The board’s executive compensation committee is the focus point for many of the extraordinary financial, economic and operating challenges currently facing healthcare organizations. Executive compensation increases are impacted by both an inflationary economy and significant revenue downturn. In addition, the Department of Justice has identified executive compensation as an important conduit through by which corporate compliance incentives and deterrence can be implemented. Furthermore, executive recruitment and retention amidst the “Great Resignation” remains a key compensation concern.
These and similar issues have become important agenda items for the board’s executive compensation Committee. Michael Peregrine is joined by industry experts Tim Cotter and Ralph DeJong for the first in a two-part conversation about the impact of the developments on the compensation committee, including:
- Key topics for briefing the board’s compensation committee.
- Increasing communication between the compensation committee and the C-Suite.
- Addressing pressures felt by executive committee members.
- Insights from the Sullivan Cotter compensation data survey.
- Projections for the impact of inflation on next year’s salary increases.
- Expectations for future CEO salary increases and organization departures.
- The segmenting approach to leadership plans.
- Coordination with the Audit & Compliance Committee on compensation incentives