June 28, 2019
HR Policy President and Center On Executive Compensation CEO Tim Bartl appeared on Diligent Insights' Inside America’s Boardrooms to discuss the Center’s CHRO Guide to Compensation Committee Chair and Director Onboarding in the first of a two-part series exploring the Guide and featuring Laurie Siegel, a Compensation Committee Chair and former HR Policy Director who was interviewed for the report.
Formal onboarding process preferred: Bartl stated that even though compensation committee chairs, CHROs, and total rewards heads revealed that company onboarding processes vary greatly, compensation committee chairs prefer a formal, planned onboarding process featuring a combination of targeted pre-reads and one-on-one sessions with the C-Suite team and Board's external consultant.
Onboarding is important because "compensation can help drive the strategy the company wants to achieve. Being able to understand and appreciate that nexus is so important” for new chairs, Bartl noted.
“You really want [a compensation committee chair] who’s going to be a thinking partner with the CHRO and their team who can create constructive disagreement to effectuate the best arrangement for the company,” he continued.
Part two to feature comp committee chair perspective: Part two of the series, to be released July 3, will feature Laurie Siegel, who currently serves as the Compensation Committee Chair of CenturyLink, FactSet, and California Resources Corporation. Siegel will discuss her perspective on effective compensation committee onboarding and how the Guide can help companies in supplementing their existing approaches.