When we acknowledge the value and commitment of our work force, they become better connected, engaged and aligned with our company. That, in turn, encourages our talent to stay with us.
Newmont uses a global approach to compensation to be fair and competitive. We pay employees above the local minimum wage partly because our operations tend to be isolated places and because of the current shortage of skilled workers within the industry. Each year, we assess employee compensation against industry and market parameters, and make adjustments to ensure we remain competitive.
We provide a competitive benefit package to meet the needs of our employees and their families. In the U.S., our benefits package includes comprehensive medical, dental and vision coverage. At other sites around the world, we supplement government-provided benefit and retirement programs. Benefits may encompass the efforts individual sites take, based on the circumstances of the country, to enhance the work force's standard of living as well. Additionally, Newmont offers part-time employee benefits at all sites worldwide.
Other benefits we provide include a pension plan, retirement savings/401(k), bonus programs, paid holidays, paid time off, short and long-term disability, life insurance, accidental death and dismemberment and business travel accident insurance.
Newmont recognizes the hard work of team members and individuals who reach a key milestone or add particular value to a project through a variety of awards, compensation and recognition programs.