Executive Compensation Plan
At Almonte General Hospital/Fairview Manor (AGH) and Carleton Place & District Memorial Hospital (CPDMH), patient and resident care is our top priority. To deliver safe, high quality care, we spend the majority of our operating budget on patient/resident care and services. As a result, less than 2% of our operating dollars are designated toward executive compensation. But how we spend these dollars is important.
The Government of Ontario has frozen executive compensation for the past eight years and has now prescribed a process to adjust compensation for hospital executives. We need effective leadership and high-performing, strategic executives at our senior leadership table. To attract and retain the talented, innovative leadership that the hospital needs, we must provide a fair and competitive Executive Compensation Plan.
AGH/FVM and CPDMH have a history of collaboration and have created the Mississippi River Health Alliance to guide their commitment to better local health care. In this spirit, the AGH/FVM Board and the CPDMH Board have come together to develop one Executive Compensation Plan. The two hospitals share several executive roles, meaning they also share the compensation plan.
The two Boards have been carefully considering the new requirements of the Broader Public Sector Executive Compensation Act (2014) and the subsequent Regulation 400/1 which came into effect in November 2017. This draft Executive Compensation Plan ensures that the two hospitals are compliant with these requirements.
Our hospitals operate 24 hours a day, every day of the year. Our leaders are often on call and accountable to our patients, residents and staff. Our executives are responsible for the care of our community when they are at their most vulnerable.
As part of the consultation phase, we invite members of the community to comment on our proposed Executive Compensation Plan before February 25, 2018 at 5:00 pm. All feedback will be reviewed by both Boards.
Your comments can be emailed to email@example.com or firstname.lastname@example.org
Thank you for your input.
Randy Larkin Terry Cairns
Chair, Board of Directors Chair, Board of Directors
Almonte General Hospital/Fairview Manor Carleton Place & District Memorial Hospital