Medtronic of Canada employees at pancake breakfast fundraiser
Chosen as one of Canada's Top 100 Employers and Greater Toronto's Top Employers for 2013:
By Richard Yerema and Kristina Leung, Mediacorp Canada Inc. staff editors
(Oct 9, 2012)
Some of the reasons why Medtronic
was selected as one of Canada's Top 100 Employers for 2013
- supports employees who are new mothers, fathers, or adoptive parents with maternity and parental leave top-up payments (to 90% of salary for 17 weeks) as well as extended health benefit coverage during their leave
- the company's new LEED certified head office features many environmentally-friendly features, including a non-toxic VOC-free interior, photo-cell daylight harvesting system and a relective 'white' roof to help reduce air-conditioning needs -- the head also features fully-equipped fitness facility as well as a lounge complete with a pool table, video games and table hockey
- encourages ongoing employee development with generous tuition subsidies (to $6,000) for courses taken at outside institutions and manages an academic scholarship program for employees' children
- also provides a variety of great in-house training options, including mentoring and unique job-shadowing programs
- offers a variety of great financial rewards including profit-sharing and share purchase plans, year-end performance bonuses, discounts on home and auto insurance and interest free loans for home computer equipment
- helps employees prepare for life after work with retirement planning assistance services, a defined contribution pension plan with employer contributions and matching RSP contributions
Medtronic of Canada Ltd., a division of Minneapolis based Medtronic, Inc., develops medical devices and provides services for individuals suffering from chronic illness.
Established in 1949, the company has grown from its humble beginnings as a medical equipment repair shop into a multinational corporation that operates in 120 countries. From its very first battery-powered pacemaker (developed in the mid 1950s and modelled after a transistorized metronome) the company has continued to innovate, using technology to transform the way debilitating, chronic diseases are treated. Today, Medtronic's six major businesses focus on a specific condition or type of therapy: Cardiac Rhythm Disease Management, Spinal and Biologics, CardioVascular, Neuromodulation, Diabetes, and Surgical Technologies.
Industry: Electromedical and Electrotherapeutic Apparatus Manufacturing.
Major Canadian hiring locations: Brampton ON, Mississauga ON, Montréal QC, Vancouver BC.
Stock symbol: MDT-N.
Revenues: $15,900 million.
Parent company: Medtronic, Inc..
Full-time at this location: 126.
Full-time employees in Canada: 437.
Full-time worldwide: 38,000.
Part-time employees in Canada: 14.
Workforce engaged on a contract basis: 5%.
Number of applications received at this location last year: 955.
Average age of all employees: 42.
Longest serving employee: 35 years.
Medtronic's physical workplace is rated as exceptional. Medtronic's new suburban head office recently received its LEED Sillver certification and boasts many environmentally-friendly features, including a non-toxic VOC-free interior, a photo-cell daylight harvesting system, and a relective 'white' roof to help reduce air-conditioning needs. The location offers convenient highway access and is within minutes of Meadowvale Sports Park, Leslie Trail Park, local fruit orchards, and the Meadowvale Community Centre. Inside, the office houses an art collection and features a museum showcasing the company's history. In addition, the building features an onsite fitness facility (with free memberships and guest passes, treadmills, stationary bikes, stairmasters, rowing machines, weights, shower facilities, towel service and instructor-led classes such as pilates and spinning); employee lounge (with comfortable seating, fireplace, music, television, books and magazines, pool table, foosball and table hockey); nap room; religious observance room; onsite cafeteria (with healthy and special diet menus and subsidized meals); secure bicycle parking; free parking; outdoor eating area and barbecue; and a multipurpose "flex room". The company also offers employees a variety of free snacks including chocolate croissants, canolis, samosas, and single serve gourmet coffee machines on every floor.
Work Atmosphere & Communications
Medtronic's work atmosphere is rated as above-average. On the job, employees enjoy business casual dress; casual dress Fridays; can listen to music while working; employee sports teams; organized social events. The company-subsidized Medtronic Social Committee, in operation since 1974, is responsible for organizes a vareity of social events every year, including summer boat cruises along the Toronto Harbourfront, live theatre outings, bowling, and Christmas parties for employees as well as a separate party for employees' children. The company captures feedback and keeps employees up-to-date through a company newsletter; corporate intranet site.
