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Employee Retention of Seagate Technology

Employee Retention of Seagate Technology

Discuss Employee Retention of Seagate Technology within the Human Resources Management (H.R) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Seagate Technology (NASDAQ: STX) is one of the world's largest manufacturers[2] of hard disk drives. Incorporated in 1978[3] as Shugart ...

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Employee Retention of Seagate Technology
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Pratik Kukreja
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pratikkk
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Employee Retention of Seagate Technology - April 16th, 2011

Seagate Technology (NASDAQ: STX) is one of the world's largest manufacturers[2] of hard disk drives. Incorporated in 1978[3] as Shugart Technology,[4] Seagate is currently incorporated in Dublin, Ireland[5] and has its principal executive offices in Scotts Valley, California

Seagate Technology, and its subsidiaries (collectively, the “Company”) is committed to conducting its business with honesty and integrity. In furtherance of this commitment, the Company has adopted this Code of Business Ethics (this "Code"). The policies outlined in this Code are designed to ensure that the Company’s employees and officers (“Employees”) and members of its board of directors (“Directors”) act in accordance with not only the letter but also the spirit of the laws and regulations that apply to our business. Employees and Directors who violate this Code will be subject to disciplinary action.

Employees and Directors are expected to read the policies set forth in this Code and ensure that they understand and comply with them. Any questions about the Code or the appropriate course of conduct in a particular situation should be directed to the Company’s General Counsel. Any violations of laws, rules, regulations or this Code should be reported immediately, by following the procedures for reporting violations included in this Code, below. The Company will not allow retaliation against an Employee or Director for such a report made in good faith.

Any waiver of the provisions of this Code for executive officers or Directors of the Company may be made only by the board of directors or a committee of the board and must be promptly disclosed to shareholders.

Seagate Benefits
This overview provides highlights of the Seagate US benefits program, which reflects the many facets that make up our employees’ work and personal lives — and the many paths there are to individual health, security and well-being.
You are eligible for all the benefits described in this overview if you are a regular employee on US payroll who is scheduled to work 30 or more hours per week, unless otherwise noted. Interns scheduled to work 30 or more hours per week are eligible for medical, dental, and vision coverage, the Employee Assistance Program, paid holidays, the Employee Stock Purchase Plan and voluntary benefits through the EmployeeAdvantages program.
Please contact Seagate Human Resources if you have any questions about the benefits program.
The information on this page is valid for calendar year 2011.

Your Well-Being

Health Care Overview
Seagate allows you to tailor your health care benefits to fit your unique needs. You can make separate elections for medical, dental, and/or vision coverage, or waive coverage in any of these plans. And, for each plan you enroll in, you choose the coverage level that works best for you -- including coverage for your spouse or domestic partner and children.

Health Care Enrollment
You can enroll in medical, dental, and vision coverage within the first 31 days of employment or during the annual benefits Open Enrollment period, held every fall. You may add dependents within 31 days of an IRS-qualified life event, such as marriage, birth or adoption.

Health Care Costs
You and Seagate share the cost of health care, with separate costs for medical, dental, and vision coverage. Costs vary depending on the plans you select and which dependents you are covering.

Medical Plans
Seagate offers four choices of comprehensive medical plans in most areas. Coverage is effective from your first day of employment. Your choices are:

High Deductible Health Plan (HDHP)

Available throughout the US
Administered by CIGNA
Nationwide network of health care providers
90% in-network coverage, 70% out-ofnetwork coverage
Least expensive medical plan in terms of paycheck contribution cost
Calendar-year deductible of $1,150 for employee only coverage or $2,300 for employee with dependent coverage
Calendar-year out-of-pocket maximum of $3,100 for employee only coverage or $6,200 for employee with dependent coverage
Option to enroll in a Health Savings Account (HSA) — Seagate funds the HSA and you may make additional contributions of your own. For 2009, Seagate will contribute $300 for employee only coverage or $600 for employee with dependent coverage to your HSA — if your hire date is July 1, 2009, or later, Seagate’s contribution to the HSA for 2009 will be $150 for employee only coverage and $300 for employee with dependent coverage. In addition, you can make pre-tax contributions of your own money. HSA funds are available for qualified medical, dental, and vision expenses you pay for yourself and your IRS-qualified dependents.
Preferred Provider Organization (PPO) Plan

