Executive Compensation

Overview

The Royal has a comprehensive performance management program in place for all its employees, including the Executive Management Team.  

Each year the Chief Executive Officer, Chief Operating Officer & Chief Financial Officer and Vice-Presidents set targets for performance indicators in addition to individual program objectives that are aligned to The Royal’s Strategic Plan. Each Executive is responsible for meeting these goals.

The Executive team members are evaluated on their ability to meet these objectives and goals.

Compensation

All Executive team members report to the Chief Operating Officer (CEO), who is accountable for determining executive’s total compensation. Compensation for the Executive team is determined based on the Executive member achieving performance indicator targets and individual program objectives. Consistent with government legislation, a percentage of the incentive pay is linked to The Royal’s Quality Improvement Plan.

The CEO reports to The Royal’s Board of Trustees. A Board committee determines the total compensation of the CEO by evaluating their ability to meet objectives on a wide range of performance goals, which are established by the hospital’s Board of Trustees.

All Executive compensation is established and maintained in accordance to the Broader Public Sector Executive Compensation Act.

Below are Components of Executive Compensation. Individual contracts can be found here.

Compensation Component

Explanation

Chief Executive Officer (CEO)

Chief Operating Officer & Chief Financial Officer

Vice-Presidents

Compensation (Salary)

Compensation is determined through performance objectives and is comparable to salaries of peer Ontario Hospitals

$330,000.00

$260,800.00

$169,650.00

$170,600.00

Compensation at Risk

Each year a portion of the Executive salary is considered at risk and measured against agreed to objectives

15%

10%

10%

Car Allowance

An annual allowance is paid to the CEO to offset the costs of business related expenses.

The Chief Operating Officer & Chief Financial Officer and the Vice-Presidents are paid a per diem for business use of personal cars.

$15,000

0.45 cents/km (applicable to all staff) for business use of personal car.

0.45 cents/km (applicable to all staff) for business use of personal car

Benefit Plans

All Executives receive a benefits package that is equivalent to the benefits package applicable to all employees of The Royal.

 

 

 

Pension Plan

All Executives participate in the Hospital of Ontario Pension Plan.