Why is length of service
relevant for the C Suite? It’s irrelevant for the rank and file, yet we baby these executives and boards.
We’re not even pretending to care about “fiduciary duty” anymore.
We’re not even pretending to care about “fiduciary duty” anymore.
The question is also, would he quit if they cut his compensation in half? If not, it's free money for the business. The companies nickle and dime every one of its business relations, why shouldn't they do it to the CEO? He's one of the bigger expense lines.
It’s absolutely not. It is used for all sorts of things, including PTO accrual, bonuses, multi-year tenure benefits, etc.
That being said, I've never heard of a place that _literally_ ties PTO to tenure -- if you join the company in a senior position, you can always negotiate to start with a similar amount of PTO as someone who worked their way into that position internally.
You can usually also roll them over to the next year up to some amount.
It is not. Most places I have worked, longer term employees are given recognition, extra bonus, more vacation days and so on.