Why Phoenix Coaters
Wages and Salaries are compared annually with numerous survey and data sources to assure our compensation is competitive with the market.
Phoenix Coaters is an ESOP
Employee Stock Ownership Plan. A trust established by a corporate in which acts as a tax-qualified, defined contribution retirement plan by making the corporation's employees partial owners. Contributions are made by the sponsoring employer, and can grow tax-deferred, just as with an IRA or 401(k). But unlike other retirement plans, the contributions must be invested in the company's stock. The benefits for the company include increased cash flow, tax savings, and increased productivity from highly motivated workers. The main benefit for the employees is the ability to share in the company's success.
We have a very generous vacation plan. On average you can earn more vacation than in other companies and you can earn it faster, with less years of service. For example, you can earn 3 weeks vacation in 5 years, where the average for 506 Wisconsin companies recently surveyed is 6.4 years. Also, many companies require you to work a full year before you earn any vacation. Not Phoenix Coaters. You can earn vacation here in just six months.
We have 10 paid holidays each year as compared to an estimated average of 8.8 per year for surveyed Wisconsin employers.
Phoenix Coaters still covers a lot of things other plans don’t and at a competitive cost to you. In 2010, you can get single coverage as low as $576.00 per year ($11.08 per week). We also have excellent plans available for dental and vision insurance to meet your needs and budget.
Personal Protective Equipment
Phoenix Coaters has competitive reimbursement programs for safety shoes, prescription safety glasses, and provides numerous other protection items to you free-of-charge.
We offer you a Section 125 Flexible Spending Account which allows you to pay employee contributions for many benefits with pre-tax dollars
Phoenix Coaters pays quarterly, discretionary bonuses (which have averaged between 5% - 9% over the past two years). This means that you get your pay - plus that added percent of your pay. For example, if you made $7,500 in the calendar quarter, a 5% bonus would be an additional $375 - or $1,500 for the year!
401K Profit Sharing
Phoenix Coaters pays an annual profit sharing amount to each employee in a 401(k) Account. This is not a match that requires you to contribute. It is an amount the company sets aside for you in this account based on profits. You personally control the funds in which it is invested. The amount distributed in early 2009 was 3% of your base pay.
Other Advantages to Phoenix Coaters
Accidental Death & Dismemberment
Jury Duty Pay
Safety Awards and Service Awards. (depending on location)
Corporate Sponsored Events
We pay the premium for your life insurance at 2 times your annual compensation. About 75% of Wisconsin companies only match your compensation up to 1.5 times your compensation or less. We also offer you the chance to increase this to 3 or 4 times for a small contribution.
This example assumes a prior stock account balance of $10,000 and base pay of $30,000.
|401(k) Plan Award
|Health Ins. Premium*
|Stock Contribution (6%)
|Stock Appreciation (14.2%)
|TOTAL HIDDEN PAYCHECK:
|CONVERTED HOURLY RATE:
*This example assumes family coverage.