Human Capital Services

Transcription

1 Human Capital Services 1

2 Garrigues is an international legal and tax services firm that provides business law advice in the main economic arenas of the global marketplace. Since its creation in 1941, the firm has been noted for its international outlook and innovative nature.our team is made up of two thousand people of twenty-five different nationalities who, under a single integrated management team and with the same quality standards, operate in thirteen countries across Europe, the Americas, Asia and Africa, through a well-established office and team structure. All Garrigues professionals share the same hallmarks: empathy with the client, ongoing dedication to understanding client needs and strict compliance with ethical standards. These qualities, together with their broad experience, training and availability, make us one of the most prestigious and professional law firms in the industry. Garrigues is one of the largest international law firms and is among the top law firms worldwide. 2

3 Added Value Experience and prestige We can boast 75 years at the forefront of the legal and tax services industry, playing an active role in legal and economic life. Independence and ethical values Our work is governed by strict ethical principles and an in-house code of professional conduct that ensure the transparency and independence of our services. Technical expertise and specialization The ongoing training of our professionals is a strategic value. We have experts in more than 30 practice areas and industry groups, taking in everything from traditional fields of legal practice to the newest branches of law. Flexibility and adaptation Our relations with clients are informed by trust and empathy. The aim is to offer a bespoke service, in keeping with the needs of each particular engagement. Rapid response time and anticipation We offer full availability and the capability to always be one step ahead. We are keenly aware that flexibility is of the essence. Knowledge management and technological resources We have a knowledge management system that enables us to share necessary know-how with clients as and when required. INTERNATIONAL RECOGNITION Garrigues, named Best Company to Work For Actualidad Económica 2018 Americas Tax Policy Team of the Year: Garrigues Colombia Americas Tax Awards, International Tax Review 2018 Transatlantic Independent Law Firm of the Year ALM (The American Lawyer - Legal Week) 2018 Law Firm of the Year: Iberia The Lawyer European Awards 2018 and 2016 Best Tax Firm Expansion Legal Awards for Excellence in Business Law Practice European Law Firm of the Year The British Legal Awards 2017 Regional Client Service Law Firm of the Year Chambers Latin America Awards 2017 Continental Europe s leading firm The European 100 The Lawyer 2017 Client Service Award for Spain Chambers Europe Awards 2017 Law Firm of the Year: Andes LatinFinance Deals of the Year Awards 2017 M&A Legal Adviser of the Year: Spain Mergermarket European M&A Awards 2016 European Law Firm of the Year: Spain The American Lawyer Transatlantic Legal Awards

4 An integral service Practice areas Garrigues provides ongoing and specific advisory services on all areas of business law. For decades, our multidisciplinary expertise has delivered added value to our clients and has enabled us to participate in the most significant and complex deals in the market. Industry groups Due to the teamwork of specialists in different fields of law, we can offer our clients integral advice on the corporate-commercial, tax, labor and employment, civil, environmental or administrative/zoning law issues that may specifically impact a given industry or sector. Accounting Law Employment Law Automotive Real Estate Administrative Law Banking and Finance Corporate Law and Commercial Contracts Litigation and Arbitration Mergers & Acquisitions Planning and Zoning Corporate Governance & CSR Energy Family Business Smart Cities Sports & Entertainment Technology & Outsourcing Criminal Law Environmental E.U. & Antitrust Human Capital Services Real Estate Restructuring and Insolvency Securities Markets Tax Fashion Law Financial Institutions Insurance Life Sciences & Healthcare Telecommunications & Media Tourism & Hotels Transport & Shipping Intellectual Property Private Equity Labor and 4

5 Garrigues Human Capital Services Garrigues Human Capital Services offers our clients an integral view of the HR area through a multidisciplinary team, including lawyers, tax advisors and consultants. Unlike traditional consulting and advisory services, our department offers a global compensation and HR organization service, addressing the strategic and design implications and covering all the tax and legal aspects intrinsic to services of this kind. Our clients include listed and unlisted companies, both large and small, and hailing from all sectors and industries. We also act as advisers to remuneration committees of a large number of Spanish listed companies. 5

