In the event of a conflict between this policy and local legislation, the latter will prevail, prior communication to the global management of human resources and the global person responsible for payroll.

Compensation and benefits area:

Ensure that this policy is communicated, complied with and reflects the vision of the company, with gender equality in compensation and benefits.

Local HR leader 

Comply with and enforce the guidelines of this policy

This policy is for the exclusive use of the company. Its application and interpretation is in charge of the global management of human resources. It has a period of application from the date established in its disclosure until its modifications, improvements or updates.

As it is an intellectual property document of the institution, the collaborators must keep the corresponding confidentiality and use this document internally only.

Salary review

1. Annually the compensation and benefits area will carry out the salary analysis in comparison with the market and adjustments will be made to the salary bands in order to maintain external competitiveness.

2. The responsible area, together with the global finance and human resources department, will authorize the salary review and adjustment process, in accordance with the results context of each entity.

3. Salary increases generated by an exceptional review that responds to the needs of the organization at a certain time will be called off-cycle increases and must be approved by the global human resources department.

4. Proposals for increases must be aligned with the matrix of maximum increases in force for the country where each legal entity is located. The issuance of said matrix will be the responsibility of the global compensation, benefits and payroll management and will be validated annually.

5. Legal entities will respect and apply the increases by law and conventional agreements approved in each country where they have operations, with the prior approval of the global human resources department.

6. The local human resources management will evaluate if the proposed increases:

• They are in accordance with current local salary policies.
• In joint review with the local finance management and validation of the global finance department, if the final amount is within the expected range of increased spending.

7. Increases for promotion or promotion will have a maximum limit, defined in the matrix of maximum increases in force, taking into account the situation in each country and the financial results of each entity.

8. In exceptional cases of promotion or promotion, increases may be made in two or more sections during the year up to a limit determined by the global human resources department.

9. Salary increases must be reflected in the approved budget for the current year.

10. The global compensation, benefits and payroll management validates compliance with the salary compensation policies before processing the information and returns to the legal entity if there is any inconsistency or non-compliance.

11. Exceptions to the rules described above must be authorized by the global human resources department, the global finance department and the local general management.

Job evaluation

1. All legally constituted entities must have a job structure that allows equal distribution of salaries.

2. On a regular basis, the compensation, benefits and payroll management will coordinate with the local human resources management of each entity the stages of the updating process of job descriptions and valuation.

3. Job descriptions will be the responsibility of the local human resources area of each entity.

4. The local human resources management must consolidate and validate with direct managers that the information recorded in the job descriptions is current.

5. The compensation and benefits area of the global human resources department will evaluate the positions under the methodology adopted by the company.

6. To avoid inaccuracies, a position that does not have a job description in the current format approved by the compensation and benefits area will not be assessed.

7. In the event that an unforeseen and important change arises in the functions and / or structure of a position, it is the responsibility of the person leading the area to communicate it to the local human resources management and the global human resources department so that it can be evaluated. the impact on the job structure.

8. For the analysis and design of compensation plans or structures, salary information from the general market will be taken, as well as from the sector in which the company operates.

9. The assignment of a certain comparison percentile to establish the salary band of a position will be made taking into account the scope (global, regional or local), salary grade and segment (front office or back office) to which it belongs.