Benchmarking Analysis: • Conduct a comprehensive benchmarking study comparing the compensation and benefits packages of the CEOs with those at comparable institutions, including both public and private universities as well as similar roles in the public sector. • Identify relevant market trends and best practices in executive compensation and benefits within the higher education sector. 1.1.2. Compensation Structure Review: • Evaluate the current compensation structures, encompassing base salary, performance bonuses, incentives, and deferred compensation. • Assess the alignment of compensation with the Board’s strategic objectives and institutional mission. 1.1.3. Benefits Package Review: • Review all components of the benefits packages, including health insurance, retirement plans, leave policies, professional development allowances, and additional perquisites. • Evaluate the competitiveness and overall effectiveness of the current benefits offerings. 1.1.4. Equity and Compliance Assessment: • Ensure that compensation and benefits packages are equitable and compliant with all relevant federal and state regulations. • Identify any internal equity issues within the current compensation and benefits framework. 1.1.5. Stakeholder Engagement: • Engage with key stakeholders, including Board Members, board office designated staff, and key University individuals to gather input and feedback. • Present findings and recommendations to the Board’s Governance Committee.
