Employee Incentive Savings Plan (401k)
Laitram offers an attractive retirement savings package for all employees after three months (90 days) of service.
Employee contributions can be made before or after tax. Laitram matches contributions up to 4% of compensation, in addition to a 3% nondiscretionary year-end contribution.
Laitram Compensation System
Laitram’s philosophy is to compensate employees based on (1) the value of a person’s individual contribution to the Company, and (2) the success of the Company. Using commissions, production incentives, and quarterly and year-end profit incentives, our compensation system offers employees the potential to receive higher pay over time than is offered with standard compensation approaches.
EdNavigator, is a nonprofit organization that helps families find a path to success in school and beyond. Through this partnership, employees have access to an expert “Navigator” who provides personalized guidance and hands-on support with school. Navigators meet with employees in person to help guide their children through school or pursue educational goals of their own.
GeoBlue Global Traveler Insurance
Laitram has teamed up with GeoBlue to provide Laitram employees with Medical Benefits Abroad coverage. The GeoBlue Program is designed to cover Laitram employees, other than Intralox European employees, who travel on business outside their country of residence or permanent assignment.
This includes coverage for foreign Laitram employees, other than Intralox European employees, who travel to the United States.
Full Benefits Summary
Laitram provides a benefits package that represents a significant portion of each employee’s total compensation. The cost of some benefits is paid wholly by Laitram, while employees share in the cost of others. Laitram’s benefit plans operate on a calendar year basis, and the choices you make will remain in effect throughout 2021 unless you have a qualified change in family status.