Educate Your Board
Board members play a pivotal part in the cooperative structure. Having a solid understanding of HR basics will equip your Board to make good decisions.
CEO or General Manager Compensation
Help Board members understand compensation strategy and components of the total compensation package for a CEO or General Manager. The interactive training typically includes:
Employee Retention Strategies
This session provides a deep dive into information on the various methods a Board can use to encourage employee retention. Topics covered typically include:
-
Overview of current employment practices and benefits already in place
-
Potential retention methods available, some of which can be implemented with minimal cost
-
Insights on retention plan designs, best practices, and market trends
CEO Performance Management
Educate Board members on effectively managing CEO performance to ensure alignment between organizational goals and CEO performance. Topics include:
- Setting Effective Goals
- Evaluating Performance
-
Giving Feedback
Board of Directors Assessment
Board members receive valuable insight into how they fulfill Board member duties through an interactive assessment process. Foundations Consulting listens to your needs and designs an assessment based on your cooperative and Director best practices. With self-assessments, peer feedback, and consultative feedback sessions, Directors are provided with insights to develop and strengthen their leadership of your cooperative.
In Practice
The Board of a small cooperative had historically provided their CEO with a subjective bonus at the end of each year. The Board struggled to come up with the right amount for the bonus each year and worried that the bonus amount would be questioned by stakeholders.
Services Provided. We provided education to the Board on best practices related to CEO compensation and performance management. This included information on:
-
Determining the base salary and components of an effective variable pay plan
-
Setting clear, meaningful goals and
-
Evaluating CEO performance against those goals
Results. The Board developed an annual incentive plan for the CEO which clearly tied variable pay to performance. The new plan provided structure for defining and measuring CEO performance and aligned CEO performance and compensation. The Board gained confidence in its ability to effectively set goals and measure and reward CEO performance.