6 Areas of expertise Advice on the design of compensation structures Compensation is one of the principal tools for attracting talent. For a compensation system to achieve its goals, it has to be designed with two basic principles in mind: internal fairness, ensuring that the compensation for different jobs is commensurate with the contribution of each job to strategic goals; and external competitiveness, making sure that the compensation rates and structure are attractive compared with those on offer at similar organizations. Compensation structures must be carefully designed to take into account the characteristics and idiosyncrasies of the organization and the environment in which it operates. The services offered by Garrigues Human Capital Services include: Analyzing existing compensation models and identifying the factors determining the salary model: geographical location, size of enterprise, profitability, business, etc. Variable target-based compensation systems A properly defined variable compensation policy can yield important benefits for an organization. This is why the design phase has such a major bearing on the result. In the definition and start-up of target-based variable compensation systems, Garrigues Human Capital Services assumes the following tasks: Designing the architecture for variable compensation systems, defining the system characteristics and the rules that will govern its operation. Defining the targets on which collection of the variable compensation will be based, aligning targets with the organization s strategic requirements. Building system management tools. Defining tools that enable the treatment of compensation for employees to be managed throughout their careers within the organization. Defining pay bands by occupational group, in which the treatment of employee compensation can be developed under the broadband concept. Analyzing the degree of internal fairness between groups of jobs, having regard to flexibility, balance and progression within pay bands. Establishing the right compensation mix for each group of jobs, bearing in mind their characteristics. Conducting salary and compensation mix benchmarking exercises. 6

7 Flexible compensation systems Garrigues Human Capital Services has a wealth of experience in designing and implementing flexible compensation systems: Design and implementation of flexible compensation systems Establishing the general framework for, and selecting the alternatives to be included in, a flexible compensation system is one of the keys to its success. This analysis must take into account the needs of employees and the advantages that would be yielded by the inclusion of each of the alternatives in the system. The beneficiary communication plan is critical to the success of compensation systems of this type. We prepare all the necessary documentation and we work alongside organizations to make presentations and hold meetings with the beneficiaries of the program in order to explain and resolve any queries. System management When implementing a flexible compensation system, it is standard practice to have an IT tool enabling the employee to adequately analyze the different scenarios that may arise when designing his or her own compensation package. Medium-term cash incentive programs Medium-term incentive programs are an essential factor for achieving any organization s goals, serving to motivate and reward executives and employees alike, and orienting their management towards the long-term. System design The success of these programs depends on their goals being correctly defined. Our experience enables us to help companies choose the metrics that best match the organization s strategy. The cost of implementation must also be estimated, and evaluated in line with market practice. Implementation Once the medium-term incentive system has been designed, the documentation regulating its operation must be drawn up. Garrigues Human Capital Services provides the necessary support to ensure that the organization has the legal documentation it needs to correctly implement the program. Garrigues Human Capital Services has a specific methodology for compensation arrangements of this type, based on an IT tool that enables beneficiaries to find out in real time the tax savings and different tax planning opportunities yielded by the implementation of a flexible compensation system. 7

8 Stock incentives Giving employees a stake in the company is standard practice among large business organizations. This arrangement seeks to establish establish a common goal for employees, management and shareholders. The link between employees and shareholders can add significant value to the company and give employees an attractive, long-term loyalty-building instrument. Garrigues Human Capital Services has helped to design and implement stock incentive plans at numerous Spanish companies (both listed and unlisted). In fact, over half of the companies making up the Spanish IBEX 35 have engaged us to design and implement their stock incentive plans, and analyze their tax and legal implications. Retirement-linked compensation systems The importance of employee welfare in compensation packages depends on factors such as the company s competitive pay policy, its financial position, its eagerness to attract or retain employees, etc. In this respect, pension plans have become one of the key tools for bargaining and compensation in the field of HR management. As a multidisciplinary organization, Garrigues Human Capital Services can call on a team of tax and legal advisers, actuaries and consultants, whose combined input allows it to offer a comprehensive approach to designing and implementing pension plans. The main services provided by Garrigues Human Capital Services in this area are: Analyzing the different alternatives for implementing the system that best meets the objectives pursued by the company. Designing the plan. Analyzing the tax and legal implications. Preparing the documentation on the start-up of the plan. Preparing the plan for communication to beneficiaries of the stock incentive program. Checking the international implications of the start-up of stock incentive plans: tax and legal implications. 8

9 Advice to remuneration committees The latest corporate governance trends, primarily at listed companies and financial institutions, have strengthened the role played by the remuneration committees of boards of directors in defining an organization s compensation policy and ensuring that the policy is observed. These trends have revealed the importance of having professionals with training and experience in compensation matters sit on these committees, and of their ability to call on outside advice, whenever necessary. Our experience has enabled us to become advisers to the appointments and compensation committees of the boards of numerous companies, advising both on compensation policies and their alignment with each organization s business strategy, and on the process for the periodic evaluation of the functioning of the board of directors and its committees. We have also advised a large number of financial institutions on the process of adapting their compensation systems to legal standards and requirements. Our services in this area can be summarized as follows: Providing ongoing advice to remuneration committees, to ensure their members have all the information necessary for decision-taking. Assisting with the definition of the guiding principles and essential characteristics of a company s compensation policy, and with putting in place procedures to ensure that they are observed. Conducting benchmarking exercises on board and executive pay. Assisting with and advising on the preparation of the annual compensation reports to be published to comply with various obligations and recommendations (annual report, annual corporate governance report, compensation report, annual prudential significance report, etc.). Advising on the process for the evaluation of the functioning of the board of directors and its committees. 9

