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Article | Client Advisory

Workforce rewards and executive compensation – Fall 2021

Compensation Strategy & Design|Executive Compensation|Future of Work|Inclusion and Diversity|Talent|Total Rewards|Wellbeing

November 10, 2021

Recent developments in workforce rewards, pay equity, corporate inclusion and diversity and governance, regulatory compliance

Various workforce rewards and executive compensation developments have occurred since the publication of our last Client Advisory. Key items of interest include:

Executive compensation and governance:

  • Taxation of employee stock options
  • Say-on-pay voting results
  • Draft Ontario Capital Markets Act released for public consultation
  • CSA executive compensation disclosure
  • Proposed CSA climate-related disclosures
  • New requirements for electing directors under the CBCA
  • New business corporations statute in Saskatchewan
  • Corporate meeting rules in various provinces
  • OSFI ends compensation restrictions at federally regulated deposit taking institutions and insurers
  • Canada Emergency Wage Subsidy and new support programs
  • SEC rule changes on shareholder approval of executive compensation arrangements
  • SEC initiatives on ESG
  • Representation of women on corporate boards

Workforce Rewards and Pay Equity:

  • Federal pay equity legislation in force
  • Federal employment equity amendments
  • Wage Earner Protection Act changes, effective November 20, 2021
  • Working on Sundays in Manitoba
  • Minimum wage and statutory holidays in various jurisdictions

Case law:

  • Majority voting policies
  • Bonus entitlement
  • Impact of COVID-19 on reasonable notice
  • Vacation and holiday pay class action
  • Pay equity

Inclusion and diversity:

  • US and international corporate diversity
  • International gender pay gap studies
  • Teleworking and hybrid arrangements
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