The principal rule at Westport is to ensure equitable compensation at the market median level for all positions, throughout different Market Segments/Global Functions, and subject to affordability. We provide competitive levels of compensation that meet or exceed local minimum wage requirements.
To ensure that our remuneration level helps recruit, motivate, and retain our employees, we are currently mapping detailed numerical data to assess and address the issue in an effective manner. Competitive wages and benefit programs may vary according to country or location, but the general principle is a guiding principle.
For remuneration policies for our highest governance body, see page [see page 89 of the full downloadable report] of this report and our 2023 Management Information Circular.
Providing appropriate benefits to employees is needed to align with market practices, promote wellness, and help for retirement planning. This is why we provide a variety of benefits to our employees, which are discretionary and company funded. The scope depends, for example, on location, position, and the tenure of employment. The most common benefits are: