Over the coming months, you can expect to see increasing cost pressures and exposure to risk, as well as expanded expectations for your board to exercise effective governance and fiduciary oversight. With heightened public scrutiny of executive pay and benefits, it will require more attention from your board to keep your programs afloat, let alone make sure they stay on course.
Even boards fully familiar with executive compensation issues can feel adrift when it comes to executive benefits. Some leave plan oversight to senior management; other boards provide just a cursory review. But neither approach meets compliance standards for these programs. And both approaches expose your organization to considerable risk, regulatory, financial and reputational.
A fully independent consulting firm, Sullivan, Cotter and Associates, Inc. can provide the objective perspective needed to properly vet executive benefits. Our proprietary industry benchmarks establish a competitive context, while our extensive knowledge of industry practices can identify ways to update and streamline programs, design plans to better support your mission and insulate your organization from risk.
SullivanCotter specializes in protecting the interests of the clients we serve, so they can better focus on the organization's vision. By taking SullivanCotter's strategic approach to executive benefits, your board not only demonstrates good financial stewardship, it also enhances the value of these programs, sharpening your executives' awareness of the factors that drive your organization's success.
With regulatory reform and industry change already under way, good governance, and good business practice, demands taking a fresh look at executive benefits. An objective review provides the compass you need to navigate rough waters and ensure that your organization reaches its desired destination.