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Paul R. Dorf, Ph.D., APD - ArticlesPaul R. Dorf is the Managing Director of Compensation Resources, Inc. He is responsible for directing consulting services in all areas of executive compensation, short and long-term incentives, sales compensation, performance management systems, and pay-for-performance salary administration. He has over 40 years of Human Resource and Compensation experience and has held various executive positions with a number of large corporate organizations. He also has over 20 years of direct consulting experience as head of the Executive Compensation Consulting Practices for major accounting and actuarial/benefit consulting firms, including KPMG, Deloitte Touche Tohmatsu (formerly Touche Ross), and Kwasha Lipton.
My Business is Improving - Is it Time to Restore Pay Yet?Beginning in the third quarter of 2008, many companies found themselves between the proverbial rock and a hard place with reduced revenues, but with the pressure to maintain their high fixed salary and benefit costs of their employees. The majority of companies saw their profits erode at a much faster rate than the decline in their revenues. In response to declining financials, many companies took some dramatic steps; either freezing increases and/or implementing salary cuts. Compensation Resources, Inc. Releases Its 2009 Executive Compensation Survey of Privately-Held CompaniesUpper Saddle River, N.J. – October 14, 2009 - Compensation Resources, Inc. (CRI) has released the results of their inaugural Executive Compensation Survey of Privately-Held Companies Survey. The purpose of this study was to obtain compensation data of 12 key executive positions from small to mid-sized privately-held companies Compensation Resources, Inc. Releases Its 2009 Severance SurveyUpper Saddle River, N.J. – October 6, 2009 - Compensation Resources, Inc. (CRI) has released the results of its 2009 Severance Survey. The purpose of this study was to obtain current data on the prevalence of various practices affecting severance policies among employers that represent all sizes, locations, and industries. Open Letter to Ben S. Bernake Chairman of the Federal Reserve SystemIt appears that almost everyone is speculating on what the new rule on Executive Compensation in the banking and insurance industries will be. As compensation consultants, we are obviously eager to learn what new thinking and constraints will be imposed, since these will obviously have a significant impact on the advice we will provide to our clients in the future. Increase Seen In Solicitation for Proposals From Independent Compensation ConsultantUpper Saddle River, NJ - September 18, 2009 - Upper Saddle River, NJ: Compensation Resources, Inc. (CRI) has seen a dramatic increase in requests for executive compensation advisory services from Compensation Committees of publicly-traded companies. Paul Dorf, Managing Director or CRI, indicated that, “We expected an increase as Boards respond to the current public and media outcry over excessive executive compensation. The Law of Unintended ConsequencesUpper Saddle River, NJ - July 24, 2009 - It happened again, as it always does. “The Law of Unintended Consequences” has again thwarted the good intentions of the government. Putting controls on how much money the “greedy executives” of Wall Street make Executive Perks Under Fire"As Banks Flounder, the Perks Play On". This is not a new story, nor does it surprise anyone who has been involved in executive compensation. To the heart of the matter in this instance is the issue of a company continuing to pay executive perks, long after the executive has served as CEO at the company. Rolled up into severance agreements (usually concocted at the start of the CEO's career and not at the end) are the typical benefits What To Expect From The New Pay CZAR- Earlier this week, the Administration selected Kenneth Feinberg, an attorney who oversaw the reparations to families of the 9-11 tragedy, to be the new "Pay Czar." His new responsibility to monitor and set the rules for Executive compensation is expected to attract as vocal and contentious an audience of critics, as that of his previous position. A Primer in Executive Compensation in Not-for-ProfitsThere has been a virtual avalanche of media attention on executive compensation, mostly involving large publicly-traded financial institutions. Many of these issues involve excesses resulting from greed, apparent ignorance, and arrogance. We are now in the throws of a global recession, which has resulted in plant closings, layoffs, and bankruptcies, as well as considerable pain and anxiety for much of the populace. Board Compensation - Reactions to Recent Media AttentionThe financial industry continues to be the topic of heated discussion, particularly when recipients of TARP funds paid huge bonuses and exhibited the fiscal restraints associated with the proverbial "drunken sailor". Much of the finger pointing is aimed at the respective Boards that many feel allowed it to happen. In addition, a number of recent articles indicated that some Boards are trying to set an example by cutting their own compensation.
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