Firms rewrote bonus plans to protect exec pay during pandemic: Report - Business Insider

Olive Garden parent company Darden Restaurants was among the firms named in the Semler Brossy Consulting Group report.Big businesses are protecting executives' pay by rewriting bonus plans and changing performance targets, a report has found.

For example, Olive Garden parent company Darden Restaurants modified its bonus plans so that lower sales at the peak of lockdown won't count against execs, the group said. Some companies have simply written off the worst-performing months, while others have added non-financial metrics to bonus-linked targets, according to Semler Brossy Consulting Group's investigation of 29 large US firms, reported by theTen companies modified the period that performance is measured over, typically to cover just a partial year. This means that executives' annual performance won't be dragged down by poor performance during the peaks of the pandemic.

1. This is why the stimulus is so important. Left to their own devices, corporate execs will protect their bottom 2. If there are no frontline/entry-level employees, who will said business executives lead? 3. Incentives are important to keep employees motivated RaiseTheRate

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