Study about the remuneration of non-executive board members in Belgian non-listed companies

Work has value! That is why the codes for good governance advise organisations to compensate non-executive board members. It is not a "one-size" fits all for organisations to determine the right remuneration. This is more the case for non-listed organisations who, in contract to listed companies, do not have any requirements concerning the publication of board member remuneration.

Starting from our mission to offer qualitative governance tools for our members, GUBERNA regularly researched the remuneration of non-executive board members. Recently, GUBERNA carried out a study where the remuneration practices of board members in non-listed companies was analysed. This study is the result of a large online survey that collected the remuneration data of board members from 170 organisations. The remuneration policy and the amount and the perception of the board members have about this remuneration policy are discussed. Since the size of the organisation is an important point in the analysis of board member remuneration, this report is made up of 4 chapters, and in every chapter, in agreement with the European definition of the SME, is focused on one type of organisation such as "micro-organisations", "small organisations", "medium-sized organisations" and "large organisations".