Financial Benefits & Compensation
Medtronic'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 12 months. In addition to ensuring competitive compensation rates, Medtronic provides share-purchase plan for all employees; year-end bonuses for all employees; generous year-end bonuses (to $55,798), depending on the position; defined contribution pension plan with employer contributions (up to 4% of salary); matching RSP contributions (up to 5% of salary); new employee referral bonuses (to $3,500 for some positions); life & disability insurance; subsidized home Internet access; retirement planning assistance; phased-in retirement work options.
Health & Family-Friendly Benefits
Medtronic's health and family benefits are rated as very good. Medtronic's health benefits plan is managed by Sun Life. As part of the health plan, the employer pays 100% of the premiums. Employees who work 19 hours per week receive coverage. There is no waiting period before coverage begins. Family coverage is available on the health benefits plan. The basic plan includes routine dental; restorative dental; orthodontics; eyecare ($250 every 2 years); traditional medicine coverage; alternative medicine coverage; employee assistance (EAP) plan; healthclub subsidy (to $325 each year); medical equipment and supplies; physiotherapy; massage therapy; travel insurance. Medtronic's family-friendly benefits include; maternity top-up payments (to 90% of salary for 17 weeks); parental leave top-up for new fathers (to 90% of salary for 17 weeks); parental leave top-up for adoptive parents (to 90% of salary for 17 weeks); health benefits during maternity and parental leave; extended unpaid parental leave option (beyond the first year). (Note: the maternity and parental leave benefits also include a top-up payment to 100% of salary for first 2 weeks of their leave.) Additional family-friendly benefits include; post-secondary academic scholarships for children of employees; compassionate top-up payment (to 100% of salary for 8 weeks) while caring for a family member; flexible working hours; shortened work week (fewer hours with less pay); compressed work week; telecommuting.
Vacation & Personal Time-Off
Medtronic's vacation and personal time-off are rated as very good. New employees receive 3 weeks of vacation allowance after their first year. Vacation increases after 10 years on the job. Long-serving employees receive a maximum of 7 weeks of vacation each year. During the Christmas to New Year's holiday break, employees receive an additional 3 days off. Employees can schedule 2 personal days off each year, as needed. Employees can also apply for an unpaid leave of absence. (The company maintains a flexible policy regarding sick days, allowing such to be determined on a case-by-case basis and used as needed).
Medtronic's employee engagement program is rated as exceptional. Employees receive individual performance reviews every 3 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 interviews are provided for departing employees. Medtronic recognizes exceptional performance through a variety of reward programs, including the a unique "Medtronic Moments" peer recognition program that let employees recognize their colleagues with redeemable points (for gifts) along with the chance to win an annual grand prize of a all-expenses paid trip for two, and the "Recognized Program" that makes it easy for managers to acknowledge exceptional performance and reward points for gifts, from sporting goods to travel vouchers. Medtronic sponsors its own in-house employee satisfaction survey. Medtronic hires an outside consultant to conduct confidential employee satisfaction and engagement surveys. (These surveys are held every 12 months).
Training & Skills Development
Medtronic's training and skills development program is rated as exceptional. Employees receive tuition subsidies for courses related to their position. (Employer pays up to $6,000 in subsidies). Employees may also receive tuition subsidies for courses unrelated to their current position. (Employer pays up to $6,000 in tuition subsidies). In addition to tuition subsidies, Medtronic offers subsidies for professional accreditations; formal mentoring program; career planning services; in-house training programs; online training programs; online employee skills inventory; new employee orientation program; formal management training program; job shadowing; and inter-departmental sessions where employees can learn more about products and roles within the company.
Medtronic's community involvement program is rated as exceptional. Medtronic and its employees support a variety of local, national, and international charities. Employees take part in the selection of charitable groups assisted each year. Employees receive paid time off to volunteer with their favourite charitable organizations. As part of this program, employees receive 5 paid days off to volunteer. Last year, employees donated over 195 hours volunteering with charitable projects. Approximately 61 charitable and community organizations were supported last year. The company recently surveyed its employees regarding their preferences for charitable giving with employees selecting the United Way as their preferred charitable organization, noting the charity addresses many issues and concern in the community. In addition, the company is responsible for pioneering the "Soap for Hope" project, which encourages employees to donate soaps, toothpaste, and other toiletries which are sent to homeless shelters and nursing homes in the city.
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