Total Rewards Philosophy
Zimmer is one Company with one Company culture that is motivated by one business strategy and business philosophy. We are a performance-driven Company and our rewards programs promote the ability for employees to share in the financial and operational successes they help to create by providing valuable financial and non-financial rewards to our employees.
Zimmer provides competitive salaries and a comprehensive benefits program designed to attract, retain and motivate the right people to help ensure that Zimmer will remain successful.
Medical Plan Options
Each year eligible employees and their eligible dependents have the flexibility to choose among various Medical Plan Options, which may vary based upon the employee’s home zip code.
Participants in a Medical Plan Option are automatically provided with a Prescription Drug Program benefit.
Each year eligible employees and their eligible dependents have the flexibility to choose coverage under a comprehensive Dental Care Plan Option.
Vision Care Plan
The Vision Care Plan provides eligible employees and their eligible dependents have the flexibility to choose coverage for a discount program for routine eye exams and glasses/contacts.
Flexible Spending Accounts
Each year employees can choose to participate in Health Care Spending Account and/or the Dependent Day Care Spending Account. These accounts offer significant tax advantages by allowing employees to be reimbursed for eligible health care and dependent day care expenses on a pre-tax basis.
Zimmer Life Resources Program: Zimmer offers an Employee Assistance Program to all full-time and part-time employees and their families. This is a confidential counseling service that provides professional assistance on a broad range of personal problems, including work-related issues; legal issues; emotional problems; and child and elder-care problems.
Life Insurance and AD&D Insurance
Zimmer offers financial protection through several life insurance options that include coverage for both eligible employees and their eligible dependents. The Company also offers a Survivor Income Plan and Business Travel Accident coverage.
Disability Income Protection
The Disability Income Protection plans are designed to replace lost income during a sickness or injury that prevents an eligible employee from working. Depending on the employee’s length of service with Zimmer and the length of the disability, employees may be eligible to receive 60-100% of pay for the period set forth under the terms of the plan.
Savings and Investment Program
The Zimmer Holdings, Inc. Savings and Investment Program provides employees with a significant opportunity to save for the future. For every dollar an employee contributes to the program, up to 6% of eligible pay, the Company matches 100% after six months of service. In addition, eligible employees who have completed six months of service also receive a fixed Company contribution equal to 2% of your eligible pay if they are employed as of 12/31 of each year. Employees may elect to contribute between 2 and 30% of their eligible pay on a pre-tax and or after-tax basis. Contributions may be invested in one or more of the over 20 investment fund options.
Eligible employees may begin to participate in the Program immediately and begin receiving Company matching contributions after six months of service with the Company. In addition, after six months of service, employees begin to accrue the 2% fixed Company contribution. Employees are always 100% vested in their own contributions and become vested in the Company matching contributions over a five-year period of time. Distributions from a previous employer’s qualified savings plan may be eligible for rollover into the Zimmer Program.
Employee Stock Purchase Program (ESPP)
The Zimmer Holdings, Inc. Employee Stock Purchase Program offers employees an opportunity to share in the Company’s continued growth and success. The ESPP allows eligible employees to purchase stock in the Company at a discount during an Offering Period in which an employee elects to participate.
Tuition Reimbursement Program
Zimmer provides eligible employees with tuition reimbursement for approved courses of study. The program is designed to assist employees who are increasing their job-related knowledge and skills through courses taken at outside institutions. The annual allowance has helped employees earn advanced degrees or special certifications that enhance their career opportunities.
Vacation and Holidays
Zimmer provides eligible employees with vacation time, which is based upon the individual’s length of service according to the Company’s Vacation Accrual Schedule. Employees also enjoy paid holidays each year.
Benefits described above are for regular, full-time U.S., non-union employees. Each program and/or plan may have specific eligibility requirements that are not provided in the summary above. This summary is not intended to describe the specifics of the plan and is presented for reference purposes only. The actual terms of the applicable plan are governed by the plan document. In the event of a conflict, the plan document controls. The Company reserves the right to amend or terminate each plan.