CEOs: Don’t shy from compensation conversations
Engage the board about current data and trends, and your preferred outcomes.
Credit union CEOs must overcome their reluctance to talk with their boards about compensation philosophy—not just for their own benefit, but for the good of the organization.
It’s hard for many CEOs to be advocates for themselves, says Tom Telford, principal/area senior vice president for BFB Gallagher. “It’s just not in your nature to do that.”
The main impediment sounds something like this, says Scott Albraccio, executive benefits sales manager for CUNA Mutual Group: “How do I talk about compensation without sounding greedy or self-serving?”
The duo provided some pathways to solve that quandary during a presentation at the CUNA CEO Council Conference.
First, they presented some common hurdles to healthy communication about executive compensation, with some assistance from the 70 CEOs in attendance at the inaugural event:
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