A staggering rate of increase has occurred for C-suite executives updating their LinkedIn profiles.
Well, it is no secret that executive search firms leverage LinkedIn as one of their primary sources. Some may have done it because they’ve changed roles or employer.
But, why the sudden surge in updates? Is this a sign of the first wave of post-pandemic executive fatigue?
If this doesn’t set off significant alarm bells in the boardroom, someone is not paying attention.
Boards should take note and check to ensure the effectiveness of their total rewards and other recognition for their leadership team.
Does the team feel recognized and appreciated by the board?
How has the C-suite been treated throughout the pandemic?
Does the current compensation structure provide enough reward when merited by performance?
Are metrics reasonable or too aggressive?
Is there enough retention value in your Long-Term Incentives?
Board’s need to take stock of their rewards and the possible risk of key C-suite departures. As importantly, they need to pay close attention to the strength of their succession plan.
The first in line may be at the highest risk of departure. This follows a trend where recent study by Monster.com showed that more than 95% of employees in the US are considering a job change post pandemic.
The C-suite is apparently not immune from that sentiment – Boards ignore at your own risk!
Similar alert for CEOs!
When was the last time you gave unsolicited feedback?
When was the last time you told one your direct reports they did a great job on something?
How realistic is your succession plan? How strong is the retention component of your executive compensation program?
Should you engage your board with some recommendations for updates/modifications to your compensation structures?
Now is the time to act, by year end your best leaders may have already taken the call.