Boards should assess the impact of change on their organization’s executive compensation program and committee practices.
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Webinar Leadership and Board Continuity: The Keys to Lasting Organizational Performance
By tracking outcomes, the committee can ensure that the program operates consistently with the established philosophy and that areas requiring attention are readily identified. When combined with comprehensive tally sheets and affirmation that all executive compensation arrangements are fully disclosed to the committee, there is a comprehensive baseline underlying the committee’s deliberations.
As health care organizations face a number of emerging challenges, the compensation committee of the not-for- profit hospital and health system board is well served to review and update the executive compensation program periodically.
As hospitals and health systems realign their strategic objectives, executive compensation programs must evolve to support the organization's mission. Your board's compensation committee should determine if corresponding actions or updates are necessary.
This webinar examines the best practices of CEO succession planning in a health care setting. Bill Westwood, Senior Client Partner, Korn Ferry presents a thorough description of the process to follow to ensure that succession planning is smooth, efficient and objective. He offers specific recommendations for the roles that each party plays in the process, and what risks should be avoided. Board members, incumbent CEO's and potential CEO's will learn how to prepare for and execute succession planning in their organizations.
To prepare for leadership succession, boards must identify talented leaders within the organization, take steps to retain them and develop them well for future roles.
The following is intended to be an example that boards should adapt to meet their individual needs.
The following is intended to be an example that boards may adapt to meet their individual chief executive officer (CEO) evaluation needs.
Health care CEOs may need a little help. How about hiring a chief of staff?
The uncertainty and complexity of today’s rapidly transforming health care environment requires dynamic CEO leadership more than ever. A sound and steady relationship between the board and CEO helps support the CEO during this turbulent time and, in turn, a close and productive partnership between the board and CEO helps ensure the board’s vision and strategic direction are carried out.
CEO goal-setting and evaluation is a fundamental responsibility of a governing board. These questions are designed to help boards assess their CEO evaluation process and determine if any improvements are necessary.
Expert guidance to help leaders set priorities, make the right decisions and improve results...
Boards can play a key role in guiding, supporting young health system leaders
Boards and CEOs must constructively address the succession imperative. Succession planning for the CEO and other senior leadership positions is critical to organizational continuity and stability, especially in a transforming healthcare field.
By Steven T. Sullivan As health care transforms, boards are tying executive compensation to long-term performance Many hospital and health system boards and their leadership teams are at an interesting juncture where each is heavily reliant on the other for strategic support and execution. They have a shared goal of successfully moving their organizations forward at a time when the field is in an overwhelming state of transition.
Succession planning is a high-stakes governance responsibility. The significant costs of protracted CEO searches and failed replacements are well-documented. Yet, data from the for-profit and nonprofit sectors continue to show that many boards aren’t focusing enough attention on succession planning or on getting it right.
This monograph offers guidance on proactively considering best practices in executive pay, including the changing role of incentive compensation, good governance practices to mitigate risk and choosing appropriate peer comparison data to support the compensation decision-making process.
In the new era of health care, hospital boards must consider a different kind of leadership style
Incentive compensation plans are intended to focus executives’ attention on their organizations’ most vital priorities and initiatives. As health care organizations revise their business strategies to address the ongoing transformation of care delivery and payment, health care boards also need to reassess the structure and measures of performance in their executive incentive compensation plans.