Rewarding employees - Suncor's 2013 Report on Sustainability
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At Suncor, we believe people who contribute to our success should share in the rewards — both monetary and non-monetary.
That's why our total rewards approach includes:
We also formally recognize employees for their service every five years through our Suncor Service Awards program.
Our compensation programs are designed to pay for performance. We provide a market competitive suite of compensation programs that include a mix of:
Our programs start with a competitive base salary, and provide opportunities for annual salary increases to reflect both the external marketplace and employee performance.
Annual incentives are tied to Suncor's business performance (including measures of sustainability) and individual employee performance ratings. To ensure we remain competitive, we benchmark our compensation programs annually.
Suncor's competitive pension and savings plans are an important part of our total rewards. In North America, the plans are unique — featuring both defined benefit and defined contribution components — flexible and tax-effective. Our pension and savings plans provide great opportunities for employees to build a healthy financial future.
The flexible nature of Suncor's comprehensive benefits package means our employees can personalize their benefits to suit their needs. The package includes:
With our increasingly demanding lifestyles, many employees are looking for programs that help achieve success at work and at home.
Suncor employees receive generous paid vacation time, which ranges from three to six weeks per year, depending on years of service and experience level. In addition to vacation days and holidays, eligible employees also receive annual personal time-off days, which are intended to give employees extra time for medical appointments, family activities or a few extra days to enjoy leisure activities.
In North America, the Suncor scholarship program provides funding for qualifying dependants attending university or college. Awards are granted annually for up to four years or until the first degree or diploma is received. Our Education Assistance Plan provides financial assistance to employees interested in furthering their formal education and skills through courses relevant to work.
Suncor encourages community involvement and volunteerism through our SunCares Employee Program. This program provides employees and retirees with access to volunteer opportunities and rewards their efforts through financial contributions to the charitable and non-profit organizations they support.
The following grants are available to employees and retirees through the SunCares Employee Program:
In addition, Canadian employees celebrating a service milestone can choose to have the value of their service award gift donated to the registered Canadian charitable organization of their choice.
Our benefits programs for employees working in other countries where we do business comply with local regulations and similarly support our total rewards philosophy. It's about retaining top talent no matter where we do business and adding value to the communities in which we operate.
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