Timex Employee Retention Plan

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PART B As a co-operative education student who worked within the Human Resources department at Timex Group Canada Inc. in the past, I had the opportunity to learn about the company itself. First of all, Timex Corporation is based in Waterbury Connecticut that specializes in manufacturing and selling affordable watches and clocks. The company manufactures and sells different types of watches which includes fashion and sports. As a student, I have had the chance to learn about the different benefits that Timex offers. Timex offers a variety of benefits which includes educational assistance, vacation, health and dental benefits, RRSP and DPSP program, employee assistance program, employee discount, employee recognition, and volunteering. Employees…show more content…
The longer employees work at the company, the more vacation days they will receive. In order to be entitled to the vacation days, an employee must work at the company for 1 full year. Employees who work for an entire year will receive 10 days of vacation. There can be requests for vacation days to be carryover the following year with the permission of the Human Resources department and senior management. The following is a chart of how many years of service the employees work for with the corresponding days of vacation they will…show more content…
This services is free for full-time workers and their family. Employees are able to speak to professionals to get support and advice on issues including parenting and child care, education, midlife and retirement, disability, financial, health, grief and loss, and more. With LifeWorks, employees will have access to the LifeWorks website that will give them information and resources to help them overcome their everyday lives. LifeWorks provide personal support that is confidential. This service is available in more than 140 languages. Employees are able to speak to counsellors any time and any day of the year. LifeWorks can also help employees by referring them to resources, and services that are available in their city. The perks of working at Timex is the discounts the company offers to its employees on all of its products. The discount applies to the products on their catalogues and Timex Outlet Store. The discounts are 50% off for Nautica and Marc Ecko watches, and 54% off for all Timex products from the catalog. An additional 10% off, for products purchased in the Timex Outlet Stores. Every year at the employee event, the company gives each employee a complimentary free watch for appreciation of the service they provide to the company. Employees can choose a watch with a maximum suggested retail price of

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