7 minutes
A guide for credit union boards
In today’s competitive landscape, credit union boards frequently face a pivotal question: What is the ideal SERP (Supplemental Executive Retirement Plan) level for their CEO? This critical decision is motivated by the primary goal of retaining exceptional talent, specifically the CEO, to ensure the organization's stability and continual growth.
Prioritizing a comprehensive analysis of factors contributing to CEO retention has become paramount for credit unions striving to strike the perfect equilibrium between compensation, benefits, and the long-term commitment of their top executives. Achieving this balance is crucial for attracting top-notch talent while remaining competitive with industry peers.
When evaluating the optimal SERP level for a CEO, several key considerations come into play. This whitepaper dives into the crucial decisions to address during the determination process. It is a multifaceted undertaking that demands a thorough evaluation of industry benchmarks, individual CEO preferences, strategic objectives, and comprehensive benefits packages. By approaching these factors thoughtfully and transparently, credit union boards can position themselves to attract and retain top talent, thereby ensuring the institution's long-term success and stability.
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