RIO TINTO LTD
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
View on SEC.govAbout this filing
The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2024 · Filed Feb 20, 2025
RIO$83.73+0.7%Stored close · as of Nov 6, 2026
Contents
Remuneration principles
How is the Remuneration Policy applied to the wider employee population?
The remuneration framework that applies to the wider employee population is inspired by, and consistent with,
the Remuneration Policy that applies to executives. This allows the reward offering to employees to be competitive
and strongly linked to performance, while staying aligned with the company culture.
| Competitivereward | Rewardperformance | Recognisepotential | Fairness | Focus onwellbeing | Retaintalent |
|---|---|---|---|---|---|
| Consistency | –We take a consistent approach in how we implement our Policy to enable transparency and fairness.–Our STIP design uses one scorecard for around 27,000 employees, including executives. This consistent approach supports the delivery of our strategy, and a mindset shift in how we win collectively. | ||||
| Fairness | –We are committed to providing equitable pay for equivalent roles and contribution. We review and monitor pay equity through different lenses:•In-depth pay equity analysis as part of the remuneration review process. Through this, we manage pay equity from multiple perspectives, including gender.•We annually review employee remuneration against living wage benchmarks, and achieved accreditation as a Living Wage Employer from the Fair Wage Network in 2024.•Minimum global standards, which we implement across all countries to ensure the foundations of our reward offerings, meet levels determined by the Group irrespective of local market practices. Examples include global standards for parental leave and life assurance. | ||||
| Ownership | –We promote material participation in our all-employee share plan (myShare) to create stewardship and provide employees with access to building longer-term financial security.–As at 31 December 2024, approximately 36,000 (2023: 34,000) of our employees across more than 30 countries are shareholders in the company.–Employees invest approximately $26 million (2023: $24 million) in Rio Tinto shares every quarter through the myShare plan.–Employees eligible for LTIP awards receive these as either MSA, vesting over 3 years and not subject to performance conditions, or PSA which are performance-tested over 3 years. | ||||
| Recognition | –Launched in February 2024, RockStars is our global recognition and service milestones program, reaching over 58,000 colleagues.–The program is supported by an easy-to-use platform, accessible across countries, offering a simple and standardised framework for recognition at all levels.–Recognition moments are aligned with our company values, promoting the behaviours we want to see at Rio Tinto. –The program is complemented by our annual RockStars of the Year Awards, where noteworthy employee efforts are celebrated. | ||||
| Wellbeing | –We provide industry- and market-leading benefits programs that focus on holistic and integrated support for physical, mental and financial wellbeing.–The benefits we offer can be tailored to suit different needs and life stages, including: employee assistance; minimum standards for life, accident and disability insurances; medical plans and virtual care, health screening and prevention; and subsidised health and wellbeing services. | ||||
| Numbers at a glance | 36,000Employee shareholders(2023: 34,000) | <1.5%Equal pay gap in favour of men(2023: <1%) | 27,000STIP participants(2023: 26,000) |
|---|---|---|---|
| 195,000Recognition and service milestone moments(2023: n/a) | 2,200LTIP participants(2023: 2,000) | ||
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