WSJ – Tech Giants Turn to a Classic Recruitment Tool: Cash
February 28, 2022
After years of enticing employees with large stock awards and surging share prices, some tech companies are deploying a time-tested tool: cash.
Employers’ recent changes to compensation have been fueled by a desire to blunt attrition during a period of labor market upheaval caused by employees re-evaluating their careers after two years spent working from home, recruiters and compensation consultants said. Inflation and the stock market’s volatility have also led staff to re-evaluate their appetite for risk and preference for cash.
As cash compensation looms larger, some companies are increasing the size of merit-raise pools to 4% of payroll from a typical level of 3%, said Robin Ferracone, founder of compensation consulting firm Farient Advisors.
About Robin Ferracone
Founder and CEO, Farient Advisors/GECN Group
As the founder and CEO of Farient Advisors LLC, Robin has led the strategic development and expansion of the executive compensation, performance, and corporate governance advisory firm. Her client work focuses on providing high-impact decision-making support and organizational solutions based on insightful market insights.
With over 30 years of consulting experience, Robin advises clients in business and talent strategies, executive compensation, organization, value management, and performance measurement. She is the author of Fair Pay Fair Play: Aligning Executive Performance and Pay (John Wiley & Sons, 2010). In addition, Robin has authored numerous articles, is a regular contributor to Forbes.com and Directorship magazine, and is often quoted in national publications. She is a frequent presenter for prominent organizations such as the Council of Institutional Investors, Society for Corporate Secretaries and Governance Professionals, the National Association of Corporate Directors (NACD), and The Conference Board.
Robin formerly served on the board of directors of Trupanion, Inc., where she chaired the compensation committee. In addition, Robin is a trustee emeritus of Duke University. She currently chairs the board of WildAid and is a member of 5050 Women on Boards, NACD, Women Corporate Directors, YPO Gold, and the Trusteeship. For 12 years, Robin has been named to the NACD Directorship 100, a list of the most influential people in corporate governance and the boardroom. In 2014, she was selected as one of EY’s Entrepreneurial Winning Women, an annual competition recognizing female entrepreneurs. Robin is also a founding partner of the Global Governance and Executive Compensation (GECN) Group collectively serving clients in more than 35 countries across five continents.
Robin received an MBA from Harvard Business School and a BA in management science and economics from Duke University.