Available throughout the US
Administered by CIGNA
Nationwide network of health care providers
Most in-network services are covered 100% after a copayment
For other services: 90% in-network coverage, 70% out-of-network coverage
Calendar-year deductible of $300 for employee only coverage or $900 for employee with dependent coverage
Calendar-year out-of-pocket maximum of $2,000 for employee only coverage or $4,000 for employee with dependent coverage
Exclusive Provider Organization

Available throughout the US
Administered by CIGNA
Nationwide network of health care providers
100% in-network coverage after a copayment, must use network providers for medical services
No deductible
Health Maintenance Organization (HMO) Plans

The following HMOs are available:
California: Kaiser
Colorado: Kaiser
Network of local health care providers
100% in-network coverage after a copayment, must use network providers for medical services
No deductible


Prescription Drug Coverage
When you enroll in a Seagate medical plan, you and your covered dependents are also automatically enrolled in prescription drug coverage.

Dental Plan
Administered by MetLife, the plan provides in-network and out-of-network coverage for preventive care, minor and major restorative services, and orthodontia.

Vision Plan
The Seagate vision plan, administered by VSP, offers in-network and out-of-network coverage for a comprehensive eye exam, lenses, frames, and contacts. In addition, coverage for corrective laser eye surgery is available.

Flexible Spending Accounts
Seagate offers you the opportunity to participate in the flexible spending accounts, special tax-advantaged contributory accounts created to help you pay for unreimbursed health care and dependent care expenses. The flexible spending accounts allow you to set aside money from your paychecks each pay period on a pre-tax basis to pay for eligible IRS-approved expenses.


Basic Life Insurance
Effective your employment date, you are automatically enrolled in basic life insurance coverage of 2 times your annual salary, up to $1,000,000.

This coverage is provided at no cost to you and changes automatically whenever your salary changes.

Supplemental Life Insurance
You may purchase supplemental life insurance coverage for yourself, your spouse or qualified domestic partner, and/or your dependent children. You can enroll in this coverage within the first 31 days of employment or during the annual benefits Open Enrollment period, held every fall. You may also enroll in this coverage within 31 days of an IRS-qualified life event, such as marriage, birth or adoption. Coverage for yourself and your spouse or domestic partner is subject to approval by the insurance company based on proof of good health.

Coverage amounts available are:

For yourself: $25,000, 1 times, 2 times, 3 times, 4 times, or 5 times your annual salary to a maximum of $500,000 -- if you elect coverage that is a multiple of your salary, the coverage amount changes automatically whenever your salary changes
For your spouse or domestic partner: $25,000, $50,000, $75,000, $100,000, $150,000, $200,000, $300,000, $400,000, or $500,000 to a maximum of 100% of the employee's combined basic and supplemental life insurance coverage amounts
For your dependent child(ren): $10,000.

Basic Accidental Death and Dismemberment (AD&D) Insurance
Effective your employment date, you are automatically enrolled in basic accidental death and dismemberment (AD&D) coverage of 1 times your annual salary, up to $1,000,000.

This coverage is provided at no cost to you and changes automatically whenever your salary changes.

Voluntary Accidental Death and Dismemberment (AD&D) Insurance
You may purchase voluntary AD&D coverage of up to 10 times annual salary, to a maximum of $1,000,000. You can enroll in this coverage within the first 31 days of employment or during the annual benefits Open Enrollment period, held every fall. You may also enroll in this coverage within 31 days of an IRS-qualified life event, such as marriage, birth or adoption. All supplemental AD&D coverage is guaranteed issue - no proof of good health is required to enroll. Your supplemental AD&D coverage amount automatically changes automatically whenever your salary changes.
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