Executive Compensation Framework
The IESO is seeking feedback on a draft executive compensation framework. In September 2016, the Government of Ontario introduced a new Executive Compensation Framework with the introduction of Regulation 304/16: Executive Compensation Framework. Under the Broader Public Service Executive Compensation Act, 2014, all designated employers must have and post executive compensation programs for executives.
The draft framework reflects the IESO’s compensation philosophy, which is built with four key objectives:
- To focus employees on meeting the IESO’s business objectives
- To attract and retain qualified employees needed to carry out the IESO’s mandate
- To have compensation levels which are reasonable, responsible and in compliance with provincial regulations
- To provide generally comparable levels of compensation for jobs that provide generally similar levels of contribution to the organization
In this engagement, the draft executive compensation framework will be posted for 30 days. All feedback is welcome on the framework and can be sent to firstname.lastname@example.org.