For what it's worth, I almost always experience the opposite problem.
PC Initiative far outstrips monster initiative. PCs can roll twice (or more) for initiative, get feat, item, and power bonuses to initiative. When I'm writing an adventure that has an initiative range for monsters of +17 to +25, say, and a party shows up where the lowest initiative the entire adventure is 43... that's fishy. (Combat Commander is a tad broken).
PCs can apply Dex, Wis, and/or Cha (more rarely) to initiative. Some PCs roll Perception for Initiative, or more rarely History.