OCAD University Draft Executive Compensation Program
To the OCAD University community:
The Government of Ontario’s Broader Public Sector Executive Compensation Act (BPSECA), introduced in 2014, requires designated public sector employers, including universities, to develop Executive Compensation Programs to ensure a responsible, transparent and consistent approach to managing executive salaries.
The program must follow compensation requirements and limits set by the province, including a cap on salaries and performance-related pay based on comparable public sector positions.
OCAD University is committed to compensating its executives in a fair manner in line with other post-secondary institutions of similar size. The university has conducted extensive research to ensure this Executive Compensation Program will recruit and retain strong leadership that will advance the university’s vision and mission.
The intent of the act is to improve accountability and transparency across the broader public sector, including colleges, universities, hospitals and school boards.
The act requires us to post the proposed program for feedback for at least 30 days.
I encourage you to take a moment to review OCAD University’s draft Executive Compensation Program and submit your comments to Nicky Davis, Director, Human Resources via email to firstname.lastname@example.org by June 7, 2018. A summary of the feedback will be included in the final program.
A copy of the final program, approved by the Ontario government, will be published on the OCAD University website on the Board of Governors webpage.
Chair, Board of Governors