For most companies 2011 was the first year for say-on-pay. The good news is that most emerged from the process unscathed. Only a relative handful (38 of the Russell 3000, including eight in the S&P 500) failed to receive majority support as of October, and those companies are part of a small number (157 and 42, respectively) that received less than 70% of the votes cast.

Shareholders also displayed a strong preference for annual votes, which means that year two is almost upon us. Companies with failed or close votes in 2011 know that they will face heightened scrutiny, particularly as to whether changes were made in response to the vote. But all public companies should consider the lessons learned from year one and make say-on-pay assessment part of their regular annual planning process.

Here are some suggestions to keep in mind.

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