14 Apr 2021
- Cepsa's compensation program was selected as the best initiative by the jury for offering a customized value proposal for each employee.
- The company takes into account the needs and pillars of wellness that each employee requires according to where they are in their lives and their preferences.
- These awards are intended to encourage and highlight the best initiatives in the area of employee compensation and how they are delivered to employees.
Cepsa was selected as the winning company in the first edition of the Employee Compensation Awards. The jury recognized the energy company's compensation program for its modular and integrated structure, which offers benefit solutions that meet the basic needs and pillars of employee well-being: physical, emotional, financial, and social.
However, the primary innovation of this initiative is its ability for completely personalized adaptation to the situation of each employee, demonstrating the company's awareness that each of its employees is at a different space in life and, therefore, their needs and desires are also different.
To this end, Cepsa conducted an analysis of groups according to age, gender, seniority, category, location, family responsibilities, etc. With this information, the company developed its "Mi" program for the groups with a more complex compensation and benefits package. This is a personalized portal where they can see an in-depth review of all the personalized components of compensation and benefits that apply to them at any time and place.
As a result of this program, which acts as an umbrella, various initiatives have arisen, such as "MiFlex," "Flexi12," and "My Insurance and Pensions," which Cepsa aims to leverage to achieve maximum simplicity, ease, and adaptation when choosing and managing benefits. In addition to all these features, there are also other complementary programs, such as Mas vida Red, Familia Fácil, and Dependentia, which were also created to meet all the needs of employees, both in terms of emotional and social well- being and legal advice or official procedures.
In this regard, the jury of the Employee Compensation Awards has rewarded Cepsa's eagerness to put its professionals at the center of its focus. After receiving the award, Álvaro Casal, Head of Compensation and Benefits of the company, said: "through our compensation program, we do not seek to have a total compensation value proposition but as many as Cepsa employees have, offering relevant products for each person and that can be selected according to their needs and desires. All this in a sustainable way for the company and always seeking to continue advancing and adapting more to the needs of our professionals".
These awards, organized by RRHH Digital and sponsored by EY, BMW Madrid, Payflow, Compensa Capital Humano, and Edenred and relevant associations such as the Spanish Association of Human Resources Directors, seek to promote and highlight the best initiatives in the field of employee compensation and how to offer them to employees.
Applications must therefore focus on social benefit programs and plans, flexible remuneration, and care for the physical, mental, and financial well-being of employees, among other aspects. Also important is the use of digitalization and flexibility to reach employees in the most convenient and personalized way possible.
RRHH Digital, which is the first online newspaper for human resources and training with 15 years of experience, has pioneered the first year of an awards ceremony in this field in Spain. Cepsa is therefore the first company to receive such an award in Spain.