The strong inference is that as remuneration consultants we are, partially at least, responsible for what is wrong with executive pay. Indeed, they consider that we have been complicit in making executive reward too complex and presumably therefore, not sufficiently transparent. Personally, I would agree that complexity is not necessarily a positive, especially if it makes executive packages impenetrable and barely understandable. Frankly, our job, especially in relation to executive benchmarking, would be a lot easier if packages were considerably simpler.
Having said that, I do not really identify with the consultants they appear to be talking about. At Paydata we can certainly do some complicated and pretty darn smart things but ultimately, the results of the benchmarking analysis we undertake and the guidance we provide has to be readily understandable, accessible and clear. That’s just the way we work. If the unions can use their collective shareholdings to encourage others to do the same, so much the better.