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Compensation and Benefits //

Why It Matters

Employees care about their compensation and want to feel valued for their contributions to the Company. We believe that rewarding people through a well- designed compensation and benefits program enhances our ability to attract, retain and motivate talented and loyal employees. This is especially relevant in a country such as Mexico, which has a large, active mining sector, thereby making the labour market for qualified workers very competitive.

Management Approach

Competitive Rewards and Opportunities

Our mining operations offer a variety of work opportunities, with positions ranging from entry level workers to skilled trades to professionals such as engineers, geologists and accountants. As part of our commitment to be an employer of choice, we offer competitive wages and benefits, as well as safety and production bonuses. We also offer a remote location bonus for workers at our Guanaceví mine, where longer commute times make recruiting and retention even more important.

For our non-union employees, we consider different factors such as results achieved during the year, market salary analysis and internal equity to determine a competitive salary. They are also entitled to bonuses paid on a monthly basis or an annual bonus that consider corporate and individual results.

Pay Equity and Benchmarking

Our commitment to gender equality includes equal pay for equal work. Men and women receive the same remuneration for the same position at all of our operations, considering training, experience and performance. Every year we participate in an annual survey organized by the Mexican Chamber of Mining (CAMIMEX) to ensure that our compensation packages and salaries are competitive regardless of work location. The survey is conducted by an external consulting firm and includes data from 36 mining companies operating in Mexico.

Employee Benefits

We tailor benefits at each of our mining sites to local needs, while striving to ensure employees across our operations have access to similar offerings. Employee benefits include public health care, life insurance, paid vacation days and savings fund contributions. Non-union employees also get private medical fund insurance. In Mexico, a certain suite of benefits is mandatory by law, including a retirement savings plan called AFORE, in which the employee, company and government contributions can total up to 11.8% (5.15% company, 1.125% employee and 5.525% government) of an employee’s salary per year, to a maximum limit.

2018 Performance

  • Continued to focus on providing appropriate compensation and benefits to ensure we attract and retain the qualified workforce we need. With El Compas commencing operations last year and our Terronera expected to start construction in 2019, recruiting will remain a major HR activity.

    Wages and Benefits (Million)

  • Provided $41.8 million in total wages and benefits for our workforce, up from $40.7 million in 2017. Our entire workforce in Mexico earned at least 60% more than the minimum salary mandated by local laws. At our corporate headquarters in Canada, we offer compensation and benefits in line with industry standards.
  • Restructured employee bonus arrangements at two sites to reflect changing needs and realities.
  • Modified worker shifts at our Bolañitos site to allow more rest time between shifts. Instead of rotating any day of the work week, shifts are now structured so that everyone rests on either a Saturday or Sunday.
  • Recognized 77 employees who took maternity leave (12) and paternity leave (65). Mexican law entitles women to three months off (45 days before delivery, 45 days after) and fathers to five days off.

2019 Priorities

  • Develop an internal talent management program

Compensation and Benefits