Corporate directors are tired of discussing the issue of executive compensation. In a recent survey conducted by consulting firm BDO USA in August, 71 percent of participants say they do not want to spend more time on executive compensation.

The survey, which polled 101 board members from public companies with revenue ranging from $250 million to $750 million, asked directors to choose from a  list of topics what they would rather devote more time to. According to the survey, no other topics received such a negative response as the executive compensation issue.

More than three-quarters of those polled said they don't believe the say-on-pay rule will help them better manage compensation for key executives' issues.That figure jumped to 91 percent for those directors who also sit on the compensation committee. Just 22 percent of the survey respondents said they found the say-on-pay rule helpful.

Randy Ramirez, senior director of compensation in the firm's corporate governance practice, says the findings are consistent with BDO's client complaints over the inefficiency of the executive compensation mandates.

“Compensation planning is now examined under a microscope on an annual basis, when businesses would benefit from a long-term approach,” he says. According to Ramirez, pay practices advocated by proxy advisory groups tend to emphasize immediate pay-for-performance tie-ins without taking into account that some performance measures cannot be realized on an annual basis. These measures include executing smart investments and  strategic shifts, among others.

Not surprisingly, 81 percent of board members said shareholder criticism of executive compensation is based on a short-term approach where the shareholder demands to see returns within a short period of time.

The survey also found that directors do not think the non-binding nature of the say-on-pay votes diminish its effectiveness at all. More than three-quarters of respondents said the rule is just as effective given the non-binding nature. For directors who are also serving on the audit board, In addition, 85 percent of directors who also serve on the audit board said the effectiveness remains intact, while 79 percent of directors who sit on the compensation committee concurred.

Regarding the change-of-control provision, more than three-quarters of survey respondents said the provision has no impact on merger activity. An overwhelming 91 percent of directors who also sit on the compensation committee agreed that there should be no impact in change-of-control.

When asked about how board members feel about their own compensation, 69 percent said they thought they were well compensated based on their responsibilities. The remainder said they are underpaid, given the additional workload caused by recent regulatory changes. Meanwhile, 39 percent of directors who also sit on the compensation committee said they could use a pay raise.