The Remuneration Academy is independent and its composition diverse. The aim of the academy is to increase awareness among decision- and opinion-makers so that the pay and incentive schemes of companies are perceived as legitimate by the company’s stakeholders at the same time as being affective, balanced and relevant. The aim is further to both deepen and broaden the public debate on the issue.
The Remuneration Academy should
- take a position in principle issues and base its positioning on relevant scientific research and proven experience,
- assume that a variable remuneration, used correctly and properly designed, is a legitimate form of compensation,
- ensure that the incentive schemes are developed by transparent principles and, create the right incentives within operations with regard to relevant circumstances
- stimulate research and discussion on the importance and role of incentives for the economy
- pay attention to the role of incentive schemes’ wider implications on economic development, competitiveness and trust in business and businessmen
The Remuneration Academy should not
- advise companies on individual basis,
- recommend what is a reasonable compensation for senior executives,
- comment normatively on an individual case (company or person) that has been highlighted in the debate
- comment to journalists who write about individual cases, even if general questions are asked
- the academy arranges meetings at regular basis to discuss issues related to incentives and to plan activities that contribute to the achievement of the aim of the academy.
- the academy is compiling a body of knowledge on incentives by analyzing international literature and media reporting. The academy also observe the Swedish public debate on incentives systematically
- the academy collect information and produce reports, which in some cases are distributed to the public and/or other stakeholders
- the academy contributes to the media debate on incentives. Academicians are available for comments and expertise