This is the fourth story in a series highlighting the five pillars of Freeport’s Proudly Creating Better Futures, which conveys the full value of working at Freeport. Read the previous stories here.
The metals market can be volatile. An employee’s paycheck and job stability should not be.
That philosophy helps explain the idea behind Freeport’s compensation strategy in North America, which aims to reward employees for the value they bring and provide motivation to go above and beyond expectations.
Recognizing and rewarding employees’ contributions with competitive, performance-based pay is the principle of We Value and Reward Your Contributions. That is one of the five pillars of Freeport’s Proudly Creating Better Futures, which portrays the value Freeport offers employees, communities and the world, as well as what makes the company special.
“We aim to reward employees for what they do and how they get it done, as well as share in the company’s financial success by rewarding strong performance at the individual and company level,” said Tiffany Gifford, Senior Director-Compensation and Benefits.
Extensive market research goes into ensuring Freeport is paying competitively, which includes surveying other large employers and mining companies and analyzing compensation trends. It also includes consideration for an employee’s total compensation package.
“Total compensation extends beyond your base pay and also includes incentive compensation and benefits,” Gifford said.
Freeport offers several incentive programs, with eligibility based on an employee’s role and work location. This includes the Quarterly Safe Production Bonus for certain operational site-based employees, annual bonuses, and one-time discretionary payments in recognition of employees’ efforts and commitment to the business.
The whole story
Total compensation is just one of the Proudly Creating Better Futures pillars. The four other pillars help tell the whole story:
- We Responsibly Move the World Forward – Offering you innovative and impactful work by responsibly producing the metals that improve everyday life for all.
- We Care for Your Well-Being – Committing to your overall well-being by fostering a safety-first culture and offering high-quality health and wellness programs.
- We Invest in Your Growth – Providing pathways for career advancement and skills development to help you grow.
- We Succeed Together – Creating a supportive team environment enabling us to excel together and be Foremost in Copper
“It’s not just about the paychecks or benefits”, Gifford said. “It’s about something bigger – the sense that you work for a company that genuinely cares about you, where we foster a family-like environment, and where you have the opportunities for growth and development. It’s all of these elements combined.”
Learn more in upcoming FM News stories.