Benefits & Compensation
Lexmark and our subsidiaries around the world offer benefit plans that are very competitive in each of the countries in which we operate. Plans are benchmarked frequently to ensure that compensation and salary levels remain competitive, enabling us to attract and retain quality employees in each region.
Lexmark is continually evaluating how we can better support the needs of our employees and their families. Our employees’ feedback gives us 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 United States are eligible for the same benefits (some on a prorated basis) as full-time regular employees. In addition to traditional benefits, volunteer time off is available to most employees globally.
Lexmark’s competitive benefits program provides employees with the opportunity to ensure the wellness of their families, and create a positive working environment. Every geography provides for variable health coverage, time off, retirement savings* and more in compliance with local laws and regulations. Benefit packages are available to full-time and part-time employees based on the location.
Typical benefits are:
- Health insurance
- Life and accident insurance
- Dental and vision Insurance (at most locations)
- Disability insurance
- Paid vacations and holidays
- Product discounts
- Tuition assistance in many locations
- Parental time off
- Employee profit sharing (in geographies where it is mandated by law)
- Retirement savings plan with a company contribution
*For information on Lexmark’s defined retirement plan, please see the Lexmark Form 10-K.
Lexmark is focused on employees living a healthy work-life balance. Flexible work hours for most jobs allow employees to enjoy their lives and take care of personal business while optimizing work performance and productivity. In 2015, Lexmark received the When Work Works Award for Excellence in Workplace Flexibility for the eighth consecutive year. Across the globe, Lexmark supports employee family life and offers paid parental time off options to both women and men in addition to flextime, which continues to aid new parents. Flexible schedules, accommodating Mothers Rooms, the option to work remotely and on-site or nearby child-care let parents have positive work experiences. Lexmark does not track return rates or employee retention after their return.
Healthcare is also a priority at Lexmark. Each geography strives to find ways to help employees succeed at being the healthiest that they can be. The locations in Cebu, Philippines; Juarez, Mexico; Lexington, Kentucky; Lenexa, Kansas and Shenzen, China have onsite medical facilities where employees can get healthcare exams conveniently during the workday. Many facilities offer their employees recreational areas or sports leagues where they can participate in friendly challenges and competitions that promote health and fitness.
Salaries vary at Lexmark, depending upon the location of employment, education level, job function and a number of other factors. Lexmark is committed to equal pay for work of equal value. This commitment includes equal remuneration for male and female workers. In support of this commitment, we contract third-party agencies to conduct remuneration studies, and we conduct other studies internally. For example, in the United States a third party performs an analysis to ensure pay equity based on demographics. Lexmark's programs are designed to uphold its commitment to equal pay for equal work through promotion of educational and career advancement opportunities and salary adjustments.
Lexmark’s Living the Vision Program is comprised of three tiers. At tier 1, the Vision Achievement Award is peer- or manager-initiated through our worldwide internal collaboration website. This recognition is quick and easy to initiate, and is visible worldwide on our site. Each quarter, one of these award winners is selected by the Living the Vision Program manager to receive an additional bonus. At tier 2, the Vision Champion Award is initiated by manager nomination. The Program subcommittee reviews the nominations and selects one winner for each geography per quarter. The tier 3 Customer for Life Award is Lexmark’s highest employee honor. Selected from among the tier 2 winners, it is awarded annually.
In the U.S., an unlimited vacation policy has been in place since 2013, allowing employees to take time off when needed. This empowers employees to make decisions that are best for themselves, their families and the company. Employees have open communication with their management and the time is not tracked. There is no accrued vacation time based on years of service; it is simply unlimited. This applies to all U. S. employees other than California employees, who continue under the current California Vacation Program due to considerations under California state law.
In the U.S., Health, Dental and Vision Benefits are offered to employees, their spouses, domestic partners and dependents. Lexmark offers transgender benefits as well as support and guidelines for transitioning employees. Flexible spending accounts for both health care and childcare are available. Assistance for adoption is provided. In 2015, Geriatric Care Management Services were added to the U.S. benefits. Elder care support is available through the Employee Assistance Program. Lexmark offers a backup care program for children, teens, adults and employees recovering from an illness or injury. Backup care is subsidized for up to 15 days per year.
The Lexington, Kentucky, and Lenexa, Kansas, locations have a health and wellness center for their employees. These centers offer health coaching, allergy injection programs, physical therapy, and wellness and sick visits. An interactive Live Well tool is also available for employees and their spouses or domestic partners providing a method of joining challenges and tracking fitness activities to promote physical, mental and financial wellness. This program includes incentive dollars when employees meet their health, wellness and sustainability goals. In addition, Lenexa and Lexington both have sports courts for their employees and offer group exercise classes.
The headquarters site in Lexington, KY has a subsidized childcare center on-site in a Leadership in Energy & Environmental Design (LEED) gold certified facility. The environmentally beneficial features that earned the LEED Gold certification are used as an educational experience for the children. The children learn about water and energy conservation, local harvest and material re-use and recycling.