BC’s Solicitor General is applauding the move by ICBC to make changes to their employee bonus program.
Shirley Bond referred to the changes as “a good first step” and added ICBC isn’t the only crown corporation that was served notice.
“I expect them to be as efficient as possible and that in my discussions included looking at their incentive plans. Recently government hosted a meeting with other crown corporations laying out the very same framework.”
She says people in BC expect accountability.
Bond said “British Columbians are concerned about the degree of bonusing that goes on in this province and we expect the leaders and the heads of our Crown’s to take that into consideration from my perspective I think it an important first step and we are going to continue to drive ICBC to look for efficiencies and make sure that our rate payers are at the front of their agenda.”
Bond says with ICBC making the first move she expects other crown corporations to quickly follow suit.
She said “If they (ICBC) have a net financial loss in 2011 no member of the management group will recieve any incentive pay and that includes the CEO and the members of the executive.”
ICBC told employees to expect a sliding scale bonus structure with a full bonus coming only if profit expectations are met.
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