Global Governance Advisors (GGA) and the Governance Professionals of Canada (GPC) are pleased to reveal the results, for the sixth year in a row, of their annual governance professionals compensation and responsibilities survey, as announced at GPC’s 21st Annual Corporate Governance Conference in Quebec City.
“These annual compensation survey reports are an important resource for our members to benchmark their practice and to address year-over-year changes, as it relates to compensation and responsibilities for governance executives across organizations,” said Lynn Beauregard President of the Governance Professionals of Canada.
This year’s study continued to demonstrate the evolving nature of the governance professional’s role, with the results showing a significant increase in the use of technology to prepare for board meetings and conduct board surveys as over 70% of participants reported the use of board portals and other technology for these aspects of their role.
Key findings of the survey include:
- The majority of governance professionals (70%+) report directly to the CEO or other member of management.
- Only one-third of governance professionals do not have direct reports (down from 48% last year).
- Managing insider filings or insider trading programs has become an increasing responsibility in the past year.
- The majority of governance professionals (58%) are eligible to receive a Short-Term Incentive while only 23% report being eligible for a Long-Term Incentive.
“When we address why corporate governance professionals would consider making a career change, the three characteristics we hear most are Greater Compensation, Work-Life Balance and the Ability to Receive a Promotion,” said Paul Gryglewicz, Senior Partner at Global Governance Advisors.
The study included results from members of GPC amongst Publicly Traded, Privately-Held, Not-for-Profit, Crown Corporations, Cooperatives, Credit Unions and other government organizations, examining compensation in the form of Base Salary, Short-Term Incentive, Long-Term Incentive, and Total Direct Compensation.