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Fair Pay, Fair Play: Aligning Executive Performance and Pay Hardcover – April 12, 2010


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Product Details

  • Hardcover: 288 pages
  • Publisher: Jossey-Bass; 1 edition (April 12, 2010)
  • Language: English
  • ISBN-10: 0470571055
  • ISBN-13: 978-0470571057
  • Product Dimensions: 9.1 x 6.3 x 1.2 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (12 customer reviews)
  • Amazon Best Sellers Rank: #1,253,573 in Books (See Top 100 in Books)

Editorial Reviews

From the Inside Flap

Today's organizations are under intense pressure and unprecedented scrutiny to redefine their standards for accountability when determining executive compensation.

Fair Pay, Fair Play offers organizations,including board members, executives, HR and compensation professionals, and investors a new way to think about executive compensation; suggests a model for establishing common standards of fairness and propriety; and shows how to develop a more efficient market for executive talent. Fair Pay, Fair Play adheres to the overriding objective: "executives should be paid on the basis of how well they perform for their shareholders, relative to the external market, within contemporary standards of fairness and propriety."

In this groundbreaking work, noted executive compensation expert Robin Ferracone combines her more than thirty years experience to provide a clear examination of executive pay and offer guidance on how to determine fair pay packages, suitable actions, and appropriate designs. Fair Pay, Fair Play draws on a database comprised of over 44,000 cases, broken down by company revenue, industry group, and company performance. Using these data, Ferracone provides all those charged with evaluating executive pay with the ability to analytically determine an appropriate compensation package. In addition, Fair Pay, Fair Play is filled with real-life stories, perspectives, and insights from thought leaders on executive compensation including interviews with board and compensation committee members, executives, academicians, government leaders, and shareholder activists.

This innovative book offers hope that organizations in the future will rely on inspiration and talent development, in addition to compensation, to attract, motivate, focus, and retain exceptional executives.

From the Back Cover

Praise for Fair Pay, Fair Play

"I like the way that Ferracone tells real-world stories on executive compensation, as recounted by board members and executives on the front lines, and she backs up these narratives with well-researched statistics. Her way of looking at performance-adjusted pay is highly innovative and offers insights that we had previously not seen."
Roy J. Bostock, non-executive chairman of the board, Yahoo! Inc.

"This book is the best authoritative source on executive compensation today. It takes an extremely complex topic and boils it down to its simplest terms: alignment between pay and performance. Ferracone's Alignment Model gives us a way to test and analyze alignment in our companies. In a word—it is superb! The Alignment Model is a tool that boards, executives, and investors alike can use. This book is required reading for every compensation committee member, CEO, head of HR, and institutional investor in America."
Alexander L. Cappello, chairman and CEO, Cappello Capital Corp.

"Ferracone provides a set of principles combined with actual accounts of how companies can achieve pay-for-performance alignment on a sustainable basis. Making this happen is critical to building trust and a high-performance culture."
Richard Floersch, chief HR officer, McDonald's

"Ferracone does an excellent job of describing how executive performance and pay should be aligned. She combines quantitative research with qualitative commentary from those who are on the front lines in determining executive compensation. This combination makes the book eminently readable and a very useful guide."
Ed Lawler, author, Rewarding Excellence

"By constructing a highly fact-based and thoughtful road map, Ferracone has taken the emotion and fear out of executive compensation decision making. Following the recommendations and analyses contained in this book will enable struggling boards and compensation committees to execute better, and well-performing boards to flourish."
Anne C. Ruddy, CCP, president, WorldatWork


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Customer Reviews

4.8 out of 5 stars
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Yes, and if companies would just take the necessary steps voluntarily, governments won't have to mandate measures to address global climate change.
James Mcritchie
Robin A. Ferracone now provides firms with the analytical tools they need to compare their practices with those of other firms and to understand how to set "fair pay."
Rolf Dobelli
Points such as "ad-hoc decisions are damaging to alignment" along with "absolute performance trumps relative performance" resonate with my philosophies.
David M. Morris

Most Helpful Customer Reviews

1 of 1 people found the following review helpful By Susan Sloan on July 7, 2010
Format: Hardcover
This isn't your typical dry business expose on executive compensation. In fact, Ferracone has just the right mix of analytics and compelling anecdotal stories that makes Fair Pay, Fair Play hard to put down and a great summer read.
Ferracone writes about the complexities of executive compensation in plain English. With all of the pending legislation around Say on Pay and other financial reforms, it's interesting to understand the intricacies of pay design and the responsibilities of boards of directors in aligning pay and performance.
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1 of 1 people found the following review helpful By Magid Mina on May 17, 2010
Format: Hardcover Verified Purchase
This book presents the complexities of executive compensation in an engaging, clear, easy-read manner. It takes a topic that has recently drawn its share of populist outrage and uses analytical approaches to provide reasonable ways to think about executive pay.

The author illustrates real world challenges Boards face in retaining executives and the disastrous results that can occur by "over-paying" (because of fear the executive may leave the company). Ferracone provides uncommon-sense, analytical approaches and reason to decision making. She demonstrates on an inflation-adjusted-basis executive pay is not much greater today than in the past; however, outliers need careful attention as they can become "Black Swan" events that make big headlines.

The book also discusses human elements that go into hiring and retaining the right executives - like the critical role of the executive's passion and drive and how compensation can complement, but not create, such factors within the executive. Overall, this is the best book I have read on executive compensation!
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Format: Hardcover
Given increased public and government scrutiny of executive pay, corporate boards of directors are under more pressure than ever to implement reasonable, competitive compensation packages for their senior managers. Robin A. Ferracone now provides firms with the analytical tools they need to compare their practices with those of other firms and to understand how to set "fair pay." Using her 30 years of experience as an executive compensation consultant, Ferracone offers a relatively simple concept - "pay for performance" - while outlining the actual complexity underlying the idea. She explains the detailed mathematics of deriving critical statistics, including total shareholder return and performance-adjusted compensation. Her case studies and examples of corporate largesse offer readers welcome relief from intense statistical analysis, even though they help sell her "Alignment Report" as the prescription for compensation committee woes. Still, getAbstract applauds her thorough research and recommends her findings to board members, senior executives and human resources professionals eager to pay - and play - fairly.
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Format: Hardcover Verified Purchase
Just as it takes special tools to align high tech racing cars for maximum performance on the track, Ferracone reveals the tools necessary to align compensation for maximum motivation and performance in the workplace. Ferracone presents a fair play approach with intriguing analysis and tools that are based upon 30 years of research. If you are in the compensation game, this should be in your playbook.
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Format: Hardcover
And Robin Ferracone has turned it into a page turner about who's who in the world of the overpaid (Oracle), the underpaid (Costco), and the just right (Chevron) executives. Based on her 30 years of executive comp experience, more than 4400 case studies, and 15 years of data from the S+P 1500, measured over three year periods, she uncovers the truth about executive pay and performance. She is a compelling writer who explains why aligning pay and performance is so critical, and why companies have been so challenged in making that alignment a reality.
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By Larry Wiesler on July 19, 2010
Format: Hardcover
Executive pay makes great headlines. As a shareholder, and someone who has worked closely with boards of directors and senior executives, Ferracone's great insights around aligning executive pay with performance and making executives accountable for the decisions they make, the risks they take and the outcomes they achieve make Fair Pay, Fair Play a timely, and compelling read.
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