Employee Retention of DuPont : E. I. du Pont de Nemours and Company (NYSE: DDPRA, NYSE: DDPRB, NYSE: DD), commonly referred to as DuPont, is an American chemical company that was founded in July 1802 as a gunpowder mill by Eleuthère Irénée du Pont. DuPont was the world's third largest chemical company based on market capitalization and ninth based on revenue in 2009. Its stock price is a component of the Dow Jones Industrial Average.
In the 20th century, DuPont developed many polymers such as Vespel, neoprene, nylon, Corian, Teflon, Mylar, Kevlar, Zemdrain, M5 fiber, Nomex, Tyvek, Sorona and Lycra. DuPont developed Freon (chlorofluorocarbons) for the refrigerant industry and later, more environmentally friendly refrigerants. It developed synthetic pigments and paints including ChromaFlair.
DuPont's trademarked brands often become genericized. For instance, “neoprene” was originally intended to be a trademark, but quickly came into common usage.
"Values" is a word that appears frequently today in corporate annual reports, vision statements and anniversary histories. An organization's values are those principles, ideas and ideals that its members adhere to, often without consciously recognizing that they are doing so. Values are the glue that holds an organization together, in good times and especially in bad ones.
DuPont is a global company of people who make a difference in everyday life. For talented and creative people like you, future career paths can be rich and varied. DuPont offers you endless possibilities to use all of your professional and interpersonal skills to help us create the future together
t DuPont, we help create the future through science and technology. Professionals in science, engineering, business and information technology are at the heart of this creative process. We’re looking for not just any professional, but those with a deep desire to work at the leading edge of their career fields, to develop the technologies of the future and to pursue excellence.
Recruitment Process
The experienced professional recruitment process is a four-stage process focused on identifying, assessing, interviewing and hiring the very best professional for each opportunity.
In addition to basic benefits offerings such as comprehensive group insurance coverage, medical & dental benefits, education assistance sponsorship, loan assistance plans, long service awards and many more, our employee benefits programs not only cater to the employees’ needs but also recognize the diversity of DuPont employees and our benefits programs are a manifestation of this. These include:
Enhancing Total Well-Being
At DuPont, we promote the total well-being of our employees as it makes good business sense.
Employee Assistance Program
External counseling services provided for employees for any issue…
Staff Recreation Committee Activities
Activities organized by staff committee to promote work-life balance, wellness, etc.
Pro Family Practices
Recognising the importance family plays in our employee’s life, we incorporated the following pro-family benefits.
Flexible Work Practices
These range from flexible work hours to part-time work.
Pro-Family Benefits
A range of pro-family benefits ranging from leaves such as marriage, maternity, paternity, sick family members, medical and insurance coverage for employees and family members as well as holiday subsidy and interest subsidy plans are provided.
DuPont, the Wilmington, Delaware-based chemical company, will begin reducing benefits on its defined-benefit pension program in 2008, and will close the plan to new employees as of January 2007.
The changes are part of DuPont's strategy of shifting retirement benefits away from the defined-benefit pension plan and toward a 401(k) plan. The changes are "consistent with market trends in employee benefits and will enhance the company's business competitiveness," remarked James Borel, DuPont's senior vice president of human resources, in a statement. The amendments to the plan do not affect the company's current U.S. retirees, former employees with vested benefits, or current employees who retire or terminate their employment before January 1, 2008.
Under the planned change, current employees will continue to be in the defined benefit pension program, however, after 2007, benefits will accrue at one-third of the current rate. The company-paid survivor benefit will not accrue after December 31, 2007, according to a DuPont announcement, although the benefit that employees have earned until that date will be preserved.
Starting in January 2008, all employees will be enrolled in an "enhanced savings and investment plan" and the company will automatically contribute 3 percent of each employee's pay into his or her account. Employees who contribute to the plan will receive a full company match on the first 6 percent of their salary that they contribute. Currently, the company match is less than that, just 50 percent of up to 6 percent of an employee's savings.
Employees that join DuPont after January 1, 2007 will not be able to participate in the pension and retirement plan nor will they receive a company subsidy for retiree healthcare or retiree life insurance. Those employees will be part of the enhanced savings plan.
DuPont does not expect the pension plan changes to have much of an effect on its 2006 earnings. The company will record a modest benefit to earnings over the rest of the year from a required third quarter re-measurement of its U.S. pension cost. Beginning in 2007, the pension plan amendments are expected to improve earnings by $.03 per share and in 2008, by $.05 per share.
1. Staffing strategies will coincide with long-term business objectives to minimize a need for major
workforce reductions.
2. Excess employees are and should be recognized as valuable and redeployable, and their skills should
be utilized to satisfy other needs essential to the business.
3. Full-Service Employees (except those involved in the sale of a business) should be allowed to
compete for available opportunities at other locations.
4. Redeployment of employees should be considered across the Company and not strictly across
a business or site.
5. Transition assistance processes should:
• meet the needs of excess employees while not creating a competitive cost disadvantage for businesses;
• be viewed as fair by both excess and remaining employees;
• provide a uniform process for treatment of all employees.
Career Transition Program
Under CTP, the focus is on providing excess DuPont people with the needed time and resources to
find and transition to a new job—either within DuPont or with another employer. Accordingly, a high
premium has been placed on an upgraded redeployment effort, as well as retraining, career counseling,
and other transition and job search services.
There is a 60-day redeployment period. All excess employees will be given 60 days of redeployment
consideration, and they will continue to work if needed, but they will be allowed reasonable time away
from work to seek employment over the period.
