Our employees are our most valuable asset, and that’s how we treat them
The work we do at MPC is critical to the millions of people who rely on the products we manufacture, transport and market. That’s why we strive to attract and retain the best people for every job we have. Part of that effort is our Total Rewards – the pay, career, benefits and work/life programs we offer employees.
In 2014, we invested more than $1.2 billion in pay for our employees. But take-home pay is just the start. We provide health insurance to our full-time employees, including options for dental and vision plans, as well as company-paid disability benefits and life insurance. We help secure our employees’ financial futures by offering a 401(k) with a company match and a cash balance plan that includes a contribution of up to 11 percent by the company, with a minimum of a 3 percent return. And we are one of just over 20 percent of the Fortune 500 companies that currently offer both a defined benefit pension plan and a 401(k) retirement plan.
“Our industry is extremely competitive when it comes to rewarding our employees, so at MPC we are always looking for new ways to add value to their lives in ways that are meaningful,” says Robin Love, MPC’s manager of Benefits Administration. Just this year, she noted, MPC increased the company-paid life insurance coverage to two times an employee’s annual pay, added a company-paid accidental death benefit of one year of an employee’s annual pay, and established a customer-service line with MPC’s health insurance provider that’s available exclusively to MPC employees and their families.
MPC’s benefits also seek to enhance employees’ personal lives through programs like adoption assistance, scholarships, tuition reimbursement and providing cash donations to nonprofits where employees volunteer their time, among many other benefits.
“Our objective is to make sure our Total Rewards program is always greater than the sum of its parts,” says Love. “We want our employees to be happy and healthy in their careers, while at the same time we reinforce our corporate values of integrity, corporate citizenship and an inclusive culture.”