A recent survey conducted by Ziegler revealed the common practices of non-profit senior living providers when it comes to evaluating and determining the pay of C-suite level executives. The survey, which gathered insights from 240 respondents, found that the majority, over 84%, conduct annual reviews of executive pay, with some opting for bi-annual reviews.
Interestingly, more than half of the respondents (58%) reported having a written plan in place to evaluate the compensation of C-suite execs. CEOs were identified as the primary focus of these evaluations, with 67% of respondents indicating they are subject to periodic reviews.
When it comes to the methods used for evaluation, the survey highlighted that utilizing a board of directors was the most popular approach, with 93 mentions from respondents. Other methods included CEOs evaluating their fellow C-suite executives, outside parties, and compensation or governance committees.
Cost was also a factor for those using compensation consultants, with the majority (86%) reporting costs ranging from under $10,000 to $25,000. CliftonLarsonAllen was a commonly mentioned consultant among respondents.
Overall, the survey shed light on the diverse approaches taken by non-profit senior living providers in setting the total cash compensation for their C-suite executives, with responses varying widely across the board.
