Understanding
your Total Rewards
In this series, we’ve explained how you’re rewarded at Molson Coors, why we reward you in this way, how we set Base Pay and how we make Base Pay decisions. It’s now time to bring it all together and think about what this means for you.
In this final part, we explore how to get to know your Total Rewards and have effective Total Rewards conversations.
Your statement is a quick and easy way to get to know your Total Rewards package and a useful tool for making informed decisions about your career.*
It is a summary of anything you receive on a regular basis as part of your Total Rewards package for the past 12 months, which is updated regularly. Typically, your statement will include:
Your statement will not include one-off payments, such as recognition awards, or non-financial elements of your Total Rewards such as wellbeing and career development.
*It is important to keep in mind that the Total Rewards package might differ from one country to another, so the statement will look different too. If the statement is not currently available in your country, you can find details of how you’re rewarded on your local Total Rewards SharePoint site.
Your line manager should be able to provide more detail about the information on your Total Rewards Statement if needed, including explaining any annual awards you’ve been given and how your pay compares to the market and others in Molson Coors.
Think about how you want to progress your career with us. This might be finding new opportunities to stretch yourself, joining initiatives to expand your skillset or reviewing the skills required for a job in a different team with a higher Job Level (GGS). This can expand your Total Rewards potential alongside new career opportunities.
Remember, higher Job Levels (GGS) often come with larger incentives and more opportunities for performance-based rewards, but this isn’t always the case. It is possible that moving to another area of the business may reduce your Total Rewards potential. It is therefore important to know what the impact may be on your Base Pay, incentives or benefits before making an internal role change, such as a lateral move or secondment. You can find this out by speaking to your manager or HR.
As mentioned in Part 3, all employees’ Total Rewards packages are reviewed at the beginning of each year as part of the Annual Compensation Process (ACP). Your Total Rewards may also be reviewed if you change roles, at mid-year or off-cycle as an exception.
As you prepare for your annual review, it is worth reflecting on your performance as it is one of the several factors that influence whether you receive a Base Pay increase that is in your direct control. For a reminder of the other areas we consider when reviewing your Total Rewards package, look back at Part 2. To understand more about the performance process and how to prepare for your annual review, go to the Performance and Talent section of the EMEA/APAC HR pages.
This series reflects our commitment to being transparent about what we offer to you and why.
We want to build a culture where you feel confident to talk about your Total Rewards and able to have open and honest conversations with your manager about how you’re rewarded and why.
Your manager should:
Before meeting with your manager, take the time to review and consider your Total Rewards Statement, how to grow your Total Rewards potential and timings for when changes are possible as well as questions you’d like to ask.
A negotiated population means you’re part of a Works Council or Union and your pay is decided as part of a collective agreement. Your manager will be able to tell you if you’re in a negotiated population if you’re not sure.
If you don’t believe you are being paid fairly, you can share this with your manager or employee representative. This feedback can be considered for the next pay negotiation of the collective agreement for your site.
While you aren’t able to influence changes to your Total Rewards on an individual basis, you can talk to your manager about how you can make the most of the Total Rewards available to you already. Remember, Total Rewards is more than just your Base Pay, it also includes incentives, benefits, wellbeing and recognition awards.
There are certain questions we frequently receive from non-negotiated employee populations across EMEA and APAC. Explore the scenarios below as your question may be answered.
The purpose of this series is to give you a better understanding of how you are rewarded at Molson Coors. We also want you to understand why we reward you in this way and how we set Base Pay and make Base Pay increase decisions.