The review process which determines compensation at Repsol promotes individual performance as well as teamwork. This appraisal system allows us to measure and acknowledge people's contributions to meeting the company's objectives.
Thanks to the appraisal systems in place, our teams know what is expected of them and are always aware of the status of their performance. Our appraisal system provides valuable and reliable information that allows the organization, managers and the individuals themselves to identify the areas to focus their development plan. This tool also helps us achieve greater consistency when making decisions regarding promotions, appointments and other career advancement decisions.
The entire management system at Repsol promotes training, teamwork and the achievement of goals in an efficient manner.
Ultimately, our goal is to attract, retain and motivate the professionals within our company who contribute their talents to achieving the company’s goals.
Repsol's compensation and benefits system aims to guarantee competitiveness and internal equity in a global environment. We regularly participate in compensation surveys with the best consultancy agents worldwide to ensure we remain competitive in our efforts to attract and retain talent.
In most countries our policy is to situate ourselves in the 75th percentile of financial remuneration.
Financial compensation at Repsol is composed of a fixed annual payment, a variable annual payment and a medium-term payment. Competitive employee benefits are also provided in each area:
In addition to financial compensation, at Repsol we believe in the value of recognizing good performance, which is why there are various non-monetary acknowledgement programs aimed at visibly recognizing and rewarding particular performances. These are very well received by our employees and typically attract high participation.
Last updated: 17 March 2014