December 20, 2016
To the Sault College community:
The Government of Ontario has introduced a new framework for determining executive compensation in colleges, universities, hospitals, agencies, and other parts of the broader public sector. As part of that process, Sault College and other colleges across Ontario, are reaching out to the college community and the public to receive comments and views. On behalf of the Board, I appreciate you taking the time to review and comment on this draft Executive Compensation Program.
The Board has developed this draft with consideration to balance fiscal responsibility with the need to attract and retain leaders able to deliver high quality public services. Each of the 24 colleges across Ontario relies on the Senior Leadership Teams responsible for managing complex, shifting and diverse affairs. The individuals on our team provide the leadership required to achieve the college’s strategic objectives, which are directly linked to the development of a new generation of leaders and innovators who will contribute to an inclusive, prosperous and globally competitive Ontario.
Sault College’s Senior Leadership Team is accountable for a budget of over $56 million dollars across twelve sites, delivering programs in over seventy areas of study. Each year over 3,000 full-time and part-time students choose Sault College to help them gain the skills and credentials necessary to be successful not only today but also in tomorrow’s labour force. For these reasons, it is imperative that an executive compensation program is appropriate, accountable and effective.
The draft sets out five important components of the Executive Compensation Program that are discussed at length in the attached document:
1. Positions Affected by the Executive Compensation Program
2. Compensation Philosophy
4. Maximum Salary and At-Risk Pay
5. Elements of Executive Compensation Not Provided to Non-Executives
Each of these components is important to build the most appropriate Executive Compensation Program for Sault College.
Once you have reviewed the document and other related material, we would welcome your feedback in the comment box provided. (Read FAQs here.) You may wish to add your name to your comments or submit anonymously, however neither will be released publicly. Please note that all comments will be kept on record for two years at the request of the Government of Ontario.
The deadline to submit comments is January 19, 2017. Your thoughtful and constructive input will help us develop the best and most appropriate program for our college.
Thank you again for your interest and contribution.
Chair of the Board of Governors