Total Rewards Philosophy. March 7, 2012 (updated September 2017)

Transcription

1 Total Rewards Philosophy March 7, 2012 (updated September 2017)

2 Overview ATRF has created a Total Rewards Philosophy that will: Support ATRF s mission, mandate, corporate values and business strategy Be at the core of our employee value proposition Help attract, retain, engage, and motivate high-performance employees ATRF promotes a one organization approach to its Total Rewards Philosophy The creation of a total rewards philosophy captures all ATRF reward programs, both monetary and non-monetary, that recognize employees for their talent, commitment, contribution and time 2

3 Overview The Total Rewards Philosophy is aligned to deliver market competitive programs ATRF believes a fully articulated Total Rewards Philosophy will increase program transparency, increase employee understanding, and positively engage employees ATRF strives to attract, retain, engage, and motivate high-performance employees through a market competitive total rewards program that is aligned with ATRF s mission, mandate, corporate values and business strategies, and recognizes employees for their talent, commitment, contribution and time. 3

4 Background ATRF s Total Rewards Philosophy is designed to support our people and business strategies and to be aligned with ATRF s mission, mandate, corporate values, strategic directions, and Enterprise-Wide Risk Management (ERM) Plan Mission: Working in partnership to secure your pension income Mandate: ATRF s mandate is to deliver the benefits established by the plan sponsors for current and future plan members. This requires a plan that is sustainable over the long term at a cost and risk level acceptable to the plan sponsors. 4

5 Background Corporate Values Excellence We strive to achieve excellence in everything we do We set measurable targets and evaluate our progress towards achieving them We aim to be an employer of choice Accountability We take responsibility for our actions and results We operate with transparency and open communication We are guided in all of our actions by our fiduciary responsibility Integrity We value and respect employees, plan members and stakeholders We treat individuals and groups equitably and honestly We ensure our conduct is ethical and responsible Partnership We achieve more working together than as individuals We pursue mutual respect and dignity in our dealings with others We build strong and collaborative relationships 5

6 Principles and Implications Principle Our total rewards program will be market competitive to attract and retain high-performance employees and will be based on the overall success of the organization We will promote a pay-forperformance environment Our processes will be fair and transparent Implication Total rewards programs are designed to provide competitive programs while supporting ATRF's objective of securing the pensions of plan members through cost-effective and efficient use of resources. The programs will be positioned at the median of the peer group for expected performance Appropriate competitive peer groups will be established All aspects of pay will be tied to the results delivered As results vary, so will pay Total compensation may be above median when justified by performance Fairness does not mean everyone gets the same Appropriate governance processes will be in place to ensure alignment with the Total Rewards Philosophy 6

7 Principles and Implications Principle We will reward corporate, team and individual contributions We are committed to helping our employees succeed Implication Corporate, team and individual performance will be recognized Our training and development programs will be focused on our employees success We will offer our employees the opportunity to learn and grow with ATRF so that they are then able to increase their impact on results and see more reward for their performance We will provide programs to help our employees balance their work and life responsibilities 7

8 Principles and Related Programs Principle Our total rewards program will be market competitive to attract and retain high-performance employees and will be based on the overall success of the organization We will promote a pay-for-performance environment All programs Base pay Related Programs Variable pay, including where eligible, short-term and/or long-term incentive pay Performance management Our processes will be fair and transparent Base pay adjustment Variable pay, including where eligible, short-term and/or long-term incentive pay Learning and development 8

9 Principles and Related Programs Principle We will reward corporate, team and individual contributions Base pay adjustment Related Programs Variable pay, including where eligible, short-term and/or long-term incentive pay Employee recognition Learning and development We are committed to helping you succeed Work/life balance 9

10 Foundational Rewards Base Salary Local Authorities Pension Plan Comprehensive Health and Dental Care Plan Health Spending Account Life Insurance Casual and Extended Sick Leave Plan Extended Disability Benefit Plan Annual Vacation Statutory and Declared Holidays Voluntary Benefits Performance-Based Rewards Base Salary Adjustments Variable Pay, including where eligible, short-term and/or long-term incentive pay Employee Recognition Career and Environmental Rewards Training/Development Educational Support Flextime Program Leaves of Absence Staff Parking Corporate Support for Social Activities 11

11 ATRF Total Rewards Philosophy Assessment & Oversight ATRF promotes a one organization approach to its Total Rewards Philosophy. As such, the primary comparative group for all positions consists of Canadian in-house pension funds and institutional investment organizations of similar size and complexity. ATRF also recognizes that some positions within the organization have transferable and marketable skills outside of the primary comparative group and therefore we also evaluate competitive pay amongst similar sized Alberta-based-general-industry groups and other applicable organizations to ensure we remain competitive from a holistic perspective. 12

12 ATRF Total Rewards Philosophy Assessment & Oversight To remain aligned to the Total Rewards Philosophy, ATRF reviews and benchmarks the rewards program on an annual basis against these comparative groups The annual total rewards program review is supported by external human resources and compensation consultants who have expertise in this area and can provide ATRF with perspective and advice The ATRF Board s Human Resources and Compensation Committee oversees and approves the Total Rewards Philosophy 13