Focused Strategies to Ensure Value, Limit Exposure to Risk
Combine the realities of reform with the requirements for sound board governance, and it’s clear that most health care and not-for-profit organizations are entering new territory. With heightened public scrutiny of executive pay and benefits, more attention is required from your board to keep your programs on track with proper oversight.
Start with Independent, Objective Analysis
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. Either approach must meet compliance standards for these programs. And both approaches can expose your organization to considerable risk: regulatory, financial and reputational.
A fully independent consulting firm, SullivanCotter 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.
SullivanCotter helps your organization ensure the following:
- Executive pay and benefits levels meet prevailing standards for reasonableness.
- Executive benefits policies are both clearly articulated and thoroughly documented as components of a defensible total compensation philosophy.
- Benefits delivery channels are efficient, and the associated costs are reasonable and appropriate.
- Board decisions on executive benefits are made objectively, with robust documentation of deliberations, decision factors and rationale for program determinations.