Description: Examining the issues and challenges of contemporary higher education
InsideHigherEd recently published a piece addressing severance packages offered to presidents by the institution’s governing boards. In “ Paid for Being Fired ,” Kellie Woodhouse states:
“Severance packages are an oft-overlooked component of the increasingly sophisticated and complicated college executive compensation package. Yet as more and more governing boards seek to mirror the corporate world as they craft compensation agreements, severance packages may be on the rise at colleges and universities.
‘Severances are elements of retention packages that are very common in the corporate sector, so people on [governing] boards are very familiar with them,’ said Lucy A. Leske, managing partner of education practice at the executive search firm Witt/Kieffer. ‘Boards are becoming more professional in their approach, in how they recruit and obtain candidates. Severance is one of those key elements.”