Industry: Industrial Sector: Rubber/Glass/Stone and Plastic Location: Greenville, S.C. Website: www.michelin-us.com
Winning Years: 2013, 2011, 2009, 2008, 2007, 2005
Highlights of 2013 Winning Strategies
The Michelin Family Health Center, located at Michelin’s headquarters in Greenville, S.C., and two other locations, provides convenient and affordable health care to all employees. Retirees, employee spouses and domestic partners, and dependents over age 2 covered under the Michelin medical plan are also eligible for care at the health center. The health center provides discounted health care and free lab services. Michelin developed an online website designed specifically for Michelin retirees to stay in touch with the company and fellow retirees.
Additional Policies and Practices
- Recruiting: The Michelin retiree forum contains information on over 1,400 retirees and members who can indicate their interest in employment opportunities. Personnel managers follow up when positions are available.
- Workplace Culture/Continued Opportunities: Learning and development programs such as tuition reimbursement, certification classes and reimbursement for professional membership dues are offered to full-time employees working 40 hours per week. In-house classroom training and online training is offered to employees working 20-plus hours per week. In a recent 12-month period, 40 percent of employees participated in at least one of the training opportunities with an average of 78 hours spent in training. Long-service anniversaries are celebrated with announcements, parties, gifts, awards and free tires. Employees have opportunities to gain new experiences by working on temporary assignments in other departments, on team projects, and by having access to formal job rotation and mentoring programs. Michelin provides standing and movable work stations for employees needing these ergonomic accommodations.
- Benefits/Health: Employees working 20-plus hours per week receive individual and family medical coverage, as well as individual and family prescription drug coverage. Individual and family vision and dental insurance, as well as short- and long-term disability are offered to full-time employees working 40 hours per week. Employees working 30-plus hours per week receive individual and family long-term care insurance. Health benefits for retirees pre-65 and those age 65-plus include individual and spouse medical and prescription drug coverage, individual and spouse vision and dental coverage, individual and spouse long-term care insurance, Employee Assistance Program (EAP) services, and individual and spouse life insurance or other death benefit coverage. New hires pre-65 are eligible for all of the above benefits upon retirement. New hires age 65-plus are eligible for all of the above benefits upon retirement excluding the EAP services benefit and spouse life insurance coverage. Catastrophic medical and prescription drug coverage is also offered to retirees at no cost once the annual out-of-pocket limit is reached. Health Reimbursement Accounts (HRAs) are available to assist in covering out-of-pocket health care costs. Full- and part-time employees are offered flu shots, health screenings, health risk appraisals, smoking cessation programs, health club discounts, physical activity and weight loss programs, a Conditions Management Program to help manage chronic conditions, and stress management training. Fifty-five percent of Michelin employees have utilized at least one of these wellness benefits during a recent 12-month period. EAP services are available to full-time employees as well as their family members.
- Benefits/Financial: Michelin employees working 20-plus hours per week are offered a 401(k) plan with employer match, a money-purchase defined contribution plan, as well as stock options, profit sharing or a similar plan. All new hires are automatically enrolled in the plan, employees age 50-plus can make catch-up contributions to their plan, and plan participants may choose to invest in lifecycle funds that automatically reallocate assets based on age or proximity to retirement. Employees are offered financial education from staff members and from external financial planning experts. Michelin offers full-day preretirement seminars to employees and their spouses, and personal retirement planning sessions are offered through Michelin’s Personnel Service Center. Short- and long-term leaves of absence without pay are offered to allow for caregiving. Referral services to assist with child care and eldercare are available to full-time employees working 40 hours per week.
- Benefits/Alternative Work Arrangements: The following alternative work arrangements are offered to employees working 20-plus hours per week: flextime, compressed work schedules, job sharing, telecommuting and a formal phased retirement program. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
- Opportunities for Retirees: Michelin has 19,636 retirees. The company stays connected with its retirees by communicating on a regular basis, providing retirees with ongoing access to retirement planning workshops and information, and by formally acknowledging employees upon their retirement. Retirees are offered the following employment opportunities: temporary work assignments, consulting or contract work, telecommuting, as well as full- and part-time work.
- Age of Workforce: Thirty-seven percent of Michelin employees are age 50-plus. The average tenure of employees age 50-plus is 23.5 years.
Also of Interest: More AARP Best Employers for Workers Over 50