Forward looking private companies know the value in establishing an advisory board—especially in today’s climate. Not only does a board add a layer of legitimacy to your operations, it can also help spur, shape, and manage your company’s growth with specialized expertise from outside your organization.
We’ve previously discussed how to develop an advisory board, and the key takeaway was that boards should be viewed as a calculated investment—ensuring your company secures maximum value when it comes things like strategic acquisitions, landing key talent, and supporting business development initiatives. We also looked at the value of keeping your board engaged by integrating them into the ethos and culture of your organization.
However, when it comes to compensating your board—are you on the right path or lost in the woods?
Determining the right compensation strategy is never easy, but proper planning is key to an invested and motivated board. A board that will be more than anxious to participate, open up doors to new opportunities, and help guide your company through prosperity and hardship.
In their latest survey, Compensation Governance Partners explores the ins and outs of director compensation—providing organizations with visibility into Canadian market practices.
Find out how to benchmark director compensation and solidify your strategy: Canadian Director Compensation: Privately Held vs. Publicly Traded