Specifically, SullivanCotter said executive benefits programs are key to retaining a strong leadership team to get out of any financial crisis. Here are five action steps recommended in the whitepaper for hospitals that are reviewing their executive benefits programs.
1. Revisit your executive benefits philosophy as part of your executive compensation philosophy.
2. Ensure your benefits consultant is independent.
3. Review executive benefit programs and severance arrangements in light of current, pending and potential legislation to assess the organization’s and individual executive’s compliance risk.
4. Conduct an independent, objective review of your executive benefits program.
5. Ensure results are understood in the context of total compensation.
To read the complete whitepaper, click here (pdf).
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