
- Responsiveness – our staffing approach facilitates the timely responsiveness to client situations and the ability to react to situations as they arise
- Experience – our practice is to staff assignments with people who have experience with similar client situations
- Objectivity – our firm’s culture is built on objectivity and our consultants understand that we add more value by being objective
- Independence – our firm policy has always required consultants to be independent, even before Dodd Frank rules were established
From the very beginning, our founder, Mr. Cook set the standard for consultants to be multi-discipline thought leaders with respect to executive compensation. It was important to be experts in all facets of the field. Our consultants still approach the business that way today.
Our Staffing Model Optimizes Experience and Support
Our practice is to staff an engagement with a leader who has ultimate responsibility for the project and relationship. The lead consultant is supported by experienced consultants in addition to analysts and technical resources of the firm. This approach is intended to optimize the cost benefit to the Company, enable us respond quickly to client needs and develop our consulting talent. Our typical client team consists of the following primary roles:
- A lead consultant, who attends meetings, serves as the primary point of contact and is ultimately responsible for the services provided
- An experienced consultant serving as the project manager who may also attend meetings, is a day to day point of contact for the client, and who oversees analytical efforts
- One or more experienced research consultants/analysts who are mainly responsible for analytical work
Because of our collaborative culture, every engagement is a team effort which includes our technical experts. Information sharing, collaboration and knowledge transfer are firm-wide standards, culturally embedded in our organization. This is reflected in our internal communication system that enables rapid response and can offer clients the collective experiences of all of our consultants.