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 2016, we contributed $33.5 million to our defined contribution benefit plans and paid $25.7 million to our defined benefit plans. We continue to maintain these plans on a fully-funded basis.
Wellness Our Way
We encourage and empower our employees to make healthy lifestyle choices. Our Wellness Our Way companywide health 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 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 or ethnicity 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 2016, we distributed $17.5 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.