Magna Electric Corporation

Magna Electric's physical workplace is rated as above-average. Located in an industrial area of Saskatoon, the head office location offer convenient highway access and is close to the city's airport. In addition to head office activities, the location is also home to a large electrical transformer refurbishing facility -- the company operates the only two such facilities in the province. Inside, all employees can take advantage of an onsite fitness facility (with free membership, treadmills, stationary bikes, weights, shower facilities, a running club and instructor-led classes such as yoga and boot-camp); employee lounge (with comfortable seating, music, television, and board games), free coffee and tea, an outdoor barbeque and self-serve lunchroom (with fresh fruit and Tim Hortons muffins, bagels and other baked goods, with money raised donated to the employee social club); secure bicycle parking; free parking.

Magna Electric's work atmosphere is rated as exceptional. On the job, employees enjoy business casual dress; casual dress daily; casual dress Fridays; can listen to music while working; employee sports teams; organized social events. The employee social committee (call the MEC Social Committee) organizes a number of fun company-paid social events throughout the year, including an evening Christmas party, family events in the summer, team building events (ranging from fishing trips to spa days), an annual curling bonspiel, pizza lunches, and monthly birthday celebrations for all employees. Company newsletter; corporate intranet site; traditional suggestion box; email suggestion box.

Magna Electric's financial benefits are rated as very good. To keep salaries competitive the company participates in outside salary surveys every 12 months. Individual salaries are reviewed every 12 months. Along with ensuring competitive compensation levels, the company offers signing bonuses for some employees; new employee referral bonuses (to $1,000 for some positions); year-end bonuses for all employees; year-end bonuses (to $35,000); matching RSP contributions (up to 5% of salary); life & disability insurance; retirement planning assistance; generous travel allowances for travelling employees, tool and footwear allowance for construction and technical employees, annual clothing voucher (to $200).

Magna Electric's health and family benefits are rated as very good. The company's health plan is administered by Sun Life Financial. As part of the health plan, the employer pays 100% of the premiums. Employees who work 20 hours per week receive coverage. The waiting period for new employees is 90 days. Employees receive full family coverage on the health benefits plan. The basic plan includes routine dental; restorative dental; orthodontics; eyecare ($200 every 2 years); traditional medicine coverage; alternative medicine coverage; massage therapy; medical equipment and supplies; homecare; employee assistance (EAP) plan; travel insurance; healthclub subsidy (to $150 each year). Magna Electric's family friendly benefits include; fertility treatments; maternity top-up payments (to 85% of salary for 4 weeks); parental leave top-up for new fathers (to 85% of salary for 4 weeks); parental leave top-up for adoptive parents (to 85% of salary for 4 weeks); health benefits during maternity and parental leave; extended unpaid parental leave option (beyond the first year); post-secondary academic scholarships for children of employees; compassionate top-up payment (to 85% of salary for 4 weeks) while caring for a family member; flexible working hours; telecommuting; shortened work week (fewer hours with less pay); reduced summer hours program; compressed work week; phased-in retirement work options.

Magna Electric'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 7 years on the job. Long-serving employees receive a maximum of 5 weeks of vacation each year. During the Christmas to New Year's holiday break, employees receive an additional 3 days off. Employees receive 5 paid sick days every year. Employees can also apply for an unpaid leave of absence.

Magna Electric's employee engagement program is rated as very good. Employees receive individual performance reviews every 12 months. Managers receive training in how to conduct effective performance reviews. Performance feedback is also solicited from co-workers and other managers familiar with each employee's work. As part of the review process employees can provide confidential feedback on their manager's performance. Exit interview provided for departing employees. In a unique approach, the company sponsors an employee committee that is responsible for recognizing employee for their contributions to the business. Along with the recognition of their peers, winning employees also may receive monetary and non-monetary awards and those employees who consistently go above and beyond the call of duty also receive year-end bonuses. The company also recognizes is long serving employees with monetary and non-monetary awards the every fifth anniversary of their employment. Magna Electric sponsors its own in-house employee satisfaction survey. (Surveys are conducted every 12 months).

Magna Electric's training and skills development program is rated as exceptional. Employees receive tuition subsidies for courses related to their position. (Employers cover up to 100% of tuition). Employees may also receive tuition subsidies for courses unrelated to their current position. (Employers cover up to 100% of non-related tuition). In addition to generous tuition subsidies, Magna Electric also encourages ongoing employee development with subsidies for professional accreditations; in-house apprenticeship and skilled trades programs; in-house training programs; online training programs; formal mentoring program; career planning services; new employee orientation program; formal mangement training program; and generous financial bonuses for certain course completions (from $2,000 to $5,000).

Magna Electric's community involvement program is rated as above-average. Every year, the company supports a variety of local and national 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, employees donated over 280 hours volunteering with charitable projects. Approximately 34 charitable and community organizations were supported last year. Last year, the company and its employees focus their support on the Children's Wish Foundation and the United Way campaign. In support of the Children's Wish Foundation, the company sponsored the "Swing and Wish" golf tournament and employees hosted fundraising raffles in support during the year. In addition, employees also raised money for The Heart and Stroke Foundation, Cardiac Care Unit of Regina General Hospital, and participated in "Bridge City Boogie", which is a local Saskatoon fundraising initiative that raises money for a variety of local initiatives.