Petro-Canada's Total Compensation Strategy and Program Research Paper

Petro-Canada's Total Compensation Strategy and Program - Research Paper Example So, the creation of petro Canada was a part of his dream of self-sufficient Canada. The creation of the petro Canada goes back to the year 1973 when the world found Arabs having huge reservoirs of oil were badly engaged in the bloody wars and the prices of oil went to the sky (Forster, 1993). The province of Canada, Alberta had plenty of the oil reserves which were controlled by an American corporation. This was the time when the Chinese president and the opposition felt the sheer need of the time of establishing a Canadian corporation which could control major part of the oil trade. The resident wanted the American corporation to spend more amount of the oil supply to Canada and les to be the states of America while the business was going on reverse. So, 1975 was the year of birth of the Canadian corporation petro Canada. This angered the western world (Greene, 2010). The company kept on working as the one of the Canada’ s largest corporation and fulfilling almost 40% of the Canadian domestic and industrial needs. The idea of the petro Canadian as a powerful tool however was not liked by the liberals who were against the establishment of the corporation and wanted to sell it off (IGI, 2009). 1988 was an important year in the history of the petro Canada; it was the time when the government tried to represent the corporation as a symbol of the Canadian nationalism though Olympic bid. This was the high time for the petro Canada to get popular inside and outside Canada. With the coming years, the corporation made its grounds firm by purchasing few of the world’s famous oil brands and suppliers however the services of oil and gas refinery were got by British Petroleum Canada (Forster, 1993). 1980 was the year of the changing history of petro Canada. This was the time when liberals came in power and with their authority in the government, the energy issue was raised. They stopped the idea of making petro Canada as a symbol of Canadian nationalism and m ade it just to compete with the oil companies in private sector (Shields, 2007). Soon the corporation saw its deterioration and the government decided to privatize petro Canada. In 1991 the shares were sold in the open market while keeping 19% in the company. The shares price fell dramatically and the company suffered a drastic loss with many employees being laid off (Forster, 1993). In 2009, it was merged with Suncor and now it is owned by it while the brand is used nationwide. It has owned refineries in Quebec, Alberta and Montreal. Its major projects were White Rose, Hibernia and Terra Nova (IGI, 2011). It was 2006 when the company decided to enter in the mobile market and launched a prepaid service known as Petro Canada Mobility. In 2009, it decided to open fast food restaurants and provided the services of car wash with drive thru. Its offered services also include car repair service which is known as Certigard Car Repair. The Suncor ownership has surely brought a changed envir onment while entering in the open race of competition and brings the services to increase its customer market. Petro Canada has though been privatized yet it still symbolizes the Chinese president’s dream of all being independent (Greene, 2010). Petro-Canada For entry level positions Like any other company, the level of