"The job of the board is not to get an A+ from ISS," said Turner. "[It's] to make sure that the executive compensation program is effective in incenting and motivating the executive team to provide the best performance possible for shareholders."

There's been a visible increase in companies continuing to expand the scope of their clawback policies this proxy season, Matt Turner, president of executive compensation at compensation and leadership consultant Pearl Meyer, told Agenda.

“We always have companies struggle with the question: ‘Is it worth it to be public?’” Managing Director Deb Lifshey said.

"The best-governed boards have a succession plan in place so that they can crack open that playbook in the event of unplanned turnover and not be caught off guard," said Jan Koors, senior managing director and head of consulting services at Pearl Meyer.

"From a governance perspective, outside the bare minimum, [perks] are generally frowned upon," said Ryan Hourihan, managing director with Pearl Meyer.

"If you're not developing leaders against a spec of what you need in future, then you're really behind the curve," said Peter Thies.

“Given the scrutiny, risk, and liability associated with being a director, increases have been slower than some might expect,” said Ryan Hourihan.

“Total rewards professionals also need to determine exactly what is being posted for open positions—whether it’s the entire pay range or the minimum to pay range midpoint,” said Jim Hudner, a managing director at Pearl Meyer.

“It’s important for boards to understand how they compare to market practice to ensure their programs are competitive and capable of attracting the caliber of director expected by shareholders,” said Ryan Hourihan.

"Job titles are a way to do many things — attract employees, retain them, and provide job satisfaction,” said Rebecca Toman, vice president.