• Recruitment
• Workforce Trends

• Retention Strategies
• Workplace Law

• Benefits
• Best Employers Program

Michelin North America

Winning Years: 2007, 2005
Industry: Rubber/Glass/Stone and Plastics Products
Location: Greenville, SC
URL: www.michelin-us.com

Highlights of 2007 Winning Strategies

Michelin North America established a program to bring retired employees back to work to meet business needs and provide part-time or short-term work opportunities for retirees to ease their transition into full-time retirement. Participants must be retired for at least 3 months, be at least 55 years old, and have at least 10 years of pension eligibility. Those working at least 1,040 hours/year qualify for benefits and receive a full-year credit toward future retirement calculations.

Additional Policies and Practices:

• Recruiting: Michelin targets mature workers and retirees at military career fairs and via the Michelin Retiree website.
• Workplace Culture/Continued Opportunities: Michelin offers these learning and development programs exclusively to full-time employees: tuition reimbursement, in-house classroom training, on-line training, and certification classes. In the past 12 months, 10% of Michelin employees participated in at least one of these training opportunities with an average of 40 hours spent in training. The company's website, "Passport to Development," lists classroom and computer-based courses and tools to help develop general, managerial, and functional skills. Due to feedback from the employee relations survey, Michelin made changes to increase the flexibility of work schedules, a part-time work policy for retirees was implemented, and the telecommuting policy was enhanced. Employees are offered opportunities to gain new skills by working on temporary assignments in other departments and on team projects and by having access to formal job rotations.
• Benefits/Health: Full- and part-time employees (working at least 35 hrs/week) receive individual and family medical coverage and individual and family prescription drug coverage. Full-time employees (working at least 40 hrs/week) also receive individual and family vision and dental insurance and short- and long-term disability. Health benefits for retirees pre-65 and 65+ include individual medical and prescription drug coverage and EAP services. New hires are eligible for the EAP services benefit upon retirement. Michelin offers an FSA plan to assist employees with out-of-pocket health care costs.
• Benefits/Financial: To its full- and part-time employees, Michelin offers a 401(k) plan (with company match) and a money-purchase defined contribution plan. Stock options are offered exclusively to full-time employees. All new hires may automatically enroll in the plan, and employees age 50+ can make catch-up contributions. Employees receive financial planning information from staff members, the firm that administers their 401(k), planning experts not associated with the 401(k), and an internet-based financial engines program, which acts as an on-line consulting service. Michelin offers short-term time off without pay and long-term leaves of absence without pay to allow for caregiving. These wellness programs are offered to full- and part-time employees: flu shots, health screenings, health risk appraisals, smoking cessation programs, health club discounts, physical activity/exercise programs, weight loss programs, stress management training, and health fairs at local facilities. Twenty-seven percent of Michelin employees have utilized at least one of these wellness benefits in the past 12 months. Dependent care benefits such as referral services to assist with childcare/care for grandchildren/eldercare are offered to full- and part-time employees.
• Benefits/Alternative Work Arrangements: Michelin offers these alternative work arrangements to its full- and part-time employees: flex-time, job sharing, telecommuting, and a formal phased retirement program. Full-time employees are eligible to move to part-time work on a permanent and temporary basis.
• Opportunities for Retirees: Michelin currently has 4,652 retirees. The company stays connected with its retirees by communicating regularly, inviting retirees to organization events/celebrations, and formally acknowledging them when they retire. The company has a website specifically dedicated to retirees where they can find the latest benefit information and company news. Retirees are offered temporary work assignments, consulting/contract work, full-time work, and part-time work.
• Age of Workforce: Thirty-seven percent of Michelin employees are 50+. The average tenure of employees age 50+ is 25.1 years.