If redeployment to another job within DuPont is not possible and you are terminated for lack of work,
CTP provides you assistance in making a transition to employment outside DuPont.
In the 20th century, DuPont developed many polymers such as Vespel, neoprene, nylon, Corian, Teflon, Mylar, Kevlar, Zemdrain, M5 fiber, Nomex, Tyvek, Sorona and Lycra. DuPont developed Freon (chlorofluorocarbons) for the refrigerant industry and later, more environmentally friendly refrigerants. It developed synthetic pigments and paints including ChromaFlair.
DuPont's trademarked brands often become genericized. For instance, “neoprene” was originally intended to be a trademark, but quickly came into common usage.
"Values" is a word that appears frequently today in corporate annual reports, vision statements and anniversary histories. An organization's values are those principles, ideas and ideals that its members adhere to, often without consciously recognizing that they are doing so. Values are the glue that holds an organization together, in good times and especially in bad ones.
DuPont is a global company of people who make a difference in everyday life. For talented and creative people like you, future career paths can be rich and varied. DuPont offers you endless possibilities to use all of your professional and interpersonal skills to help us create the future together
t DuPont, we help create the future through science and technology. Professionals in science, engineering, business and information technology are at the heart of this creative process. We’re looking for not just any professional, but those with a deep desire to work at the leading edge of their career fields, to develop the technologies of the future and to pursue excellence.
Recruitment Process
The experienced professional recruitment process is a four-stage process focused on identifying, assessing, interviewing and hiring the very best professional for each opportunity.
In addition to basic benefits offerings such as comprehensive group insurance coverage, medical & dental benefits, education assistance sponsorship, loan assistance plans, long service awards and many more, our employee benefits programs not only cater to the employees’ needs but also recognize the diversity of DuPont employees and our benefits programs are a manifestation of this. These include:
Enhancing Total Well-Being
At DuPont, we promote the total well-being of our employees as it makes good business sense.
Employee Assistance Program
External counseling services provided for employees for any issue…
Staff Recreation Committee Activities
Activities organized by staff committee to promote work-life balance, wellness, etc.
Pro Family Practices
Recognising the importance family plays in our employee’s life, we incorporated the following pro-family benefits.
Flexible Work Practices
These range from flexible work hours to part-time work.
Pro-Family Benefits
A range of pro-family benefits ranging from leaves such as marriage, maternity, paternity, sick family members, medical and insurance coverage for employees and family members as well as holiday subsidy and interest subsidy plans are provided.
DuPont, the Wilmington, Delaware-based chemical company, will begin reducing benefits on its defined-benefit pension program in 2008, and will close the plan to new employees as of January 2007.
The changes are part of DuPont's strategy of shifting retirement benefits away from the defined-benefit pension plan and toward a 401(k) plan. The changes are "consistent with market trends in employee benefits and will enhance the company's business competitiveness," remarked James Borel, DuPont's senior vice president of human resources, in a statement. The amendments to the plan do not affect the company's current U.S. retirees, former employees with vested benefits, or current employees who retire or terminate their employment before January 1, 2008.
Under the planned change, current employees will continue to be in the defined benefit pension program, however, after 2007, benefits will accrue at one-third of the current rate. The company-paid survivor benefit will not accrue after December 31, 2007, according to a DuPont announcement, although the benefit that employees have earned until that date will be preserved.
Starting in January 2008, all employees will be enrolled in an "enhanced savings and investment plan" and the company will automatically contribute 3 percent of each employee's pay into his or her account. Employees who contribute to the plan will receive a full company match on the first 6 percent of their salary that they contribute. Currently, the company match is less than that, just 50 percent of up to 6 percent of an employee's savings.
Employees that join DuPont after January 1, 2007 will not be able to participate in the pension and retirement plan nor will they receive a company subsidy for retiree healthcare or retiree life insurance. Those employees will be part of the enhanced savings plan.
DuPont does not expect the pension plan changes to have much of an effect on its 2006 earnings. The company will record a modest benefit to earnings over the rest of the year from a required third quarter re-measurement of its U.S. pension cost. Beginning in 2007, the pension plan amendments are expected to improve earnings by $.03 per share and in 2008, by $.05 per share.
1. Staffing strategies will coincide with long-term business objectives to minimize a need for major
workforce reductions.
2. Excess employees are and should be recognized as valuable and redeployable, and their skills should
be utilized to satisfy other needs essential to the business.
3. Full-Service Employees (except those involved in the sale of a business) should be allowed to
compete for available opportunities at other locations.
4. Redeployment of employees should be considered across the Company and not strictly across
a business or site.
5. Transition assistance processes should:
• meet the needs of excess employees while not creating a competitive cost disadvantage for businesses;
• be viewed as fair by both excess and remaining employees;
• provide a uniform process for treatment of all employees.
Career Transition Program
Under CTP, the focus is on providing excess DuPont people with the needed time and resources to
find and transition to a new job—either within DuPont or with another employer. Accordingly, a high
premium has been placed on an upgraded redeployment effort, as well as retraining, career counseling,
and other transition and job search services.
There is a 60-day redeployment period. All excess employees will be given 60 days of redeployment
consideration, and they will continue to work if needed, but they will be allowed reasonable time away
from work to seek employment over the period.
If redeployment to another job within DuPont is not possible and you are terminated for lack of work,
CTP provides you assistance in making a transition to employment outside DuPont.
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