American Axle and Manufacturing supplies automobile components to auto manufacturers such as General Motors and Chrysler. It has 8,500 employees globally -- in addition to plants in Michigan, Indiana, Ohio and New York, it has plants as far away as Brazil and China. According to American Axle and Manufacturing (AAM), the company focuses on recruiting highly talented associates and retaining them through competitive benefits packages and professional growth opportunities. Under its employee compensation packages, both salary and hourly AAM employees receive several benefits.
Work Related Benefits
Employees working for AAM enjoy benefits related to their work such as when taking time off for vacation or due to sickness. Through the employee assistance program, an employee enjoys paid vacation for weeks as well as paid personal holidays and off days. Employees are entitled to paid sick leaves in the event of illness. Additionally, AAM employees enjoy health and fitness facilities as part of their employment benefits packages.
Apart from work-contract-related benefits, employees of AAM receive financial benefits for themselves and their families. Importantly, employees access retirement plans, health care insurance and disability protection insurance. Also, employees get tuition assistance for their children who are in college. Other benefits include mentorship programs, merit awards and job-specific employee training, which are aimed at encouraging professional development of AAM employees. It is noteworthy that, according to AAM, employee benefits structure varies according to the region where the employee is located.
The cost-of-living allowance for AAM employees is primarily concerned with the wage-earning employees, the laborers. The total wages payable to an AAM employee is the entirety of the standard hourly rates, shift premiums and premiums on overtime worked by an employee. In 2011, the total hourly rate was more than $32. AAM notes that the wage benefits payable to employees increase upwardly on an annual basis, with regard to factors such as inflation.
UAW-American Axle Legal Services Plan
The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) is one of the largest unions in North America. Through partnership with companies such as AAM, the UAW developed a legal services plan to offer legal assistance to company employees for legal services. These include assistance in solving personal debts, home foreclosure, credit card fraud, wills and probate issues at no fee. AAM contributes to this plan through a trust fund it has established for its employees. The plan is administered by an Administrative Committee within AAM. Beneficiaries of the legal services plan include top management employees, retirees, spouses, survivors and dependents of the eligible employees.