Our Benefits Package
Full-time employees at all U.S. locations are eligible for disability coverage, life insurance, health care, confidential counseling, retirement programs and education assistance. Part-time and seasonal employees may be eligible for benefits based on the hours they work and their length of service.
Hormel Foods employees are eligible for a retirement savings plan that includes company contributions. In fiscal year 2019, we contributed $43 million to our defined contribution benefit plans. We continue to maintain these plans on a fully-funded basis.
We encourage and empower our employees to make healthy lifestyle choices. Our Inspired Health companywide initiative includes on-site fitness centers and fitness center discounts, wellness challenges, and confidential health and wellness support 24 hours a day, seven days a week.
Our goal is to attract, retain, motivate and reward high-performing individuals. We strive to be the employer of choice in all areas where we have locations by providing a fair living wage and comprehensive benefits package to meet the needs of team members and their families. We follow all established minimum wage requirements; however, minimum wages are generally not relevant as most of our entry-level positions at our office locations and production facilities require a higher level of skills or knowledge than jobs in which the minimum wage would apply. We review compensation at least annually to ensure it is equitable. We offer merit-based pay increases based on a formal performance management process and use a well-established process that is blind to race, gender, ethnicity or ability for determining related pay changes.
We return a portion of our profit back to employees, either as a cash payment or a contribution to our Joint Earning Profit Sharing Trust Plan. In fiscal year 2018, we distributed $17.9 million to eligible employees.
We look for ways to help employees find a healthy, happy work-life balance. This includes flex-time, alternative work schedules, part-time positions, telecommuting, a summer-hours program and flexible leave options following a child’s birth, adoption or placement in foster care.