Compensation is the single most important influence on employee motivation and engagement. The amount of money we receive in compensation impacts our selfesteem, our perceived standing in society and in our peer group, and our personal security. No matter how many other advantages an organization provides (flexible work hours, telecommuting, a fun workplace and great colleagues), if the compensation is below the perceived average for equivalent work, employees will not be fully engaged and there will be a risk to their motivation and retention. Compensation of public employees is also a touchstone for the population at large. One needs only to consider the controversy over the salaries paid at Translink or B.C. Ferries to understand the potency of this issue politically. The counterargument presented by government officials is that talent is now a global competition, and public service organizations must pay salaries on par with those in the private sector to attract top executive and management talent. It is probably true as well that many who complain about public sector salaries have not actually researched the situation and are therefore responding emotionally rather than rationally.
In this question, you will use your research skills to cast some light on this issue and arrive at some fact-based conclusions. Here’s how it will work:
1. You will research executive compensation (including salaries, incentives, benefits, and perks) at at least one Crown Corporation. Examples include All Companies are in BC CANADA.: B.C. Ferries, B.C. Hydro, TransLink, any of the regional Health Authorities, and ICBC. Focus on researching executive-level compensation (i.e., CEO, COO, senior vice presidents, vice presidents).
2. Select at least one B.C.-based organization in the private sector to benchmark your Crown Corporation to. Examples of B.C. private sector organizations include ( ypu can chose any company) ,Canfor, West Fraser Timber, Overwaitea Food Group, Flatiron Construction, Ledcor, Nature’s Path.
3. Analyze the information you collected and draw conclusions about B.C. salaries in the public and private sectors.
Sources of information: The companies’ annual reports (private companies), the B.C. Public Sector Salary Database media articles
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