Compensation, benefits and wellness

Our compensation and benefits philosophy and the overall structure of our programs are designed to reward all employees who contribute to our success.

We offer competitive, performance-based compensation packages, follow global equitable pay practices and provide family-friendly benefits.

Compensation

Our compensation programs are generally comprised of a base pay rate, the annual Variable Cash Incentive Program (VCIP) and, for eligible employees, the Restricted Stock Unit (RSU) program. From the CEO to the frontline worker, every employee participates in VCIP, our annual incentive program, which aligns employee compensation with ConocoPhillips’ success on critical performance metrics and also recognizes individual performance. Our RSU program is designed to attract and retain employees, reward performance and align employee interest with that of stockholders by encouraging stock ownership. Our retirement and savings plans are intended to support employees’ financial futures and are competitive within local markets.

Global equitable pay practices

We have global equitable pay practices that strive to ensure the compensation of every employee reflects their talents, skills, responsibilities and experience and is competitive within our peer group. We routinely benchmark our global compensation and benefits programs with local markets to ensure they are competitive, inclusive and aligned with company culture, and allow our employees to meet their individual needs and the needs of their families.

Benefits

Our global benefits are competitive, inclusive and align with our culture. We provide family-friendly policies such as flexible work schedules, competitive time off, paid leave to care for seriously ill family members and parental leave in many locations. Given the impact of COVID-19, employee health and wellness benefits were also enhanced globally to assist employees.

Well-being

Our global wellness programs are designed to educate and promote a healthy lifestyle. The COVID-19 pandemic disrupted our daily routines, limiting interactions with others and changing how we worked and exercised. We modified our annual global wellness challenge to include virtual workout sessions and added a new module to address mental well-being, which focused on practicing behaviors that reduce stress and anxiety and promote a culture of caring and inclusion

We know that when people feel rewarded, have peace of mind and time to enjoy life, we all do better.