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Benefits and pay (TotalReward)
TotalReward is designed to attract, retain, motivate and develop the best people to do their best work.
TotalReward is underpinned by two key philosophies: pay for performance and sharing in our success. The link between individual performance and the success of GSK is at the heart of TotalReward.
TotalReward at GSK consists of:
- Total cash - Salary, bonus/incentive compensation, recognition awards, and Long-Term Incentives for eligible employees.
- Savings choices - Pension Plan, ShareSave and ShareReward.
- Lifestyle benefits - Healthcare, employee assistance programme, family support childcare benefit plan, car allowance and employee car ownership scheme, TotalReward discounts and holidays.
This information is subject to change at the discretion of GSK.
Total cash
Offering competitive pay that rewards performance is critical to our long-term success. Our Total Cash programs are designed to give you the opportunity to earn good rewards for good performance and superior rewards for superior performance.
Key features:
- A competitive base salary that is reviewed annually.
- An annual bonus which is the main reward for performance, both Company performance and, for most employees, individual performance.
- A Recognition Program to recognise and reward special achievements and contributions by employees and teams.
- Long-Term Incentives, such as Share Options and Restricted Shares and Performance Shares for vice-presidents, which provide an incentive for eligible employees to contribute to and have a personal stake in our future success.
This information is subject to change at the discretion of GSK.
Savings choices
At GSK we offer you the opportunity to save for your financial future in the medium to long term by participating in our Savings Choices – Pension Plan, ShareReward and ShareSave and a financial education programme to help you make the most of your TotalReward.
Key features:
- A money purchase Pension Plan in which GSK contributes 4% of your pensionable pay and matches your contributions up to another 4%.
- A ShareSave plan which pays a guaranteed tax-free bonus and gives you the opportunity to buy discounted GSK shares at the end of the savings period.
- A ShareReward plan in which you receive a free GSK share for every share you buy.
- Financial Education Programme, providing you with a wide range of financial planning options including telephone consultation and online planning tools, plus the opportunity to have a financial plan developed with discounted fees
This information is subject to change at the discretion of GSK.
Lifestyle benefits
GSK's mission is to help people 'do more, feel better and live longer', and this approach is extended to GSK employees. Lifestyle Benefits are designed to make it easier for you to balance your work and personal life and to care for yourself and your family – whatever your circumstances.
Key features:
- Healthcare: designed to give you and your family access to prompt medical treatment when and where you need it.
- Employee Assistance Programme: designed to offer a helping hand when it comes to organising and dealing with the pressures of work and family life
- Family Support: a service to help you find appropriate childcare or eldercare, including before and after school programmes, home help and nursing homes. Advice and publications on all aspects of caring for young children and older dependents.
- Childcare Benefit Plan: a salary sacrifice plan designed to reduce the financial burden on working parents, sacrifice an amount form your salary each month towards the cost if your childcare.
- Car Allowance and Employee Car Ownership Scheme: if eligible, a monthly car allowance which you can use to a purchase a car through the scheme or take as cash – the choice is yours
- TotalReward Discounts: a range of discounted products and services designed to support your health, wealth and well-being.
- Holidays: you are entitled to 26 paid personal holiday each year (increasing to 27 days after five years service and 28 days after 10 years service) plus eight paid public holidays. If you join during the holiday year (January to December) your entitlement will be prorated
This information is subject to change at the discretion of GSK.
