Compensation and Benefits
Medtronic provides employees with comprehensive compensation and benefits programs. We use a market-based approach to establish competitive programs that align individual compensation with job responsibilities, performance, career development, and the means to share in Medtronic’s success.
Our benefits package for full-time employees working in the United States includes:
- Health plans: medical, dental and vision, with domestic partner coverage.
- Paid time off: vacation, sick leave, holidays, bereavement and compassionate leave to care for immediate family members who are terminally ill.
- Insurance: life, accidental death and dismemberment, and disability, both short- and long-term.
- Flexible spending accounts: health and dependent care.
- Retirement plans: personal investment, personal pension, and 401K, with employer contribution.
- Employee stock purchase plans.
- Tuition aid and scholarship programs, for employees and their children.
- Employee assistance program/work-life resources, including adoption and eldercare assistance.
Benefits outside the United States
In addition to standard benefits, such as vacation and holidays, Medtronic provides a variety of benefits to employees working in other countries. Some examples include:
China: medical insurance for employees and their families, housing assistance, life and accident insurance, and annual physical exams.
Ireland: a defined benefit pension, medical benefits for employees and their families, wellness screenings, a subsidized cafeteria, and educational assistance.
Japan: home mortgage subsidies, an annual employee appreciation bonus, life, accident, and disability benefits, and an on-site massage facility.
Switzerland: a cash balance retirement plan, life and accident insurance, medical benefits, a social club (that sponsors group social events and employee discounts on various products, services and travel), and employee assistance program.