Industry: Service Sector: Financial Services Location: Indiana, Pa. Website: www.stbank.com
Winning Years: 2013, 2011, 2009
Highlights of 2013 Winning Strategies
S&T Bank employees participating in the Wellness Rewards Program have the opportunity to earn funds for their Health Reimbursement Account (HRA). Points (which convert into dollars) are earned by completing wellness-related activities focusing on lifestyle improvement, condition management and preventive care. Employees earn points by getting a flu shot, having a BMI or biometric screening, attending the organization's Health Fair, getting a physical exam, completing a walkathon/race, or getting personal nutrition coaching.
Additional Policies and Practices
- Workplace Culture/Continued Opportunities: S&T Bank employees are offered the following learning and development programs: tuition reimbursement, in-house classroom training, online training, certification classes and reimbursement of professional membership dues. Employees must work 20-plus hours per week to qualify for the tuition reimbursement benefit. In a recent 12-month period, 100 percent of employees participated in at least one of the training opportunities with an average of 22 hours spent in training. Long-service anniversaries are celebrated with announcements, parties, gifts and awards. Since longer-tenured employees requested additional recognition for their commitment to S&T Bank, the organization now hosts Employee Recognition Breakfasts for employees with 15-plus years of service. Longer-tenured employees are given personal recognition at the event. Another improvement made pertains to the prepaid vacation policy. All employees can now prepurchase up to three additional vacation days annually. Employees have opportunities to gain new experiences by working on temporary assignments in other departments, on team projects and by participating in formal job rotation and mentoring programs. S&T Bank offers modified work schedules and job redesigns to employees needing workplace accommodations.
- Benefits/Health: Employees working 15-plus hours per week receive individual and family medical coverage, individual and family prescription drug coverage, and individual vision insurance coverage. Family vision insurance, individual and family dental insurance, and short- and long-term disability are offered to employees working 30-plus hours per week. Flexible spending accounts (FSAs) and an employer-funded health reimbursement account (HRA) 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 or counseling, health club discounts, as well as physical activity and weight loss programs. Ninety-nine percent of S&T Bank employees utilized at least one of these wellness benefits during a recent 12-month period. EAP services are available to full- and part-time employees as well as their family members.
- Benefits/Financial: Full- and part-time employees are offered a 401(k) plan with employer match. All new hires are automatically enrolled in the plan, and employees age 50-plus can make catch-up contributions to their plan. Staff members provide financial information and training to employees. Retirement planning assistance is offered to employees and spouses through the bank’s Wealth Management Advisor. S&T Bank’s Four Star Checking Account, for employees age 50-plus, offers reduced fees for financial services. Employees are offered short- and long-term leaves of absence without pay for caregiving needs. S&T Bank offers referral services to assist with child care, grandchild care and eldercare to all employees.
- Benefits/Alternative Work Arrangements: Employees can participate in alternative work arrangements such as flextime, compressed work schedules, job sharing and telecommuting. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
- Opportunities for Retirees: S&T Bank has 370 retirees. The organization stays connected with its retirees by communicating on a regular basis, inviting retirees to organization events, providing retirees with ongoing access to retirement planning workshops and information and by formally acknowledging employees on their retirement. Retirees can work for S&T Bank in part-time or temporary positions, and by doing consulting or contract work.
- Age of Workforce: Forty-one percent of S&T Bank employees are age 50-plus. The average tenure of employees age 50-plus is 13.4 years.
Also of Interest: More AARP Best Employers for Workers Over 50