We view employee wellness as a key component of a strong corporate culture. Our programs have historically included free smoking cessation programs, on-site biometric screenings, health and diet coaching, subsidized gym memberships and flu shots. Providing our employees with the tools to improve their wellbeing – not just physical wellbeing, but also mental, emotional and financial wellbeing – is of paramount importance. This is why, in FY 2022, we partnered with Virgin Pulse, a nationally recognized wellness partner, to enhance our employee wellness offerings. The program is initially only being offered to US employees, but our plans include expanding participation to include our employees all over the globe as well.
US Employee Benefits
While there are slight variations in benefit programs across locations, benefits for our U.S. employees generally include the following:
Health: Medical, Dental, Vision, Flexible Spending Accounts, Health Savings Accounts, CIGNA employee assistance program, Paid Sick Days.
Financial Wellness: Retirement savings plan (401(k)), Retirement contribution, Discounted Employee Stock Purchase Plan.
Insurance: Company-Paid Basic Life » voluntary Life, Dependent Life, Critical Accident, Critical Illness, Short-Term Disability, Long-Term Disability, Group Accident & Disability, Business Travel Accident.
Miscellaneous: Educational Assistance, Vacation and Holidays, Matching Gift Program, Bereavement Leave
In 2021, we did not increase employee medical premiums and Standex paid $570,000 toward employee health savings accounts. We implemented additional benefit options for employees to purchase critical illness and critical accident insurance. The CIGNA employee assistance program connects employees to assistance for a range of life issues from behavioral health to chronic disease management, to planning for retirement or managing career changes. The service is free and confidential, giving employees a safe place to ask difficult questions.
Standex Scholarship Fund
We believe that taking care of employees goes beyond providing health care and other benefits. The Standex Scholarship fund has been in place for 60 years and is committed to supporting education for the children of our employees. In that time, we have awarded over $2.6 million in scholarships. In 2021 we provided scholarships to 23 students across eight countries. A Matching Gift program is available for employees to donate to a university or college with Standex matching the employee donations up to $500.