Thus, if Investissement Québec (IQ) had not paid the performance bonus, it would have attracted only two piquants from the financial community.
This was stated by the Director General of Investissement Québec Guy LeBlanc during his speech on Wednesday in the parliamentary committee.
“If Investissement Québec did not have bonuses in terms of attracting and retaining talent, we would have people from the financial sector who have not found a job,” he said.
In short, without bonuses, LeBlanc assumes that Investissement Québec will eventually get employees that no one wants and will be doomed to mediocrity.
“Square [de la] finance, says Guy LeBlanc, is an environment that pays according to results, and it’s people who are “managed” [motivés] according to the results, you prefer to give a base reward that is slightly lower […] and adjust according to the results.
Bonuses that make you competent?
His “boss”, Economy Minister Pierre Fitzgibbon, supports him: “When you want to have leaders in the private market […], I think it is clear that you should have a reward that is specific to the market. For example, IQ […] competes with a number of jurisdictions to seek clients abroad. ”
According to my colleague Sylvain Laroc, the number of employees of Investissement Québec increased from 515 (March 2018) to 1,079 at the end of December last year. Of the 564 employees who have joined the Crown Corporation, 189 come from outside the government.
The other 375 came from the Quebec Ministry of Economics and the Center for Industrial Research as part of IQ reform. In the latter, the reward increased after the transition to IQ.
Question to Guy LeBlanc and Pierre Fitzgibbon: Did these 375 employees become more competent and motivated after receiving the award?
Will private sector people who agree to be hired by IQ, Hydro-Québec, Loto-Québec or SAQ without paying performance bonuses be less motivated to do a good job and work less well?
I find it offensive to associate competence and motivation with a performance bonus, also called a variable reward.
As far as I know, the prime minister, ministers, party leaders, members of parliament, members of the cabinet and other political figures … are not necessarily a “peak two” because they work without bonuses!
Does this mean that public and parastatal services are less competent and motivated because they do not receive performance bonuses? Let’s see!
Does this mean that all private sector workers who do not receive variable remuneration (or performance bonuses) are less good, less competent, less efficient? Let’s see!
I am tired of the idea that you need to pay performance bonuses to attract competent people from the private sector.
Moreover, receiving performance bonuses is not automatically a guarantee of competence. There are many company executives who have received generous performance bonuses in the past but have not been efficient and competent.
Let’s take this for granted!
After calling on Quebec Solidarity leader Gabriel Nado-Dubois, who is fed up with bonuses paid by state-owned companies, Prime Minister Francois Lego has said he wants to “eventually” abolish bonuses given to managers and employees of corona corporations. such as SAQ and Loto-Quebec.
But because these bonuses are covered by contractual provisions, “we can’t throw them in the trash overnight,” Mr Lego added.
In short, tomorrow is not the day before yesterday!