We helped our client by benchmarking peer charters and interviewing all their committee members to develop a clear picture of the playing field. We then developed a grid to facilitate conversations with the board about oversight responsibilities of the whole board vs. each board committee, as well as decision rights. This grid was composed of an extensive list of HCM topics including diversity, equity, & inclusion, ESG in incentives, pay equity, succession and talent planning, and leadership development.
This exercise in understanding and clarifying responsibilities ultimately ensured that each topic receives adequate attention from the board. Now, each compensation committee meeting has an HCM theme with corresponding agenda items. Every year, the compensation and sustainability committees have a joint meeting to touch base on all overlapping issues and objectives.
