An integral part of the remuneration system in the Group of Companies is a program of social support for employees and their families that is taken into consideration when assessing the overall attractiveness and competitiveness of the proposed remuneration.
Zarubezhneft JSC Group of Companies has approved the Unified Concept of one-time payments and social policy aimed at a decent medical care standard, employee aid depending on various circumstances, reimbursement of lost earnings upon retirement, as well as supporting the Group’s retirees.
To maintain its staff’s health, the Company organized recreation packages at health resorts in the Republic of Crimea. Employees are allowed to purchase vouchers for themselves and their families that are partially compensated by Zarubezhneft JSC; preference is given to large families and families with children under 14 years of age.
The Company continues to operate a parity corporate program providing non-state pension benefits to its employees.
The size of social benefits per employee of the Group decreased in 2018 compared to 2017 by 21%, which was caused by a significant share of allowances in 2017 after work completion due to the early retirement of JV “Vietsovpetro” employees. Exclusive of these payments, the increase in social benefits per employee in 2018 compared to 2017 amounted to 16%:
Non-financial motivation also occupies an important place in our personnel motivation system. To reward its employees and work teams for their significant contribution to the development of Zarubezhneft JSC, their achievements of high production, as well as high financial and economic performance, and to improve its corporate culture, the Company has established the following awards and ranks: “Honorary Worker of Zarubezhneft JSC”, “Veteran of Zarubezhneft JSC”, the Zarubezhneft Diploma and the Zarubezhneft JSC Certificate of Acknowledgement.
Over the past year, 302 employees of Zarubezhneft JSC Group of Companies were awarded state and corporate awards:
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