Witt/Kieffer Releases Results of the 2014/2015 Severance Survey
Witt/Kieffer and Mercer present the results of the 2014/2015 Severance Survey for Presidents of Non-Profit Colleges and Universities. The report summarizes severance benefit practices for Presidents of 63 colleges and universities across the United States.
In recent years, competition has increased for Presidential candidates. Executive compensation and contract terms have become complex in response. While competition has increased there has been a lot of discussion surrounding cash compensation and little on severance.
Mercer and Witt/ Kieffer find of those surveyed, approximately 60% of respondents have a severance agreement with the President, with provisions outlined within the President’s employment contract. Of those with such agreements, 40% reported that severance benefits upon termination are determined through negotiation rather than set guidelines.
The full report is published on Witt/Kieffer’s Thought Leadership. Read the full report.