Our overall focus is on building a team of highly motivated, empowered people who work together to deliver superior results and make Vermilion a great place to work. Because we view our strong culture as the single most important factor in our long-term success, it influences everything we do, which is why we focus on:
We recognize that our staff are key to achieving our operational and business goals. It is therefore of paramount importance to ensure our staff are motivated and resourced to support high performance, integrity and teamwork.
We are committed to maintaining Vermilion’s position as a workplace of choice, to enable us to attract and retain high quality staff. This includes offering competitive compensation and benefits packages, providing a safe and respectful work environment, and sustaining our strong culture.
We look internally to fill job postings wherever possible, to provide our staff with career advancement and/or development opportunities. When we recruit externally, we look for employees with strong technical skills and creative vision who want to work in a highly collaborative and dynamic environment.
Our onboarding process is designed to make our new team members feel immediately welcome and to integrate them quickly into our culture. This includes reviewing our People, Code of Business Conduct and HSE policies, reviewing compensation and benefits, ensuring IT systems are available when they arrive, and providing key information about our company and our culture to help them feel at home.
A market-competitive compensation and benefits approach is one way we acknowledge the value our people bring to Vermilion. Our programs are designed with commonality across all geographies where possible, with alignment to local markets.
All permanent employees are offered a competitive base salary, short- (bonus) and long-term incentive plans, and a pension or retirement-like scheme. Short- and long-term incentives are associated with both individual and company performance, and are linked to specific corporate metrics for all employees, senior management team and our board of directors. These metrics include key sustainability and HSE performance indicators, supporting our priorities of safety and environmental protection.
We strive to foster workforce well-being through competitive health and wellness benefits. In Canada, for example, these 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; critical illness and "best doctors" insurance; parental leave, plus company-paid access to an employee family assistance program. 401-2 401-3
In many 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 to support work-life balance and family life.
To learn more about Vermilion’s compensation and benefits plans, please see our annual Proxy Statement and Information Circular.
Communication is critical to building a strong and respectful culture, where employees understand Vermilion’s corporate goals and the key role they play in helping to achieve them, and where the company in turn understands what is important to staff.
We have a culture of open, two-way communication at Vermilion. Leaders make themselves available to staff, and staff feel comfortable approaching leaders. Members of our senior management team also make regular visits to our field and international business unit locations, to help staff throughout the world feel part of a whole. Through the annual Great Place to Work survey, our people often tell us that they value the approachability of our leaders at Vermilion, and that they feel heard.
VETnet: Our corporate intranet (VETnet) is a key communications channel, offering both global and local news. In 2017, in response to requests from staff, we expanded its original languages of English and French to include Dutch and German. Content generation and publishing is a shared responsibility amongst stakeholders from across the organization, and we take a centrally managed approach to ensuring the editorial content remains fresh and informative, ranging from corporate news to community investment activities in all our locations. Every VETnet page features a Suggestion button, which staff can use to make suggestions or raise concerns. We respond to these suggestions within one business day.
Quarterly Town Halls. These meetings, which focus on updates from Business units and key areas such as HSE and Community Investment, feature leaders and staff from around the world presenting our progress and plans, and are transmitted and archived globally so that staff can access them regardless of location and time. A confidential staff pre-survey provides staff with opportunities to raise questions and make suggestions to the senior management team, who participate in a Q&A panel at the town halls where they answer these questions, and any others that are raised during the town hall. A confidential post-survey provides staff with a forum to provide feedback on the effectiveness of the town halls, the interest in the topics presented, and suggestions for future content. These components are an excellent way for questions, concerns and suggestions to be raised, as the staff feedback is incorporated into ongoing company strategy discussions.
Quarterly CEO Updates. Our President and CEO provides business updates every quarter via email to all staff, highlighting our performance and priorities.
In France and The Netherlands, companies with more than 50 employees benefit from participation in a Works Council, which helps guide the employee-employer relationship. Works Council members are elected by employees to represent the workforce in discussions with the company on changes that affect the work environment, job expectations or benefits. They can also bring forward suggestions, grievances and concerns. A Works Council has been in place in France since 2006, and was established in The Netherlands in 2015 after we reached the applicable staff threshold levels there. In Germany, Works Councils can be established in companies with more than five employees; our Works Council was established there in December 2016. 102-41
Ensuring that Vermilion has a positive, healthy and safe work environment is our top priority. That means it’s essential to have fair and consistent procedures to review, document and resolve events or potential violations of company policies and guidelines or local laws.
Fair culture is about understanding human involvement in relation to events in a way that:
Our Fair Culture policies create a balanced approach to assessing organizational, leader and employee accountability, helping to align Vermilion with industry best practices and positioning us as a leader in creating a balanced and transparent culture.
Our compensation philosophy and program objectives are the same for all staff, and are laid out in detail in our Information Circular and Proxy Statement annually. Each employee and executive is eligible to participate in our compensation program, including: base salary, short and long-term incentives, which we believe strengthens our organizational alignment consistent with shareholder expectations. We target total compensation between median and top quartile, depending on company and individual performance. Four objectives guide the design of Vermilion’s compensation plans:
We measure both corporate and individual performance in similar ways, with a range of outcomes from underperform and developmental to good, commendable and exceptional. For our employees, the performance management process includes:
Individual performance is tied to the six strategic objectives within our business strategy (Extraordinary People, Best-in-Class Health, Safety and Environment (HSE), Top Quartile Shareholder Returns, Robust Portfolio, Operational Excellence and Integrated Sustainability). In this way, performance measurement and, in turn, compensation are tied directly to the metrics that underpin the strategic objectives, including those for HSE and sustainability. These include both standard industry metrics and internal measures of performance, and are discussed annually in the Information Circular.
As a high-performing, global organization, Vermilion uses an integrated, web-based people information system that enables employees to easily manage their personal information while providing leaders access to required information on their teams. This system supports our focus on Extraordinary People, one of the six strategic objectives that comprise our VETVision business strategy, by providing staff immediate access to information they need.
We use a variety of checks and indicators to ensure that our People programs are achieving our goals:
In 2017, we assessed our programs in light of the UN Sustainable Development Goals, identifying opportunities to drive key targets within the Goals that are aligned with our People Approach. This showcased the importance of SDGs 3.4, 5.4 and 8.2, as referenced on our Dashboard page.
We adjust our People policies as needed to ensure we remain competitive with our peers, aligned to changing regulations, and responsive to staff requests.