Posted March 1, 2018 for public consultation
The Broader Public Sector Executive Compensation Act, 2014 (BPSECA) was proclaimed into force in March 2015. The purpose of this legislation is to manage executive compensation in the Broader Public Sector (BPS) by authorizing the government to establish compensation frameworks applicable to designated employers (including universities) and their designated executives. According to government, the development of the framework was guided by the principles of standardization, balance, and transparency. These principles aim to ensure there is a consistent and evidence-based approach to setting compensation levels for BPS executives, that there is a balance between managing compensation costs while allowing employers to attract and retain the necessary talent, and that there is transparency in how executive compensation decisions are made through public consultation and posting.
Following consultation with multiple stakeholders in the BPS, in 2016 the Province introduced Ontario Regulation 304/16 in support of the BPSECA, effective Sept. 6, 2016. The Province updated its approach through amendments to the Regulation and the issuance of the BPS Executive Compensation Program Directive on June 9, 2017. The Regulation and Directive set out the details and implementation timelines for executive compensation programs for all employers within the BPS.
Wilfrid Laurier University has developed a Draft Executive Compensation Program, which has been approved as compliant by both the Ministry of Advanced Education and Skills development (MAESD) and Treasury Board Secretariat (TBS), and has been approved by the university’s Board of Governors through the Human Resources Compensation subcommittee. The program outlines the compensation framework for the designated executives at the university, specifically the president and vice-chancellor, as well as the six vice-presidents. As per the provincial legislation, the university is now inviting the public to provide comment and feedback on the draft program. Comments and feedback will be reviewed and considered in finalizing the program. Feedback will be reviewed confidentially by Human Resources, and will be summarized for the purpose of finalizing the program.