10 International HR management Many Spanish companies conduct part of their business abroad. As part of this internationalization process, it is common practice for companies to assign qualified personnel and executives abroad, in order to ensure that the guidelines set by the parent company are implemented. This process is not without its pitfalls for Spanish companies. Knowledge of the laws of different jurisdictions, consideration of different lifestyles and standards of living, and the establishment of clearly-defined promotion and returning expatriate policies are all issues that need to be considered when planning foreign assignments. We can draw on our experience of expatriaterelated issues to offer the best advice and planning to companies and their expatriate employees alike: Designing and preparing expatriation policies on matters including compensation, and tax and legal issues. Preparing internal rules of procedure and manuals for assignments. Tax optimization: claiming the various forms of relief aimed at inbound and outbound expatriates. Strategic HR management Defining the HR strategy is key to success. The appropriate management of human resources allows an organization s defined strategic goals to be pursued and achieved, aligning personal performance and motivation with the organization s values and goals. At Garrigues Human Capital Services our services include: Defining the HR strategic plan and organizational management model. Preparing a catalog of competencies based on the business strategy. Designing and implementing HR policies and management tools (selection and recruitment, compensation, professional development, evaluation, etc.). Analyzing and redesigning organizational structures. Preparing responsibility assignment matrices in the corporate and business areas. Defining performance indicators. HR scorecards. Analyzing market trends: Benefits provided, tax protection arrangements, salary terms and tax optimization. Non-financial conditions of the assignment/ posting package. Returning conditions. 10

11 Organizational change planning and management In deals involving major organizational changes (reorganizations, mergers and acquisitions), the right planning and management of the organizational implications are essential to ensure the ultimate success of the process. Garrigues Human Capital Services can help organizations anticipate and deal with the multiple expectations and instances of inertia that can coexist at all levels, offering an integrated approach allowing attention to be paid to aspects including the following: Assessment and diagnosis of the environment at the company. Management of internal communication: communication plans. Workforce planning: right-sizing and competency profiling. Integration of teams. Work-life balance, flexibility and equality In addition to the compensation-related aspects, company strategies for attracting and retaining the finest professionals also tend to consider policies and measures that help strike a balance between working life and private life, and and offer work flexibility. Moreover, legislation requires companies to take measures to ensure equal opportunities for men and women. Our professional services in this area can be summarized as follows: Diagnosing the extent to which an organization offers equal opportunities for men and women. Developing and implementing equality plans. Conducting work-life balance and equality benchmarking exercises. Advising and assisting clients in the process for obtaining Family-Friendly Employer (EFR) certification. Management audits. Evaluation and integration of HR policies. 11

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13 Contacts Salvador Espinosa de los Monteros Partner in charge of the Garrigues Human Capital Services department Eduardo Gómez de Salazar Partner Mónica Sevilla Partner David Pérez Basconcillos Partner 13

14 Garrigues offices International offices THE AMERICAS AFRICA EUROPE BOGOTA T bogota@garrigues.com CASABLANCA T casablanca@garrigues.com BRUSSELS T brussels@garrigues.com LIMA T lima@garrigues.com MEXICO CITY T mexico@garrigues.com NEW YORK T newyork@garrigues.com ASIA BEIJING T beijing@garrigues.com SHANGHAI T shanghai@garrigues.com LISBON T lisboa@garrigues.com LONDON T london@garrigues.com OPORTO T porto@garrigues.com SANTIAGO DE CHILE T santiagodechile@garrigues.com WARSAW T warszawa@garrigues.com SÃO PAULO T saopaulo@garrigues.com 14

15 Offices in Spain A CORUÑA T acoruna@garrigues.com ALICANTE T alicante@garrigues.com BARCELONA T barcelona@garrigues.com BILBAO T bilbao@garrigues.com LAS PALMAS DE GRAN CANARIA T laspalmas@garrigues.com MADRID T madrid@garrigues.com MALAGA T malaga@garrigues.com MURCIA T murcia@garrigues.com OVIEDO T oviedo@garrigues.com PALMA T mallorca@garrigues.com PAMPLONA T pamplona@garrigues.com SAN SEBASTIAN T sansebastian@garrigues.com SANTA CRUZ DE TENERIFE T tenerife@garrigues.com SEVILLE T sevilla@garrigues.com VALENCIA T valencia@garrigues.com VALLADOLID T valladolid@garrigues.com VIGO T vigo@garrigues.com ZARAGOZA T zaragoza@garrigues.com 18 15

16 Hermosilla, Madrid (Spain) T F Follow us in en 16