Benefits
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.
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We call our compensation and benefits package “3M Total Rewards"
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.
Your Pay
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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.Sales Incentives
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
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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.Excellence Awards
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).Flexible Working
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.Medibank Private
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.Salary Sacrifice
Options are available for 3M employees to salary sacrifice on Superannuation contributions or car leasing options.Staff Discounts
3M Staff discounts are available on a wide range of 3M products. Purchase is via company store or placing an order.
More 3M Programs and Resources
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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:
- 3M Medical Plan premium discount for being tobacco-free and taking steps to improve your health
- On-site fitness centers at select locations
- Fitness center discounts
- Weight management program reimbursement
- Confidential Employee Assistance Program (EAP)
- Tobacco cessation offerings
- Resources to help you manage your medical care and make informed health care treatment choices
- Stress management coaching
- Child and adult (elder) care consultation and referral
- Financial and legal consultation and referral services
- Parenting resources, scholarship programs and personal growth resources
- Access to on-site health and personal services in our 3M Maplewood location, including an on-site pharmacy and medical center
- 3M Club that provides discounted tickets and an avenue to share hobbies and interests with other employees
In addition, 3M offers the following resources and opportunities:
- Tuition reimbursement
- Adoption assistance
- Flexible work arrangements
- Diverse career and development opportunities
- Scholarships for eligible dependents of employees
- Voluntary long-term care coverage, group auto and home insurance
- Employee store to purchase 3M products online or at many 3M locations
- Support for community involvement: Matching Gifts, Volunteer Match, 3Mgives (our community giving program)
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This document is not the official plan document for the plan, and in the event of any conflict, inconsistency or ambiguity between this information and the official plan documents, the terms of the official plan document will control. 3M reserves the right to modify, amend or terminate the benefit plan, in whole or in part, at any time. Neither receipt of this document nor its use of the term “you” indicate eligibility for the plan. Only those individuals who satisfy the eligibility requirements and other criteria contained in the official plan document are eligible to participate in the plan.