Compensation aligned to corporate performance goals

Overall, executive performance is evaluated on the following dimensions:

  • Financial metrics
  • Operational metrics (quantifiable non-financial metrics including quality of care, innovation and employee satisfaction)
  • Strategic leadership (achieving strategic objectives)
  • Leadership competencies and styles (teamwork, communication, 360 degree)
  • Board relationships

The objectives of Baycrest’s pay for performance system are to:

  • Effectively communicate corporate priorities
  • Align individual and organizational objectives
  • Reward individual results
  • Reward cooperation and team results at the executive level
  • Provide an opportunity for market competitive compensation

Each Executive sets their annual goals using the following structure:

CATEGORY #1 CATEGORY #2

Team quality improvement goals

Accounts for 40 percent of total
At Risk Performance Compensation

Individual goals

Accounts for 60 percent of total
At Risk Performance Compensation

The executive team will develop performance goals aligned the Baycrest Quality Improvement Plan including:

  • Process/initiative quality indicators
  • Process/initiative indicator related to patient/client satisfaction
  • Process/initiative indicator related to employee engagement indicator
  • Process/initiative indicator related to financial indicator

The goals above are equally weighted for all executive portfolios.

Each executive will develop goals that align to the responsibilities in their portfolio including:

  • Process/initiative lead indicators linked to the operating plan/portfolio including
    • Financial metrics
    • Operational metrics (quantifiable non-financial metrics including quality of care, innovation and employee satisfaction)
    • Strategic leadership (achieving strategic objectives)

The weighting for the above goals varies per executive portfolio.