The online survey tool allows shareholders to complete a questionnaire and provide their views on a wide range of executive compensation programs and issues including pay philosophy, performance measurement, pay levels, governance and shareholder preferences regarding the frequency of future say-on-pay votes, according to a Towers Watson news release.
The questionnaire consists of both multiple-choice and open-ended questions. Companies receive a detailed report summarizing shareholders’ responses, including an analysis of differing views of shareholders and what percentage of all company shareholders the respondents represent, the news release said.
“For most U.S. companies, giving shareholders a say on pay will be a new experience when the 2011 proxy season arrives,” said Eric Larré, a Towers Watson consulting director, in the news release. “And most companies are still trying to determine how to address the shareholder engagement process. This survey offers shareholders an easy way to express specific views that Congress and the SEC determined they were entitled to communicate via the proxy process.”
More information about the product is at http://www.towerswatson.com/assets/pdf/2990/Towers-Watson-Say-on-Pay.pdf.