Assume you are the head of the public relations office of GSIS (Government Service Insurance System)...

Assume you are the head of the public relations office of GSIS (Government Service Insurance System) that just gave its CEO a huge bonus. Outline a plan to be presented to the press justifying the bonus given to the CEO.

To clarify, GSIS is a social insurance institution that provides a defined benefit scheme under the law. It insures its members against the occurrence of certain contingencies in exchange for their monthly premium contributions.

Expert Solution

In recent years there have been any cases where the CEOs are being paid in far excess of what an entry level employee would make and this has cause criticism in many cases where even in circumstances where the performance of the company has been poor but the senior management continues to receive high salary and bonus and this issue has also grabbed a lot of media attention and shareholders have been cautious to invest in companies where such activities are going on. If the GSIS performance has been good and a lot of is because of the CEO action and plan so the bonus is justified. In order to justify this plan to the media, the company should release a press statement, the press statement should consist of the key contribution of the CEO during the year and key performance outcomes ratios like, net income, increase in year on year basis and other such financial statement ratios. The company should also mention the future plan of the company which is being led by the CEO and how it is going to benefit the shareholders in the long-term. In the press briefing the company should mention about the bonus structure of the CEO and explanation that this pay structure for the CEO has been approved by the board of directors. A detailed press statement should be issued by the company along with the approval of the board of directors because most shareholders agree that in order to retain high performing individual you have to provide and attractive pay structure and if the company is doing well then that pay structure should be justified.

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