A look inside 3M’s Total Rewards
Here, you can grow through challenging work at a leading global company and be rewarded for your efforts. When you excel at work you’re passionate about, it contributes to 3M’s success and creates even more success for yourself. Look around and you’ll see that inspired opportunities are everywhere.
3M Total Rewards includes a range of plans and programs that are intended to attract, retain and motivate the high-performing employees we depend on for growth and success. 3M Total Rewards break down into three areas:
Your pay. Be rewarded for your efforts with a competitive base salary and variable incentive pay linked to company and individual performance.
Your benefits. Live your best with unique resources and high-quality benefits. Some benefits include a 3M employee stock purchase plan, study assistance, flexible working, life insurance, private medical cover discounts, a retail and lifestyle discount program and many other resources can enhance your life, both physically and financially.
Your life at 3M. Grow through challenging work by leading important projects, working with diverse, talented people and finding endless opportunities to develop your skills – while enjoying access to many perks, programs and resources.
When you are paid at 3M, you are being recognised for the meaningful contributions you make to 3M’s business results. To ensure that our pay remains aligned with our desire to remain competitive, 3M regularly benchmarks pay and benefits with other companies that are comparable in size and scope.
Your pay may include two components: base salary and variable pay. While base pay applies to all employees, variable pay is offered to eligible employees and may include annual incentives, sales incentives or other incentives.
Annual Incentive Plan (AIP)
The Annual Incentive Plan (AIP) aligns a portion of eligible employees’ pay with company, business unit and individual performance. In most cases, you are eligible for the AIP if you are an active, non-production, salaried 3M employee. Employees eligible to receive sales incentive compensation do not participate in the AIP.
Each sales representative’s pay includes base pay and sales incentives, paid monthly or quarterly, depending on the business you represent.
Long-Term Incentive Plan (LTIP)
Management-level (and equivalent) employees are eligible to receive equity grants based on their level of responsibility, individual contribution and leadership performance.
Your benefits are an important part of your total compensation at 3M. You are eligible to participate in most of these benefits beginning on your first day of employment.
3M Lifestyle Benefits Program
Provides 3M employees and their families with a program offering a range of benefits designed to save money and time and offer preferential treatment. These benefits, discounts and special offers range from Entertainment, Shopping, Travel, Home & Garden, Motoring, Wellbeing and Financial Services Categories.
Employee Assistance Program
Fully funded, confidential counselling services to 3M employees and their immediate family.
Employee Stock Purchase Plan
The opportunity to purchase 3M shares at a discounted rate through payroll deductions.
Employee Study Assistance
Assisting employees wishing to undertake a course of formal study through Universities, TAFE Colleges, professional bodies and associations, which lead to a recognised qualification.
Recognising employees who have shown excellence within their fields. These include Sales & Marketing Excellence Awards, Technical Excellence Awards and Pyramid of Excellence (for areas including customer service, IT, HR, Finance and Legal).
3M encourages employees to work within defined core hours to accommodate personal needs for flexibility. Part-time employment options are available as well as working from home if required.
Life and Total Permanent
Disablement Insurance providing financial protection to 3M employees and their families in the event of their death and total permanent disablement.
Long Service Awards
Recognise 3M employees who have shown loyalty to the company for five or more years. An annual service awards dinner is held to recognise those employees celebrating 15 years service and above.
Corporate deals are available on private medical cover. In addition to the discount, 3M will reimburse any excess payable when a claim is made.
Paid Parental Leave
Paid Parental leave for primary and secondary carers.
Personal Travel Insurance Discounts
3M employees can access personal travel insurance at a discounted retail rate.
Options are available for 3M employees to salary sacrifice on Superannuation contributions or car leasing options.
3M Staff discounts are available on a wide range of 3M products. Purchase is via company store or placing an order.
3M offers many programs to help you live your best — both physically and financially. The 3M Healthy Living Program offers a variety of resources, rewards and incentives to help you live a more active and healthy life. Take advantage of our full range of opportunities — there’s something for everyone.
Here’s a sampling:
In addition, 3M offers the following resources and opportunities: