This week, we tackle the subject of executive retention planning. More specifically, the importance of performance plans, compensation, and bonus structure. High performers want to know how to improve, and they want compensation tied to performance. A problem comes when boards do not clearly define the CEO/ED's bonus structure or compensation plan. It is the board’s role to ensure proper compensation strategy. To do this, they must also complete executive performance assessments.
Timestamps:
00:00 Retention planning
01:50 The importance of performance plans
03:55 Compensation and bonus structure
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