Premier Wynne on executive compensation.
The changes we made to the executive compensation framework were transparent and involved extensive public consultation and posting. While the vast majority of postings were proposed salary ranges, it is clear the high end of those proposed ranges is just too high. As we move forward with these changes, agencies must strike the right balance. They need to keep and attract great talent, with the right expertise, while ensuring that salaries are fair and appropriate.
Although the vast majority of public postings have been potential salary ranges thus far, it is very clear that in some cases the upper end of the ranges are unreasonably high, and could potentially lead to unacceptable salary increases.
I believe that what we’re seeing is that some sectors have not found that balance on the first pass. For example, after reviewing the draft compensation program for college executives, we made it clear that their plan was unacceptable and directed them to review and make changes.
Today, I asked the President of the Treasury Board to send out a memorandum to all employers designated under the Act, which will lay out our expectations during this process.
In cases where employers fail to comply, we would refuse salary increases.
Ontarians have the right to know how their dollars are being spent and they deserve a clear rationale as to why executives are paid what they are paid. Every dollar counts and it’s important that all of our partners do their part.”