Compensation Committee Priorities for 2024: Navigating the Latest Compensation Trends
Overview
Compensation committees (CCs) face a critical and urgent challenge: designing competitive compensation strategies in a world where the economy is unpredictable, leader accountability is expected to go beyond the bottom line, and sought-after talent is scarce. Looking ahead, CCs must rise to the challenge of attracting and retaining talent while effectively managing costs. To achieve this, it is imperative for CCs to embrace the power of incentive-based compensation, align it with strategic goals, and foster a culture of meritocracy within their organizations. By taking proactive steps and staying laser focused on ever-shifting trends, CCs can position their organizations competitively in the talent market and drive sustainable success in the future.