To ensure equitable compensation for all employees in every role at the Company, Range bases our compensation philosophy on industry- and position-driven data for market competitiveness. Individual pay decisions throughout the year undergo a comprehensive review and approval process. Managers are empowered to consider market data, performance, contribution, and expertise, among other factors, in their decision process. Outlier and trend analysis is performed to ensure fairness enterprise-wide.
In addition, Range offers a number of employee benefits, including some created as a direct result of employee feedback and surveys:
- Insurance: Employees of Range Resources are eligible to enroll in health insurance and life insurance through their employment with the Company.
- Paid Vacation: All full-time employees receive a minimum of three weeks’ vacation.
- Stock Compensation and 401(k) Match: All full-time employees at Range are awarded stock in the Company as part of their total compensation. As a result, our employees are stockholders in our Company, creating an environment for everyone to think like a business owner and to participate in Range’s long-term success. This compensation is in addition to our 401(k) match program, enabling our employees to save toward financial security during retirement.
- Paid FMLA: Range offers two weeks of paid FMLA leave for employees per year to care for a spouse, child, or parent, maternity/paternity leave, and adoption/foster care.1
- Grandparent’s Leave: Range’s grandparents receive paid time off up to three days per year, per event (separate from vacation) to a maximum of two events in a rolling 12-month period. This must be used within 60 days of a grandchild’s birth.
- Adoption Assistance: Range will provide adoption assistance reimbursement on expenses incurred, up to a max of $10,000 per adoption and a $20,000 lifetime maximum to employees with 12 months tenure.
- Cariloop: This is a Range-paid caregiver support benefit that gives employees a resource to assist with elder and childcare.
- Paid Volunteer Days: Full-Time Employees receive two paid days per year to pursue volunteer opportunities in the communities where we live and operate.
- Year-Round Flex Schedule: Employees have the option to work a year-round 9/80 or 4/36 work schedule.
- Spot Bonus: Our employees, other than directors and above, are eligible for spot bonuses awards recognizing exemplary performance and contributions.
- Tuition Assistance: Range will reimburse employees up to $5,250 per calendar year for tuition and book costs.
In addition to the above benefits, Range provided additional benefits in response to the COVID-19 pandemic. Copays were suspended for any telemedicine visits. Access to mental health resources were expanded and highlighted within employee communication platforms. Additionally, loan repayment suspensions were implemented within the Company’s 401(k) plan.
1To be eligible for FMLA leave, an employee must have worked for Range for at least 1 year and for at least 1,250 hours during the previous 12 months.