Considering our employees as the main asset and major driving force in the pursuit of the Company for success, PetroKazakhstan implements measures that will create a comprehensive remuneration system to strengthen the principle of paying for good performance, maintain internal and external salary equality, competitive compensation packages and guarantee recognition for exemplary performance.
The PetroKazakhstan remuneration system consists of the following elements:
• performance and recognition
• development opportunities (for detailed information see the section, “Training and retraining”)
PetroKazakhstan has implemented a system that guarantees fair salaries, provides clear instructions on how it is applied within the salary structure. Positions are graded in line with the nature of work performed, its complexity, responsibility levels, etc. The system also supports external salary fairness and competitiveness by monitoring the employment market.
As well as maintaining salaries at a competitive level, PetroKazakhstan also ensures that it complies with the appropriate legislative provisions.
The corporate bonus scheme was created to reward the sustainable development of the company. One of the conditions for bonus payouts is that Basic production objectives need to be met. A separate bonus system was created especially for production staff in order to underline the importance of observing health and safety regulations in the work place. All PetroKazakhstan bonuses are used to express the company’s gratitude for the joint efforts of all personnel or separate groups in achieving production objectives, increasing performance and strengthening the team work.
The Company provides a wide range of benefits for its employees:
• medical insurance for the employees
• work-related accident or death insurance
• maternity benefit
• help in the education and training of dependents
• meal benefits*
• cellular communication – hardware and services*
• additional rest days due to family events
• corporate child benefits*
• sports facilities belonging to the Company*
• sanatorium vouchers*
• children’s summer camps* and etc.
* depends on the region and (or) criteria for authority
Work quality control and recognition
By applying a principle of paying for quality work, the Company has tied annual pay raises for all employees to appraisal program results. The system impacts not only individual salary levels, but also career growth: employees who have received higher grades are prioritized in the selection and hiring process.
In addition, to recognize the exemplary performance of certain employees and team achievements, the company has created an annual “President’s premium” program, which serves to motivate those employees who have made the greatest contribution to the company’s success, have concluded the most significant projects, made innovations that have resulted in the most effective use of financial resources, and improvements in business processes, safety regulations and so forth.