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Goldcorp Global Assignment Management System 2016 Annual Report

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GoldcorpGlobal Assignment Management System2016 Annual Report

“My team and I have been privileged to serve Goldcorp’s mobility needs for a number of years. With the addition of Global Assignment Management System services a year ago, Malcolm and his team joined our broader Goldcorp engagement team.”

Hein WincklerGlobal Engagement Partner for Mobility

3Goldcorp Annual Report 2017 |

Goldcorp is EY’s largest and most important mobility client in Vancouver

What we achieved in 2016

5Goldcorp Annual Report 2017 |

Implemented 12 months

of successful monthly compensation

accumulation and review

Successful joint execution of year-end payroll and

compliance requirements

Created Business Intelligence reporting/analytics customized

for Goldcorp

Implemented a regular monthly process of

data collection and evaluation to

prevent year-end rush for assignee data

Refined a streamlined,

cost-effective three-phase shadow

payroll process

Developed improved method

of annualizing data to support shadow payroll

calculations

August 2015 EY engaged for Global Assignment Management System (GAMS) services

September 2015 Implementation meeting with Goldcorp in Vancouver

September – December 2015 Implementation and process documentation

January 2016 Go live for GAMS services

Majormilestones

March 2016 Implementation recap meeting with Goldcorp in Vancouver; discussions of lessons learned from first two months of ongoing service

Implementation of initial version of Business Intelligence reporting

May 2016 Shadow payroll data support moved to EY GAMS team

August 2016 Implementation of updated version of Business Intelligence reporting

October 2016 – February 2017 Formalized year-end processes

September 2016 Year-end planning meeting with Goldcorp in Vancouver

Naomi Scavington co-presents mobility roundtable with EY team

January 2017 Completion of first full year of service to Goldcorp

February 2017 Name changed from managed payroll to GAMS

7Goldcorp Annual Report 2017 |

Our support services

9Goldcorp Annual Report 2017 |

Redu

ced • Errors and inconsistencies within the process

• Cost and time to produce T4s and W2s • Overpayment of foreign taxes • Need for amended tax returns (with attendant time and cost) due to amended T4s or W2-Cs

• Risk of audits • Internal time needed to manage compensation collection and problems due to foreign team member turnover

• Out-of-scope work required on tax compliance engagement to clean up compensation data

• Multiple owners of compensation management process

• Duplicate or unauthorized payments • Duplicate reporting between home and host, where not required

• Potential reduction in interest and penalties Impr

oved • Global compliance

• Ability to stay current with rules and regulations in all tax jurisdictions globally

• Ability to maintain consistency of tax positions between payroll and tax returns, as EY’s technology has customizable global tax positions built in

• Employee satisfaction (both for assignees and mobility program team members)

• Integration with tax return process, leading to a simpler experience for Goldcorp

• Smoother and more accurate shadow payroll process • Global acceptance and understanding of the need for the process (via training and education

Assignee locations

11Goldcorp Annual Report 2017 |

47%of assignees are

housed in one of five locations in Mexico

143total assignees representing 16

different countries

El Morro

1

1

5

45

8

El Sauzal

Reno

Vancouver

Penasquito

Los Filos35

2

13

Marlin

Toronto

Mexico City

Location of assignees by mine site/office

30

1

Cerro Negro

Santiago

1

1 Chile

Program financials

13Goldcorp Annual Report 2017 |

Host housing per locationBase salary per location

Average cost per assignee Expenditure in CAD

Severance pay per location

PenasquitoCerro Negro

MarlinMexico City

Los FilosChile

El SauzalToronto

Vancouver

29%26% 22% 13% 5%2%1%1%1%

MarlinCerro NegroPenasquitoMexico City

TorontoVancouver

ChiliLos Filos

29%27% 18% 10% 6%5%3%2%

PenasquitoCerro Negro

Los FilosEl Sauzal

Mexico CityMarlin

48%27% 12% 7% 3%3%

$750k$100k

Mexico

Argentina

Guatemala

Mexico

Canada

$20m$1m

Base Salary

Host Tax Authority Payments

Bonus Performance

Severance Pay

Mobility Premium

EY differentiators

15Goldcorp Annual Report 2017 |

Global taxability analysis in

100+ countries

� Easy, flexible process that is adaptable

to your specific needs

No mandated data collection formats – our technology works with your systems’ outputs

� Stronger review processes to confirm that your compensation data is correct

� Strongest technology available in this space

One end-to-end owner of the compensation collecting, analysis,

reporting, and shadow payroll process

EY | Assurance | Tax | Transactions | Advisory

About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

© 2017 Ernst & Young LLP. All Rights Reserved.

ED None

In line with EY’s commitment to minimize its impact on the environment, this document has been printed on paper with a high recycled content.

This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice.

ey.com