We ensure, that our reward package is competitive on the market. We continuously monitor best practices in the light of attracting, motivating and retaining colleagues. We also aim to harmonise compensation levels across the Group in companies with similar business profiles by taking into account local needs and local business environment.
We use the international Total Remuneration approach structuring major compensation elements, including the Annual Base Salary, Incentives and Benefits. This way we recognise great performance, and integrate reward with career perspectives for success and growth of our colleagues and our company.
MOL Group’s Total Remuneration structure:
- The major cornerstone of the compensation and benefits architecture is the HAY methodology, the most widely recognised job evaluation method. The HAY method enables the company to create and manage a single, transparent and consistent job grading system.
- Pay scales are updated annually in order to support business strategy enhancement. Salaries are revised regularly with the strategic aim to remain competitive on our markets, considering market & salary indicators as well as individual performance.
- Our remuneration schemes reinforce a merit-based culture and encourage high achievement via short- and long-term incentives. Great results are based on outstanding performance which yields significantly higher returns to MOL Group.
- We care for the various needs of our diverse, multigenerational employees via competitive benefit schemes. We consider local legislation, the tax environment and competitiveness on local markets we define our benefits. As we operate in a hazardous industry, we are covering employees with Life and accident insurance. Besides Benefit schemes, we provide a range of wellbeing programs to support the most important aspects of life, including health&wellness, financial wellbeing, workplace environment and social care even in case of unexpected circumstances.
We have a strict guideline that all of our employees are entitled equally to compensation regardless of gender, age and nationality with transparent Group-level compensation policies. Company-level rules are also defined by Collective Agreements (CA).