$1 B Outdoor Manufacturing Company
Our client was a newly divested ~$1B sporting goods manufacturer that was in their first year operating as a stand-alone company. Now, as an exclusively outdoor products manufacturer, our client had the opportunity to completely refresh and modernize their business, culture and priorities.
One of the top priorities for the company was to revisit employee compensation and update their rather antiquated philosophy and process. The Head of Compensation would be responsible for doing just that. The role would have high visibility within executive and board leadership teams with responsibility for shaping and implementing a newly designed compensation philosophy, infrastructure and process.
Our client needed an expert who would come to the table with clear ideas and experience to help them author and implement a new path forward. The right candidate would be capable of marrying the unique competitive landscape with the vision and objectives of the organization while also helping the team break from their former company’s entrenched processes and ideas. The right candidate needed to be equally strategic and “roll-up their sleeves” tactical. They needed to strike the clear balance in working within both a traditional and more progressive organization.
We love searches like this one. It was a puzzle and it required deep and targeted research. Silvester & Company conducted systematic research to identify manufacturing centric organizations with a rather progressive (for this industry) view of compensation. We looked at organizations of similar scale or more. From there, we created specific and targeted groups of potential candidates and sources whose experience indicated they had worked in other manufacturing companies and/or had experience designing new programs and systems.
Then, we reached out to our vast network of professionals for additional sources and ideas. Combined with our research, we had a thorough mapping of the market and list of highly qualified candidates. Our team spent a lot of hours talking to these candidates and educating them about our client, who had no visibility or reputation established as a relative “start-up”. Helping potential candidates see the opportunity in a role like this was a lot of fun. It’s not that often you get to create an entirely new compensation system for a $1B company.
After interviewing three candidates, our client hired a bright, young and highly capable compensation expert who came from a small boutique-consulting firm where he designed and implemented compensation programs for companies of all sizes and levels of complexity. He was polished, creative and adaptable. Having tailored a compensation strategy to meet the needs of all types of companies and cultures, he was well prepared to own it within an organization like our client.