Draft Executive Compensation Program for Consultation
Posted December 16, 2016 to January 14, 2017
To the greater Cambrian College community, including all internal and external stakeholders:
In order to establish consistency and transparency across the public sector, the Government of Ontario has introduced a new framework for determining executive compensation at colleges, universities, hospitals, agencies, and other parts of the broader public sector. As part of this process, we, and other colleges across Ontario are reaching out to the College community and the public to solicit comments and views on the draft Executive Compensation Program that has been developed.
In presenting this Program to the community, the Board of Governors at Cambrian College is cognizant of the need to attract and retain the very best leaders possible – leaders who can deliver high-quality public services on behalf of the College and, at the same time, manage responsibly.
At each of the 24 colleges across Ontario, the Senior Leadership Team is responsible for managing the complex and diverse affairs of their respective colleges and for providing the leadership required to achieve their college’s strategic objectives, with a focus on developing a new generation of leaders and innovators who will contribute to an inclusive, prosperous and globally-competitive Ontario.
Our College has a vibrant community of nearly 7,000 learners, with over 4,200 full-time students in 80 full-time programs across three campus locations in northern Ontario: Sudbury, Espanola, and Little Current. Our Senior Leadership Team is accountable for a budget of $80 million that is used to provide students with the necessary education for the jobs of today and tomorrow. Therefore, it is important that our Executive Compensation Program is appropriate, accountable and effective.
The draft Program sets out five important components of the Executive Compensation Program that are discussed in detail below:
- Positions Affected by the Executive Compensation Program
- Compensation Philosophy
- Maximum Salary and At-Risk Pay
- Elements of Executive Compensation Not Provided to Non-Executives
Each of these components is vital to the creation of an appropriate Executive Compensation Program at our College.
Once you have had a chance to review the information and its links to additional material, please provide your comments below. We will welcome comments up until January 14, 2017. Your thoughtful and constructive input will help us develop the best and most appropriate Executive Compensation Program for our College.
Please know that all comments will remain anonymous, but that all comments will be kept on file for two years at the request of the Government of Ontario.
Thank you again for your interest and contribution.
Chair of the Board of Governors