Total rewards include everything employees acquire or receive from working at Cameco. The rewards are significant – from compensation and benefits to learning opportunities and career development. Cameco's total rewards also include programs for living well and retirement funding.
Cameco's compensation program has two components: base and variable pay.
Base pay is determined on job categorizations and market surveys or, in the case of unionized employees, is negotiated under the union contract.
Variable pay includes the following short-term and long-term incentives designed to provide employees with direct opportunities to share in Cameco’s success.
U can get a piece of the PIE!
PIE Plus is Cameco's corporate-wide annual bonus program. PIE is an acronym for performance incentives for employees. PIE Plus is a variable compensation program, rewarding unionized employees for corporate performance (the PIE component) and salaried employees for corporate and individual performance (the Plus component), as measured in annual performance reviews. Regular full-time and part-time employees are eligible for PIE Plus. Temporary employees, students and casual employees are not eligible.
Employee share ownership
Cameco's employee share ownership plan (ESOP) is available to all employees in Canada, the United States and Australia. ESOP gives all eligible employees $1,000 (Cdn) in Cameco shares each year plus the opportunity to buy more shares -- some partially matched by Cameco.
Competitive benefits are a key component of Cameco's Total Rewards. We work hard to design our benefits programs to address the diverse needs of our employees.
Cameco provides the following fixed benefits to regular full-time employees as of their date of hire:
- Employee and dependent life insurance
- Accidental death and dismemberment (AD&D) insurance
- Disability benefits
- Paid vacation leave
Salaried employees can take advantage of lower group rates and buy additional (or optional) life insurance and AD&D insurance for themselves and their dependents.
In addition to the fixed benefits listed above, salaried employees participate in Cameco's flex-benefits program, which includes fixed benefits and a choice of one of three benefits packages.
Each flex-benefits package has a combination of
- Core health benefits, such as prescription drug coverage, vision care, and paramedical services
- Dental benefits
- Flex credits - which can be allocated to one of the following types of accounts:
- Health Spending Account – provides coverage of eligible health and dental expenses that are not covered under our core benefits.
- Personal Spending Account – provides reimbursement for expenses relating to physical and mental well being, safety and green initiatives, such as fees to join a fitness facility, eligible tuition fees for education, hobby classes, tires and rims, or fees to use the services of a certified financial planner.
Cameco's unionized workforce also enjoys competitive benefits, negotiated through collective bargaining.
Cameco supports employees' ongoing career development through education and training:
For over a decade Cameco has partnered with Northlands College in La Ronge to deliver workplace education at three of Cameco's northern Saskatchewan operations. Tutorial support is provided for apprentices for technical training and trade exams. The program also provides the following:
- Literacy tutoring in reading, writing and math
- Help with GED (general educational development) preparation
- Help with college, technical institute or university courses
- Computer software training
High-potential employees, with a high school diploma and who are residents of Saskatchewan's north (RSN), that are interested in pursuing post-secondary education in a mining-related field (engineering, chemistry, geology, chemical technician, etc.) may qualify to receive financial support to cover tuition and a living allowance, and up to 80% of their salary while in school. The goal is to increase RSN employment in trade and professional positions at our northern site operations.
Cameco is focused on increasing its skilled trades workforce, especially with residents of Saskatchewan's north (RSN). Two distinct options for apprenticeship programs are offered: regular indentured apprenticeships and pre-employment programs. Learn more about on-the-job training at Cameco.
Cameco provides financial support to eligible employees working towards a certificate, diploma, degree or designation accredited program. Cameco reimburses employees 100% of the cost of tuition and related expenses to a program maximum of $5,000 or up to 80% for programs greater than $5,000, to a program maximum of $60,000. Financial support covers the cost of tuition, books and related expenses. Education assistance also includes up to 45 days of annual short-term paid leave, when employees' studies are directly relevant to their jobs or career paths and are of value to the company. Extended paid leave may be available if required as a result of special circumstances.
Learning to lead
Cameco has a suite of leadership programs that educate, develop and support interested employees, from entry level to executive level, who have the skills and desire to take more of a leadership role in the corporation.
Live better is a philosophy that guides our wellness programs. It recognizes the importance of maintaining balance across four essential health dimensions: physical, intellectual, emotional and spiritual.
Cameco offers a variety of company-wide and site-specific wellness programs such as:
- on-site fitness facilities
- lunch-and-learn information sessions
- lifestyle programs
- team activities and site-to-site fitness challenges
- interest-free loans to purchase fitness equipment and computers
Acknowledging that employees' well-being is measured in many ways, site-by-site Live Better committees help determine the best program fit for each workplace. At our northern Saskatchewan sites, employees work a seven-day-in, seven-day-out schedule, meaning those from northern communities can maintain traditional and northern lifestyles during home rotations. These wellness activities complement Cameco’s benefits programs.
Some of the other ways we help promote the wellness of our people:
- Employee and family assistance program (EFAP)
- Disability management program
- Paid vacation leave
- Paid sick leave
To help employees build financial security for their future, Cameco's retirement program has two components:
- a registered pension plan (RPP) — known as the Cameco Corporation Employee Pension Plan, and
- a registered retirement savings plan (RRSP)
Contributions are made by both Cameco and the employee based on a percentage of the employee's earnings.
Permanent full-time or part-time employees become members of the retirement program as of their date of hire. Temporary full or part-time employees are also eligible to participate in the retirement program if their continuous service is longer than six months.