Our competitive compensation and benefits package is one way we acknowledge the value our people bring to Vermilion.
All permanent employees are offered a competitive base salary, short and long-term incentive plans, and an employee retirement-like scheme. G4-EC3 Our compensation and benefits programs are designed with commonality across all geographies where possible, with alignment to the local market.
Compensation – specifically bonus and long-term incentives – is associated with key corporate metrics for all employees, executives and our board of directors. Individual and company performance is associated with these metrics, which include weighted components of sustainability and HSE performance.
We strive to foster workforce wellness, health and well-being through competitive health and wellness benefits. In Canada, for example, available benefits include a taxable lifestyle account and tax-free health care spending account, health, vision and dental plans, short and long term disability benefits, basic and dependent life insurance plans and critical illness and "best doctors" insurance, plus company-paid access to an employee family assistance program. G4-LA2
In a number of our business units, staff have the option to purchase additional vacation days. The Vacation Purchase Policy was introduced in 2016, in response to employee feedback requesting additional flexibility and work arrangements.
In France and The Netherlands, employees in companies with more than 50 employees benefit from participation in a Works Council, which helps to guide the employee-employer relationship. Such a council has been in place in France since 2006, and was established in Netherlands in 2015, after we reached the staff threshold level there. The Works Council, whose staff representatives are elected by employees, is mandated to bring forward grievances and represent employees in discussions with the company on changes that affect the employee work environment, job expectations or benefits. G4-11
Our international presence also provides selected staff unique opportunities to work on assignment for a period of time, helping to broaden their operational expertise and understanding of our global operations.
To learn more about Vermilion’s compensation and benefits plans, please see our 2016 Proxy Statement and Information Circular.