Excerpt: As the global financial crisis unfolds, directors and senior management teams are trying to come to grips with the implications for their business strategies and for their employees. Governments are imposing restrictions on executive remuneration at financial institutions that benefit from rescue efforts, and these constraints may be a harbinger of future regulation of executive remuneration programs, particularly in the US and Europe. Shareholders are seizing the moment as well. They are calling for constraints across industries, continuing their demands for 'pay for results' and decrying 'pay for failure.' This is a time for organizations to take a balanced approach to executive rewards ? one that recognizes the external realities while continuing to support human capital strategy.

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