Rewards and Recognition
Our North America businesses are more diverse than in the UK due to different business needs. For example in our largest division, First Student, many employees work part-time.
We aim to pay rates appropriate to the geographical markets in which we operate. We follow a median pay strategy, but recognise that we will often inherit existing pay structures as we take over contracts. In addition we offer all our employees benefits that compare favourably with those provided by our direct private sector competitors, particularly with regard to part-time workers.
The benefits we offer are intended to meet the needs and aspirations of our employees, and include the elements below.
- Tax free savings plans - ('401K'), where the company matches employees' savings to an agreed level. This provides a defined contribution pension benefit in line with industry practice in North America.
- Access to a range of benefits, including medical, life insurance and dental insurance plans. There may be direct employer contributions to these benefits.
- Access to 'affinity benefits', giving employees the opportunity to purchase everyday items at a discounted price.
Our employees also have the opportunity to earn a bonus as a reward for their performance against agreed objectives. For example, in First Vehicle Services and First Transit we pay a bonus to reward technicians who successfully pass a skill certification test. In First Services, the Safety Incentive Programme rewards good safety performance and reduction in time lost due to injuries. In most First Student locations we operate a bonus plan called Performance Plus that rewards attendance and safety performance.
Across North America, senior managers participate in the same bonus plans as those based in the UK. Managerial colleagues participate in a cash-denominated annual bonus scheme.