Purpose: The document provides a framework to determine appropriate compensation and benefits for eligible employees.
Scope: This policy applies to all the executives and employees of the company.
Responsibility: The human resources department is responsible for managing a compensation program.
General policy statement:
Every employee has the right to use a 25-day paid leave.
Every employee has the right to 15 weeks of fully paid maternity/paternity leave.
Every employee has a budget of $2,400/year for maintaining and improving their physical and mental health.
The company covers 50% of each employee’s health insurance plan.
The amount of the annual guaranteed pay is revisited once a year and can be increased based on the results of the annual performance review.
The company will withhold taxes, insurance costs, and other deductions from the employee’s pay cheque.