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Private And Public Sectors: The History Of Severance Pay

1224 words - 5 pages

When choosing to work in public or private sector companies there are many factors to consider? Do you want to work with a company that only considered the factors of its company or do you prefer to work for a company that have employee compensation? These factors are considerably important. Based on empirical studies one of the determining reason about private sector is that it compensation is based on the company cash profits and tax avoidance rather than value of the executive compensation. In my report I support my findings of several researchers: (Tafkov, 2009), (Reda & Schmidt, 2014), and (Clausen, 1999). Researcher findings from James Reda and David Schmidt based on severance considerations and the history of severance pay. The History of Severance Pay goes back to more than 60 years. According to James Reda and David Schmidt “it is very uncommon for CEOs to have agreements with their respective companies.” Second researcher is Paul Clausen the difference between executive compensation and a business value. A company value is based on the compensation of their business. Whenever compensation is high, the lower the profits and accumulated assets associated with the value of the company. In this report the literature review will further tell you the how private and public sector differences and the factor associated with each sector, the elements of executive compensation vs. value. The gap in the literature is why employee compensation differs from executive compensation, determining reasonable in executive compensation or business value, and the determinant of executive compensation in private firms. The methodology report will show how relative performance information (RPI) on feedback from employee performance when incentives are rewarding from (Tafkov, 2009)

LITERATURE REVIEW
First in this research I will define severance considerations between public and private companies. The History of Severance pay or agreement goes back to more than 60 years ago. Researcher (Reda & Schmidt, 2014), stated that “Firm’s 2012 Study of Executive Termination Provisions Among top 200 public company showed 72 percent of CEOs had severance agreements.” According to (Reda & Schmidt, 2014) “Severance is one of the seven elements of compensation, along with salary, annual bonuses, long term incentives, benefits, perquisites, and sign on or other bonuses are the key components covered in terms of employment” (Reda & Schmidt, 2014). Private company’s severance considerations difference from public companies. Private companies primarily do not offer severance considerations like public companies. Public companies provide severance agreements for executives as a protection for the companies. Severance agreements protection can consist of incentives package such as paid compensation benefits if the company is closing or merging together with another company. In the event of the company closing employees can be paid up to a certain time frame, some...

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