Executive Compensation Plan Posted for Feedback

The Board of Directors is required to ensure that the compensation program for its executive management is current, competitive, in line with current legislation, and appropriate to attract and retain the senior talent necessary to lead the organization.

Muskoka Algonquin Healthcare (MAHC) continues to support and encourage a fair and balanced approach to all public sector compensation. Since 2010, executive compensation has been frozen in the broader public sector of Ontario. In 2016, new legislation provided a framework for determining executive compensation and a process that through peer comparators ensures changes to executive compensation are equitable and not arbitrary.

The regulation requires public sector organizations (including hospitals, school boards, colleges and universities) to identify no fewer than eight comparator organizations and comparable positions when evaluating executive compensation. MAHC’s proposed executive compensation plan includes limitations on executive salary and performance-related pay, which is capped at no more than the 50th percentile of appropriate comparators.

In keeping with MAHC’s ongoing commitment to transparency and accountability, MAHC is reaching out to stakeholders for constructive, meaningful feedback. The draft executive compensation plan is posted on the MAHC website for a 30-day public consultation period.

Feedback on the draft will be accepted until 4 p.m. on February 22, 2018 and will be reviewed by the Board of Directors and the Minister of Health and Long-Term Care to ensure MAHC’s executive compensation plan is appropriate, reasonable and accountable. Once the plan is approved by the MAHC Board and the Minister of Health and Long-Term Care, it will be posted on the MAHC website and implemented.