What is the Performance Management Program for executives?
• To encourage excellent performance by setting clear objectives and rigorously evaluating the achievement of results • To recognize and reward performance • To provide a framework within which a consistent and equitable approach to performance management can be applied Compensation is a central component of effective human resources management for recruiting, retaining, motivating and renewing the workforce required to deliver results to Canadians. Executive compensation • Base salary • Performance pay • At-risk pay • Bonus pay • Economic increase • In-range salary movement The Performance Management Program reports on the number of executives in each department who have earned performance pay for the year. 21. What is the difference between at-risk pay and bonus pay? Executives receive a salary for performing their ongoing responsibilities. Part of their base salary includes variable pay that has to be re-earned every year based on their performance: what they achieved and how they a
