In his new role, Spenthoff will lead Nationwide’s sales efforts in the Austin/San Antonio region.
According
to the announcement, Spenthoff previously served as an internal
wholesaler on Nationwide’s retirement plan sales team. Prior to joining
Nationwide, he was the founder, owner and operator of a real estate
consulting business, serving many area banks and businesses by providing
appraisal, real estate management and consulting services.
Spenthoff earned his undergraduate degree in economics from Ohio State University.
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A new survey by Hewitt Associates found that how companies leverage
their compensation and benefits programs during mergers and
acquisitions plays a critical role in retaining key talent and ensuring
the overall success of the deal.
According to a press release, Hewitt’s July M&A survey
of 103 companies showed that they all shared four key strategies during the process: focusing on liabilities in
due diligence; looking at total rewards in aggregate; being deliberate
about talent retention; and being well-equipped, highly-focused, and
effective.
The “overachiever” companies gave extra attention to total
rewards elements in due diligence that are most likely to create
liabilities, including employment contracts, change-in-control and
severance agreements (95%); executive compensation (90%); defined
benefit retirement plans (79%); and executive benefits and perquisites
(74%).
The survey found that during the purchase agreement stage,
more than two-thirds (67%) of successful organizations provided
compensation and benefits similar to those of the acquired company for a
set time after close. This broad commitment helped ensure employees
didn’t experience a loss in the value of their rewards because of the
acquisition—a core concern of most employees. These organizations were
also more likely to make similar commitments for their employees in a
divestiture situation (69%).
Most successful companies (63%) also examined compensation
and benefits together and as part of a larger reward strategy after the
deal closes. These companies looked for tradeoffs that enabled
increases in some areas of benefits and compensation to be offset by
decreases in other areas, Hewitt said.
More than three-quarters (77%) of all companies identified
retention packages among the most effective tools in retaining top
talent during a transaction. However, successful companies typically
developed packages that were contingent upon the achievement of
post-closing metrics and in all instances, the retention bonuses were
payable within three years. These packages were also often offered much
deeper within the organization—below the senior executive level.
Beyond specialized retention packages, the survey shows
that companies that exceeded their deal objectives also paid more
attention to areas such as role selection and identification of
high-potential talent.
According to Hewitt, more than half (58%) of companies that
exceeded their deal objectives had highly capable, globally-experienced
teams that were adept at executing effective total rewards
initiatives in transactions. Most importantly, these organizations were
very effective at retention planning, addressing retirement benefits,
and addressing executive compensation plans.