Even though most U.S. public companies received strong shareholder support for their executive compensation programs during the most recent proxy season, nearly half of the respondents to a new survey by professional services company Towers Watson say they will revisit their approach to linking pay and performance ahead of the 2013 proxy season.

Despite that claimed focus, however, and even though the majority of companies said they pay executives based on performance, 40 percent have not actually conducted a pay-for-performance analysis to demonstrate support that claim.