Canada is suffering a brain drain of high-potential individuals in many fields and functions, extending to the boardroom, particularly to the U.S. market.
Document Highlights
There is intense competition for directors and CEOs among the largest companies, especially those with international scope. Yet, despite a considerable compensation gap with the United States, Canada’s private sector does not pay its directors and CEOs significantly less than the rest of the industrialized world.
Compensation is not an end, but a means toward an end. The end is success, for individuals, teams and ultimately the enterprise itself. A corporation needs to finely balance financial compensation with other factors. These include broader authority levels, empowerment, independence, reappointment, promotion, personal development and contribution. These factors are often of critical importance in attracting the highest quality leaders to corporate boardrooms—and keeping them there.
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