Approach to the Pandemic
We recognize the value of good health for our employees, their families and our communities. Our principal focus during the COVID-19 crisis was the health and safety of our people across the globe. Because our products and technologies were essential to support the needs of our customers, the vast majority of our manufacturing operations continued to stay in production during the pandemic. To keep our people safe, we quickly put in place crisis protocols, including daily health checks in compliance with the Center for Disease Control, enhanced work procedures and processes to increase social distancing between coworkers, provided hand sanitizers and anti-bacterial surface wipes, and heightened sanitizing protocols. We posted country and state guidelines at entry and exit points, and ensured employees had access to a supply of PPE, including face masks. We encouraged employees who could work from home to do so, and a large percentage of our workforce shifted to working remotely during this time. Soon, we were conducting virtual meetings using video capability, allowing our teams to stay connected to our customers and one another, despite the physical distance. We provided emergency pay to our manufacturing workforce to address circumstances such as the need to care for a family member with COVID, required quarantine, and COVID recovery. We enhanced our wellness initiatives, including virtual doctor and counseling visits available 24/7, and a monthly wellness program including a calendar of events with suggested activities such as mindfulness awareness activities.
Prior to COVID-19, we partnered with an external wellness partner for our employee wellness program, and we offered a variety of ways to reach employees with health and wellness information including free flu shots, biometric screenings, personal coaching, event driven activities such as a steps challenge, heart healthy month, smoking cessation programs, and mindfulness awareness activities. As we emerge from the pandemic, we are renewing many of these programs.
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.