Pay & Rewards
Our financial benefits reward performance and help you save for the future, benefit from being an owner in the company and get a tax advantage when you pay for higher education.
Retirement/401(k) Plan
You are eligible to join the 401(k) tax-deferred investment plan upon hire. You can enroll in the Plan at any time by choosing a pre-tax salary reduction percentage or flat dollar amount. Plantronics contributes 3% of your pre-tax biweekly salary to the Plan each payroll period -- regardless of your 401(k) salary deferral percentage -- and matches half of every dollar you invest up to 6% of your pre-tax salary. You immediately vest in these company contributions. All contributions can be allocated among several investment options, including the discounted Plantronics stock fund; investment changes or transfers can be made at any time through the use of an "800 number" Answerline service or on-line.
Quarterly Cash Profit Sharing
Each quarter, 5% of Company pre-tax profit is paid to associates. Associates receive a share based on their eligible earnings for the quarter in proportion to total eligible earnings for all associates. Associates must be actively employed on the last working day of the quarter to participate. Cash distribution is normally made in July, October, January, and April following the release of the Company's financial results.
Employee Stock Purchase Plan
The Employee Stock Purchase Plan (ESPP) provides non-management associates with an opportunity to purchase Company common stock using after-tax payroll deductions at a discount provided by the Company. Regular associates who work more than 20 hours per week on the first day of an Offering Period are eligible to participate.
Broad Based Stock Options
Plantronics offers Broad Based Stock Options. New associates will receive information regarding their Plantronics options from their managers during the month following their date of hire. The price will be at market price upon grant; generally these are granted on the first day of hire. Vesting will be at 20% at 12 months from the date of grant and then 1/60 of the shares shall vest each month thereafter. Options fully vest after 5 years and expire after 10 years from the date of grant.
Educational Assistance
Plantronics encourages employees to continue their education throughout their careers and thereby enhance their value to the Company. We currently offer up to $3,000 per year in tuition and textbook reimbursement, based on the grades received.
- 529 Savings
Associates can participate in a variable return college savings program known as the Putnam College Advantage Program that enables individuals to save an invest on a tax-favored basis to fund college and graduate school expense of a child or other beneficiary. - Cash Spot Program
Notable performance is rewarded through this cash based recognition program. - Employee Referral Program
Associates who refer candidates that are hired by Plantronics receive cash awards.
Paid Time Off
Holidays
The company provides 9 1/2 days of annual paid time off for recognized Company holidays and a Personal holiday. Company holidays are New Year's Day, President's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, the day after Thanksgiving, Christmas Eve (1/2 day), and Christmas Day. You may choose to use the Personal Holiday at any time during the year, with your supervisor's approval.
Vacation
Plantronics provides paid time off for employees to pursue personal interests.
Length of Service = Annual Vacation Accrual Rate
- New Hire to 5 years = 3 weeks
- 5-6 years = 3 weeks, 1 day
- 6-7 years = 3 weeks, 2 days
- 7-8 years = 3 weeks, 3 days
- 8-9 years = 3 weeks, 4 days
- 9 years = 4 weeks
Leave of Absence
Necessary leaves of absence are provided to eligible employees for the following reasons: Medical, Pregnancy, Family Care, Jury Duty, Witness Service, Military Service, and Industrial Injury.
Sick Time
Exempt employees do not accrue sick time hours, but use limited personal time off in the event of an illness (up to 5 consecutive days). Non-exempt employees receive 10 days of sick time off per year, accrued each biweekly period. With the last payroll of the calendar year, half of the hours in the employee's sick balance will be paid to the associate at their regular rate of pay.
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