Way behind, but I have been reading with interest the experiences folks have had with
their employers and their employer's benefit policies. I have always felt lucky and
very, very grateful to my generous employer, and some of what I have read enforces my
feelings.
I have lived in the corporate upper middle management world for most of my career and
work with similarly situated colleagues from diverse firms all over the country. My
general view is that corporate life, for a working stiffs like us, ain't all that bad
here in the good old USA. I have also always thought no place is a bad place to live
as long as you learn how to live there.
Vacation (holiday) time to me is one of the most important benefits offered by my
employer. Luckily, unlike Kate's horrible experience, my Company insists we use ALL
allotted vacation time, allowing only small carry-overs. It's not because we are also
a Union shop, it's simply a management philosophy. Employee's are more productive
when they have a good work/home life balance. We view vacation time as critical to
home life balance. As a manager, I am not allowed, nor would I, forbid an employee
from taking earned time off when it's needed and requested. Ours is a fairly normal
corporate policy:
1-4 Years: Two weeks
5-9 Years: Three Weeks
10-14 Years: Four Weeks
15-19 Years: Five Weeks
20-?? Years: Six Weeks
The thing I love -- an employee can also BUY or SELL a week. The price is equal to
your weekly salary, spread out over the calendar year as a payroll deduction. I buy a
week every year and use it up, as well. Having been around the place for 18 years,
I've had six weeks/year for a long time. They also give us five floating holidays to
be used for religious or other personal needs. I just read a report that our average
tenure is 19.2 years, so at least half of us are getting about that much.
I know that's the luxury of being with a large company, and it also has its drawbacks,
but we gain from a large employer's need to be competitive to draw quality employees.
I did a tour of duty in our HR department and learned a lot. How companies are
benchmarked on benefits and how competitive others are for professional recruits,
often using benfits as a lure. My Company spends an adder of 36-42% of an employee's
annual salry on P&B (pension and benefits, which for a Fortune 500 corporation, isn't
out of the norm, nor is our benefit package.
I should also mention outstanding health care coverage, an education reimbursement
program that completely paid for my second undergraduate degree and my law school
degree, health club membership reimbursement, full retirement at 55 (in my case),
liberal corporate travel policies (which I use a lot), dollar for dollar match of all
my charitable contirbutions, and on and on and on.
So, as I look at it, my dear old General Motors retiring grandfather and father were
right. Go to college and go to work for a big outfit. You won't get rich, it may not
be as exciting as some careers, but you'll be comfortable and probably not overworked.
No regrets,
Coyote Rick
Casa Alegre
Hollywood, California
