Industry: Serivce Sector: Consulting Services Location: Muscatine, Iowa Website: www.stanleyconsultants.com
Winning Years: 2013, 2011, 2009, 2008, 2007, 2006, 2005, 2004, 2002
Highlights of 2013 Winning Strategies
Stanley Consultants employees approaching retirement can participate in the company’s "open-ended" phased retirement program. Employees customize their plan to meet their individual work/life needs with nearly 75 percent of the company’s new retirees participating in the program during the first two years of retirement. Retirees receive access to a 24/7 nurse hotline, an online Personal Health Assessment (PHA), a disease management program, and are given a monetary wellness incentive for having an annual physical exam and PHA.
Additional Policies and Practices
- Recruiting: Stanley Consultants hires mature workers from its clients’ pool of retirees.
- Workplace Culture/Continued Opportunities: Employees working 20-plus hours per week can participate in certification classes, receive tuition reimbursement and receive reimbursement for professional membership dues. In-house classroom training and online training are offered to all employees. In a recent 12-month period, 93 percent of employees participated in at least one of the training opportunities with an average of two hours spent in training. Long-service anniversaries are celebrated with announcements, parties and awards. Feedback gained from the company’s member survey resulted in the expansion of and enhanced publication of training opportunities; more targeted financial retirement training; the expansion of audio visual and on-line training for more flexible training sessions; the addition of a new vision benefit available to all employees; the implementation of a wellness incentive plan that provides employees with a monetary incentive to participate in wellness activities; increased company coverage for dependents on the health, vision, and dental plan; and compressed work weeks are now offered. 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. Stanley Consultants provides employees with elevated work stations, ergonomically friendly chairs, split keyboard trays, wrist supports, mouse pads with special supports and ergonomic foot rests.
- Benefits/Health: Employees working 20-plus hours per week receive individual and family medical coverage, individual and family prescription drug coverage, individual and family vision and dental insurance, and short- and long-term disability. Health benefits for retirees pre-65 include individual and spouse medical and prescription drug coverage, individual and spouse vision and dental insurance, as well as the services of an Employee Assistance Program (EAP). Retirees age 65-plus receive individual and spouse medical coverage. New hires are eligible for all of the above benefits upon retirement. Flexible spending accounts (FSAs) are available to assist in covering out-of-pocket health care costs. Employees experiencing financial hardship can receive financial assistance from the Member Charity Fund, which is employee funded through donations. Full- and part-time employees enjoy wellness benefits such as flu shots, health screenings, health risk appraisals, smoking cessation programs, as well as physical activity and weight loss programs. Fifty-one percent of Stanley Consultants employees utilized at least one of these wellness-related benefits in a recent 12-month period. EAP services are available to full- and part-time employees as well as their family members.
- Benefits/Financial: Employees working 20-plus hours per week are offered a 401(k) plan with employer match, 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 the staff of the financial services firm that administers their plan. Short- and long-term leaves of absence without pay are offered to allow for caregiving. Employees in need of time off can borrow from the "Time Off" bank, which is funded by employees donating vacation time. Referral services to assist with child care, grandchild care and eldercare are dependent care services available to all employees.
- Benefits/Alternative Work Arrangements: Alternative work arrangements such as flextime, a formal phased retirement program and compressed work schedules are offered to employees. Employees must work full time (40 hours per week) to be eligible to participate in compressed work schedules. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
- Opportunities for Retirees: Stanley Consultants has 151 retirees and an individual directly responsible for retiree relations. The company stays connected with its retirees by communicating on a regular basis, inviting retirees to organization events and by formally acknowledging employees upon their retirement. Temporary work assignments, consulting/contract work, telecommuting, as well as part-time work are all employment opportunities offered to retirees.
- Age of Workforce: Forty-two percent of Stanley Consultants employees are age 50-plus. The average tenure of employees age 50-plus is 13.2 years.
Also of Interest: More AARP Best Employers for Workers Over 50