Compensation and benefits
Tax effective compensation packages to motivate and retain employees
Organisations seek to design and operate compensation and benefit programs in a cost-effective, tax efficient and compliant manner – for the employer as well as employees. Deloitte professionals help align compensation and benefits programs with a company's overall talent and corporate strategies, and the marketplace needs. We help address a complex array of tax matters at various stages of a company's lifecycle, including mergers, acquisitions, divestitures, right-sizing, and general restructuring. Beyond compliance, our integrated team of specialists can help explore opportunities to transform global employment programs, such as, discerning the total rewards that critical employees want and need; identifying incentives for employees to successfully carry out company business and talent plans; and exploring ideas that provide a cost-efficient return on investment (ROI).
How we can help
Employers increasingly require more inventive remuneration packages whilst retaining cost effectiveness. Compensation and benefits are key to the motivation and retention of executives and employees, and can also be structured to achieve human resources and strategic goals including tax savings for both employers and employees. Our professionals align compensation and benefits programs with a company’s overall talent and corporate strategies, and the marketplace needs.
The economic downturn has resulted in the need to defer some forms of compensation into the future, yet ensuring that the key personnel of the workforce are retained and motivated.
This, together with changes in the Irish tax landscape, has led companies to review their current incentive arrangements in order to ensure they properly support the business strategy, encourage the right behaviours, retain and motivate employees, and do not encourage excessive risk taking. From what might be considered a ‘good housekeeping’ perspective companies are reviewing current positions to ensure that incentive arrangements are structured in the most tax efficient manner.
Our compensation and benefits team is comprised of professional and experienced accountants and employment tax specialists who can advise on all aspects of compensation arrangements, including:
- Compensation structure to achieve corporate objectives while minimising or deferring tax costs
- Equity based compensation for local and overseas employees
- Tax planning for senior executives moving to or from Ireland, including managing all aspects of personal wealth
- Retirement planning to maximise tax effectiveness
- Interaction of entitlements under pension schemes and retirement planning