Lexmark and its subsidiaries around the world offer benefit plans that are highly competitive in each of the countries in which we operate. Plans are benchmarked frequently to ensure that compensation and salary levels remain competitive and allow us to attract and retain quality employees in each region. Offerings include defined benefit and defined contribution pension plans that cover certain regular employees as well as two supplemental plans that cover certain executives. We also provide medical, dental and life insurance plans for U.S. retirees and retirees from certain non-U.S. subsidiaries.
In 2011, Lexmark engaged Horizons Workforce Consulting to evaluate how we can better support the needs of our employees and their families. A short employee survey was an essential part of this process. Our employees’ input provided insight into how we can help add balance to their busy lives and make Lexmark an even better place to work.
Part-time employees in the U.S. are eligible for the same benefits (on a pro-rated basis) as full-time regular employees. They have access to the same health-care plans and pay the same rates as regular full-time employees. In addition to traditional benefit plans, Lexmark offers three days of paid Volunteer Time Off to allow employees to contribute to their communities without taking vacation time or time off without pay. Additional information regarding our benefits obligations can be found in our Annual Report on Form 10-K.
Lexmark employees may receive the following benefits.
(Benefits vary by location.)
Time Away From Work
Employee Bonus Program
Employee Referral Programs
Lexmark Incentive Program
Healthcare and Childcare Flexible Spending Accounts
Employer Retirement Contributions
Allowances (meal, rice, transportation, laundry and medical)
Health Savings Account
Financial Planning Tools
Special Leave (Marriage/Bereavement/Compassionate)
Paid Sick Days
Paid Maternity/Paternity Leave
Modified Working Schedules for Nursing Mothers
Flex Time Program
Work/Life Support Program
Childcare in Close Proximity to Lexmark Facilities
Travel Assistance Programs
Marriage, Birth, Condolence Recognition
Onsite Childcare (coming 2012/2013)
Accidental Death and Dismemberment (AD&D) Insurance
Short- and Long-Term Disability Insurance
Employee Assistance Program
Onsite Health Clinics
Onsite Wellness Facility (coming 2012/2013)
Recognizing that adequate housing and proper healthcare are vital human needs, Lexmark endeavors to provide its employees access to these two basic necessities. At corporate headquarters in Lexington, Kentucky, we maintain a free allergy clinic for employees who need regular shots and a travel clinic that allows employees who are traveling to stay current on required immunizations. This service allows employees the convenience of onsite care and improves productivity.
U.S. employees also have access to an online wellness program that allows them to track their health-risk factors, receive online education on health issues and provides a secure site for the storage of personal health records. In addition, Lexmark's Employee Assistance Program (EAP) makes professional counseling available for employees and family members on a wide range of personal problems, including substance abuse and marital issues.
Lexmark sponsors a weight-loss program for its employees. In one special program, teams of two to four were eligible to participate. Each member of the team with the highest total percentage lost will receive a $250 voucher toward the purchase of a gym membership or home fitness equipment.
A Lexmark seminar for students and parents on drug prevention
Lexmark offers its employees a wide range of training, educational materials and preventative measures including appropriate tools in the workplace for prevention of serious diseases. For example, during H1N1 outbreaks, employees were offered hand sanitizer and masks, and were encouraged to stay home when they were ill. Lexmark does not have workers who are involved in occupational activities which have a high incidence of high risk of specific diseases.
Employees are trained on ergonomic issues related to their jobs, receive guidance on injury prevention and are offered a variety of preventative equipment such as chairs and other workstation equipment to prevent injury. Employees can receive physical therapy as needed.
Prior to international travel, employees have access to free vaccinations at the company's travel clinic. They can also obtain a travel kit that includes antibiotics, antidiarrheal medicines and pain relief medicines. A medical and emergency assistance program designed to serve the needs of employees while working internationally is also available.
In Juárez, Mexico, and Cebu, Philippines, employees have use of onsite medical care to help ensure that they and their families have access to modern facilities as well as health and wellness education. Also, in Juárez, employees receive free screening for various illnesses, preventative vaccines and eye exams. In the U.S., employees can choose to receive full medical, dental and vision insurance for themselves and their families. In China, employees are eligible for medical insurance, medical reimbursement for children, an annual routine health checkup, personal accident insurance, household property insurance, social pension insurance, a welfare fund and a housing fund. Also in China, where housing costs are high and availability is low, Lexmark offers some benefits related to living facilities. Utilizing these benefits is not mandatory, but it is available for those employees who wish to take advantage of this service. Lexmark also offers programs such as education assistance, flexible scheduling and paid time off for volunteer activities. In compliance with the Trade Agreements Act of 1979, Lexmark assembles TAA compliant products at it's configuration and distribution center in Southaven, MS.
In September 2009, Lexmark received the When Work Works, Alfred P. Sloan Award for Excellence in Workplace Flexibility. Lexmark’s flexible work/life balance programs enhance operational efficiency, promote business goals and enrich the quality of life for employees. The Lexmark Telecommuting Program allows U.S. employees who receive approval from their manager to work from an alternate workplace. The Lexmark regular part-time program allows U.S. full-time employees to work a reduced schedule, with a minimum schedule of 20 hours per week. Lexmark also offers a paid Volunteer Time Off Program to encourage employees to participate actively in the life of their communities by volunteering their time, talents and resources. Full-time employees qualify for up to 24 hours of volunteer time off per calendar year. Part-time employees qualify for up to 12 hours per calendar year.