Our compensation programs
Our compensation programs are designed to align employee interests with the interests of our shareholders, attract and retain high-performing staff, reward strong performance and manage excessive risk-taking that could have a material adverse effect on the company. For more information on our key governance practices for compensation, refer to page 28 of the 2017 Management Information Circular.
Our pay for performance approach takes into account both individual and corporate performance, as well as expected behaviours. Our total compensation package provides a level of fixed compensation, such as base salary, while allowing for the ability to reward strong performance through variable compensation components like the annual performance bonus and long-term incentive awards. The annual performance bonus reinforces a focus on safety, operational performance, environmental actions, consolidated financial performance and strategic accomplishments, as outlined in our corporate scorecard. For more information on the elements of compensation, refer to page 32 of the 2017 Management Information Circular.
Our Human Resources and Compensation Committee provides oversight with respect to executive compensation, executive talent management, retention, corporate performance, pay for performance and say on pay. To give our shareholders a say on pay, a non-binding advisory vote on our approach to executive compensation is held every year as part of our Annual Meeting of Shareholders. It’s intended to further enhance transparency regarding the Board’s philosophy, principles and approach to executive compensation.