Many Remuneration Committees struggle to stay on top of the increasingly complex task of governing remuneration for KMP roles. The Remuneration Governance Framework can put all the basics to bed, formalise the Company's position, serve as a useful reference to new members, serve as an audit tool and free up the Committee to deal with emergent salient issues. However most Boards do not have a complete framework in place and spend a great deal of time getting up to speed on company practices and often revisiting similar issues over and over again.
Having met with a large number of Remuneration Committee members and Board Chairs, I wrote a short article to help Boards understand what the framework is and how it can free up the Remuneration Committee to focus on the most critical aspects of remuneration governance. Internal remuneration professionals, or external consultants, have a role to play in assisting the Board to develop the framework. See the link below for more
http://www.godfreyremuneration.com/documents/130923_RI53_Remuneration_Governance_Framework.pdf
