Rewards at Unilever
Reward at Unilever
We are building a winning culture, in which every employee is encouraged to grow to his or her full potential. We have developed a performance-based reward structure that recognises people have delivered results and have the right values for our business.
Our goal is to deliver Unilever's promise to consumers and the world through a pioneering employment experience that our competitors wish they had.
That means we don't just encourage employees to give us feedback, we have developed leading-edge tools to help us hear clearly how reward feels from the point of view of our people.
Total reward statement
We aim to give every employee access to a Total Reward Statement in real time. This describes and values every element of the reward package. It also provides useful information on how the elements of each individual’s package work.
We will stretch the content and coverage of Total Reward Statements to more than just money; we want employees to be able to see the value of all their benefits at Unilever, including learning to help individuals keep track of their progress and potential.
Rate my reward
Our Total Reward Statements also have a unique feature in 'Rate-my-Reward' through which our people can tell us what they think of every aspect of their package. How important is each element to an individual? How satisfied are they with it? We want to see reward from our employees' point of view and hear their suggestions for improvements.
Total Reward Statements already cover all our management staff across 96 countries. We're rapidly adding more and more people to the coverage and we won't be satisfied until we've included every single person in Unilever.
Reward development plan
We create a longer-term Reward Development Plan for each country so that we can continuously improve the relevance and effectiveness of the rewards we offer our people.
We know that reward is important. Reward should not be a 'black box'. We believe that rewards should be 'open, fair, consistent and explainable' and we aim to deliver every aspect of this in everything we do.
Incentives
We also offer employees attractive incentives. If the company does well in meeting its goals, our total pay should be around the top quarter of the market. That means that pay for highly rated people making an exceptional contribution will be towards the top of the market range. If we all work together to deliver excellent results for Unilever, we will be well rewarded.