EBS on I 501(c) You – The Podcast for NonProfit Board Members
EBS’ Chris Rich was invited to join Michael Corley on his podcast, I 501(c) You – The Podcast for NonProfit Board Members. You don’t want to miss this episode, Using Deferred Compensation to Attract and Retain Your CEO.
The goal of The Corley Company’s podcast is to provide nonprofit board of directors with tools and thoughts about ways to help their non profit organizations. While often reserved for use by for-profit organizations we are now seeing a trend of nonprofit organizations, implementing deferred compensation plans.
The main message in this episode is that deferred compensation can often be another valuable option to attract and retain their key people even when there are certain boundaries or hurdles in relation to nonprofit compensation policy to consider.
In this podcast Chris discusses all things deferred compensation (specifically in the nonprofit space) with Michael. You’ll hear him answer the following questions:
- What is deferred compensation and why would an organization offer it?
- How can a Board of Directors begin to understand what the opportunities are for deferred comp?
- What are different approaches to deferred compensation?
- How do you determine key employees that should participate in deferred compensation?
- Is any organization too big or too small for deferred compensation?
- Any specific time in an organization’s trajectory they should implement deferred comp?
Why is it important to pay attention to this trend?
Take it from Chris Rich, “In the past 25-30 years of doing this, I don’t think we have ever seen a time when the need to attract and retain key employees was greater, and this is particularly true in nonprofit organizations.”