NEW YORK, NEW YORK, UNITED STATES, December 19, 2018 /EINPresswire.com/ -- An essential component of competitiveness is the retention of institutional knowledge; you don't want to let creative, smart, competent people walk out the door.

Bruce Ellig served in various leadership roles with Pfizer for more than 35 years, including corporate vice president, and most recently as the pharmaceutical company’s head of Worldwide Human Resources for 15 years. Now retired, Ellig is a much sought-after expert on the subject of executive compensation.

“Determining an executive’s compensation is all about understanding what you are trying to accomplish and figuring out how best you can structure pay programs that will reward individuals for meeting or exceeding the organization’s goals,” says Ellig.

Ellig says his approach to executive compensation is an extension of Pfizer’s culture of inclusiveness and partnership.

“You figure out how to entice an individual to come into the organization. Once you've brought an individual into the organization, he or she is going to be judged on the same set of standards of the people who are in the organization,” says Ellig. “At the beginning you set goals and objectives of the year as to what that individual has to accomplish, within what time frame, and at what cost.”

Ellig says the further up you go in the organization, the more the individual’s pay is going to be based on incentives and less on salary. More aggressive individual will elect for the lower salary and the higher bonus. more conservative individuals will take a higher salary and a lower incentive.

Ellig is the author of the third edition of The Complete Guide to Executive Compensation.

“This is a definitive book. It is not light reading. Three pages of this will put the average person to sleep. But if you are concerned with structuring executive pay plans, this is the go-to desktop reference book.”

CUTV News Radio will feature Bruce Ellig in an interview with Doug Llewelyn on December 21st at 10am EST.

Listen to the show on BlogTalkRadio.

If you have a question for our guest, call (347) 996-3389.

For more information on Bruce Ellig, visit www.bruceellig.com

Lou Ceparano
CUTV News
(631) 850-3314
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