KPC overhauls benefits for new hires

Kuwait Petroleum Corporation (KPC) has overhauled its benefits package for new employees, aiming to standardize and potentially adjust career progression and compensation. The Board of Directors approved recommendations from its Compensation and Development Committee, authorizing the CEO to implement the changes.

A significant alteration affects promotion eligibility. New hires will now need a minimum of three years in their highest grade before their initial promotion. Following this, the required service period for subsequent promotions will be progressively reduced to two and a half years, then two years, and finally one and a half years. This new policy applies to employees who receive an exceptional performance evaluation.

New employees will receive a five percent increase in their basic salary upon promotion, provided the new salary does not fall below the starting salary of the higher grade. A budget will be allocated annually for these promotions. However, the car privilege for all new employees is being discontinued. Instead, team leaders and those above will receive a monthly cash allowance of KD150 for a car, plus a KD54 monthly transportation allowance. Companies will also provide pooled cars for site visits during working hours.

Other changes include the discontinuation of personal grades for new employees and adjustments to the mechanisms for granting them. The policy for calculating transportation allowances will now align with urban developments. Existing regulations for housing allowances and the annual incentive bonus system, linked to achievements, will continue to apply to new employees. The system for adjusting job status upon obtaining higher academic qualifications while in service has also been discontinued.