Many Boards are now considering offering remuneration to their Directors. Governance best practice dictates that Directors should not be paid for just turning up to Board meetings, they should be rewarded for adding value to the governance of the organisation. Thus, it is important that any remuneration be linked to a Director’s performance.
To assist Boards in deciding what the appropriate remuneration for a Director is, and how their performance should be measured, Enterprise Care has developed the Director Remuneration: Reward Assessment Tool.
This tool offers a practical guide and template in measuring performance and setting remuneration levels. It includes key criteria for assessment, as well as an example of how to apply the criteria to your organisation to determine your Director’s remuneration.