Chosen as one of Canada's Top 100 Employers, Alberta's Top Employers and Canada's Top Family-Friendly Employers for 2010:
By Richard Yerema and Rachel Caballero, Mediacorp Canada Inc. staff editors (Nov 2, 2009)
Some of the reasons why AFSC was selected as one of Canada's Top 100 Employers for 2010:
provides parental leave top-up benefits to new mothers (to 95% of salary for 17 weeks)
pays employees referral bonuses (to $2500) when someone they recommend is hired by the company
encourages ongoing employee skills development by subsidizing tuition fees for courses at outside institutions
supports flexible work arrangements, such as shortened work weeks, reduced summer hours and telecommuting
Employer Background
Agriculture Financial Services Corporation (AFSC) is a Crown corporation offering crop insurance, farm lending, commercial lending and farm income disaster assistance to agrifood producers in Alberta.
Established in 1938, as an insurer against devastating crop losses from hail, the company today offers Alberta's farms and businesses a complete range of insurance, lending and income stabilization products from over 50 offices across the province.
Industry:All Other Nondepository Credit Intermediation. Established: 1938. Parent Company: Alberta Hail Board. Revenues: $1,290 million. Full-Time Employees in Canada: 501. Part-Time employees in Canada: 211. Voluntary employee turnover last year: 6%. Longest serving employee: 40 years. Number of applications received at this location last year: 1,116. Percentage of employees who are women: 53%. Of managers: 36%. Average age of all employees: 46.
Rating: B+Physical Workplace
AFSC's physical workplace is rated as very good. The Crown corporation's head office is located in the historic town of Lacombe, which is located roughly halfway between Calgary and Edmonton. The head office is located in a modern glass and brick building that is surrounded by trees and professionally landscaped gardens. Inside, the head office features an employee lounge (with comfortable seating, massage chairs, fireplace, music, television, board games and personal internet kiosks); kitchen areas located throughout the building; free coffee and tea; religious observance room; free parking.
Rating: B+Work Atmosphere & Communications
AFSC's work atmosphere is rated as very good. On the job, employees enjoy business casual dress; can listen to music while working; employee sports teams; organized social events. Every year the company's social committee (called the Fit and Fun Club) hosts an annual Christmas party as well as arranging for cards, flowers and gifts for significant events in employees' lives. The company also hosts a long service celebration to recognize its long-serving employees. AFSC captures feedback and keeps employees up-to-date about new company developments through a company newsletter; corporate intranet site; email suggestion box.
Rating: AFinancial Benefits & Compensation
AFSC's financial benefits are rated as above-average. To keep salaries competitive the company participates in outside salary surveys every 12 months. Individual salaries are reviewed every 24 months. In addition to competitive compensation, the Crown corporation offers new employee referral bonuses (to $2,500 for some positions); year-end bonuses for all employees; defined benefit pension with employer contribution (up to 6.69% of salary); life & disability insurance; retirement planning assistance.
Rating: B+Health & Family-Friendly Benefits
AFSC's health and family benefits are rated as very good. The company's health benefits plan is managed by the Standard Life Insurance Company. As part of the health plan, the employer pays 80% of the premiums. There is no waiting period before coverage begins. Employees receive full family coverage on the health benefits plan. The basic plan includes routine dental; restorative dental; orthodontics; eyecare ($350 every 2 years); traditional medicine coverage; alternative medicine coverage; massage therapy; medical equipment and supplies; homecare; employee assistance (EAP) plan; travel insurance; healthclub subsidy ($500 each year). AFSC's family friendly benefits include; maternity top-up payments (to 95% of salary for 17 weeks); parental leave top-up for adoptive parents (to 95% of salary for 12 weeks); flexible working hours; shortened work week (fewer hours with less pay); compressed work week; earned days off (EDO) program; phased-in retirement.
Rating: BVacation & Personal Time-Off
AFSC's vacation and personal time-off are rated as average. New employees receive 3 weeks of vacation allowance after their first year. Vacation increases after 8 years on the job. Long-serving employees receive a maximum of 6 weeks of vacation each year. Employees can schedule 2 personal days off each year, as needed. During the Christmas to New Year's holiday break, employees receive an additional 1 day off. Employees receive 10 paid sick days every year. Employees can also apply for an unpaid leave of absence. Employees can also receive paid days off (up to 12) for community service, special leave and military leaves of absence. (Employees' paid vacation entitlements increase by one day every two years on the job, to a maximum of 30 days.
Rating: BEmployee Engagement
AFSC's employee engagement program is rated as average. Employees receive individual performance reviews every 12 months. Managers receive training in how to conduct effective performance reviews. The AFSC boasts an impressive compliance record with respect to actually conducting employee reviews, with a 100% of employees receiving reviews in each of the last three consecutive years. The company rewards exceptional work performance with annual salary increases, over and above an annual cost-of-living increase. Depending upon the year's performance, employees may also receive an annual bonuse payment that is also linked directly to on-the-job performance (ranging from 5% to 12% of salary).
Rating: ATraining & Skills Development
AFSC's training and skills development program is rated as above-average. Employees receive tuition subsidies for courses related to their position. (The employer subsidizes up to 100% of tuition). Employees may also receive tuition subsidies for courses unrelated to their current position. (The employer subsidizes up to 50% of non-related tuition). In addition to tuition subsidies, employees may also recieve subsidies for professional accreditations; in-house training programs; career planning services; new employee orientation program; formal mangement training program.
Rating: ACommunity Involvement
AFSC's community involvement program is rated as above-average. Every years the company and its employees support a number of local, national and international charitable initiatives. Employees take part in the selection of charitable groups assisted each year. Employees receive paid time off to volunteer with their favourite charitable organizations. Employees also receive 1 paid day off to volunteer. Last year, the AFSC and its employees supported Big Brothers and Big Sisters (with employees volunteering to help struggling students in school), volunteer in classrooms across the province to teach students about the importance of agriculture, and the Salvation Army at Christmas (sponsoring families in need and providing food for a month, gifts at Christmas and gift certificates for the holidays). The company is also a strong supporter of the Canadian Foodgrains Bank (CFB), which supplies food to people in developing countries as well as advocates in public policy development and educational activities related to hunger and food supply security.
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