The amount of incentive compensation for 2023 amounts to $37.5 million compared to $37 million for 2022.
The organization paid bonuses to 3,828 non-union employees in April 2024. Last year, 3,650 benefited. These employees received an average of $9,796 for 2023. In 2022, the average was $11,110.
In total, Hydro-Québec had 22,806 employees as of December 31, 2023. Bonuses represent 1.4% of the total payroll for 2023. Unionized staff have no longer received performance bonuses since 2014.
“Incentive compensation is an effective tool that helps mobilize the organization around specific objectives. These objectives are chosen based on the company’s priorities. Without achieving the objectives, there is no incentive remuneration paid,” explains a spokesperson for Hydro-Québec, Gabrielle Leblanc.
The state-owned company also finds itself “in competition” with large private companies. To attract the best talent, it uses bonuses like the majority of commercially oriented companies, adds Ms. Leblanc.
Hydro-Québec missed its target of 1.5 billion, concerning revenues paid to the State. The lack of rain in the north forced the electricity supplier to reduce its exports in order to adequately meet the needs of Quebecers.
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