Remuneration

Newmont utilizes regional salary and benefit surveys and internal grade comparisons to ensure remuneration packages are competitive for each individual's level of performance, knowledge, skills and geographical location. All jobs are graded on a standardized job evaluation system and a global grade structure is in place.

Benefits

Newmont HR is creating “The Gold Company of Choice " in the area of Employee Benefits. We offer comprehensive benefit programs worldwide to fulfill employees' individual and family needs. We continually evaluate our offerings to provide the highest quality and most efficient benefit programs globally. Our benefit strategy is aligned to create and realize value for Newmont by attracting and retaining our most valuable asset - our employees.

Employee Development

The cornerstone of Employee development is set in Newmont's commitment to "Develop the best people in pursuit of excellence." This value indicates the dedication and commitment that Newmont has towards developing all personnel in order to build the "best people".

Development Planning - Newmont strives to continuously improve and provide strategic development opportunities for our greatest asset, our people. Newmont has recently begun the deployment of a newly defined global Management Curriculum that seeks to build management and leadership skills throughout the organization.

Performance Management - Newmont strives to achieve an integrated approach to employee performance management and development by linking key competency expectations to the company's goals, values, and management philosophy. The focus on people development includes an obligation to helping employees understand their talents and finding productive avenues for unleashing them.

Employees and their managers work together to define key objectives during the first part of every calendar year, continuously track alignment to the Newmont values and key objectives during the year, and formally review performance at year's end. An employee's objectives and value performance assessments are used for compensation decisions including annual bonus and merit-based pay increases.

Succession Planning - Newmont has a formal and structured succession planning process. The succession planning process enables Newmont to track and manage movement of personnel within strategic positions at Newmont. The Succession Planning processes are based on gearing employee development towards internal growth of personnel to fill future position openings with internally developed talent.

Gold Medal Performance - An employee-based initiative aimed at systematically driving inefficiencies out of the entire company.

This program aims to provide significant improvement to business processes which are expected to translate into enhanced safety performance, cost savings, environmental improvements, and better relations with stakeholders.

In order to achieve these benefits, Newmont has begun utilizing the Change Acceleration Process (CAP). CAP is based on an initiative developed by General Electric Corporation and shared with Newmont as a strategic GE customer. CAP provides a necessary set of tools to aid employees in identifying required changes, a plan for change, and systems and structures to make the changes last. Each employee is trained in using these tools.