DRIVER I - DEVELOP A COMPENSATION PHILOSOPHY & TOTAL REWARDS MODEL

• Compensation Philosophy statement - We strive to provide a base salary that meets the market (50th percentile) when employees are fully proficient and meets expectations. We believe that employees consistently performing above expectations and are proficient in the role should be rewarded with a higher base pay.

(Payscale, 2023)

• Salary Administrative Guidelines drafted and reviewed by the Executive Team.

• Discussed issuing “Total Rewards Statements” to enhance the understanding of benefits and total compensation with our Benefits Broker in January 2022. Sourcing for Vendor is underway.

• Benefits and Compensation Team to administer the implementation.