COMPENSATION AND BENEFITS
Considering our employees as the main value and the main driving force in the company’s striving for success, PetroKazakhstan is implementing measures to create a comprehensive incentive system that strengthens the principle of remuneration for labor quality, supports internal and external fairness of remuneration, competitiveness of compensation packages and ensures recognition of exceptional quality of work.
Incentive system of PetroKazakhstan consists of the following elements:
PetroKazakhstan has implemented a system that ensures internal fairness of remuneration by providing clear instructions on how to administer it within the wages pattern. Breakdown of positions in grades is determined by the nature of the work performed, the complexity of the work, the level of responsibility, etc. This system also maintains external fairness and competitiveness of remuneration levels by monitoring the labor market.
Along with maintaining a competitive level of basic salaries, PetroKazakhstan also ensures that salaries meet the requirements of the relevant legislation.
The corporate bonus system was designed to reward the sustainable development of the company. The condition for paying bonuses is the fulfillment of the main production tasks. A separate bonus system was created specifically for production workers to emphasize the importance of observing safety at work. All bonuses paid by PetroKazakhstan are aimed at expressing gratitude for the joint work of all personnel or individual groups in an effort to achieve established production goals, increase productivity and strengthen teamwork.
The company provides a wide range of benefits for its employees:
*depends on region and/or eligibility criteria
Performance management and recognition
By enforcing the pay-for-performance principle, the company reinforced the dependence of the annual salary increases for all employees on the results of the quality assessment program. Such system allows to influence not only the individual level of remuneration, but also the career growth: the employees who receive the highest marks are given priority in the selection and recruitment process.
In addition, to recognize the exceptional performance of individual employees and outstanding team achievements, the company has established the Excellence Award program. It serves to reward those employees who have made the greatest contribution to the success of PetroKazakhstan, completed large significant projects, made rationalization proposals that led to more efficient use of financial resources, improvement of business processes, safety, etc.