COMP NEWS – Tyson Foods is giving its employees year-end annual bonuses of between $300 to $700 to thank them for their work during a difficult year.
Tyson Foods is saying thank you once again to more than 90,000 hourly team members across the U.S. by giving them approximately $50 million in year-end bonuses for their efforts over the past year. For team members in the U.S., these bonuses range from $300 to $700, and will be distributed starting in mid-December.
In addition to year-end bonuses, Tyson, which has a plant in Mitchell County, is offering flexible work schedules at some facilities and new and expanded benefits, services and resources for all U.S. team members beginning in 2023. With average hourly pay of around $19, plus the value of medical, dental and vision insurance, vacation and other benefits, the average total compensation for hourly team members is approximately $24 an hour, or an annual average value of nearly $50,000. This does not include overtime, an option many team members choose, or other incentives.
Additionally, Tyson is offering several development grants and benefits related to education and literacy.
Tyson also provides opportunities for education and life-skill development through the Tyson Immigration Partnership, which helps immigrant team members acquire U.S. citizenship. In 2022, Tyson strengthened its commitment to immigrant team members and has now invested more than $2.4 million to support partners like Immigrant Connection, a nonprofit organization that provides immigrants with legal services, such as employment authorization renewals and petitions for citizenship.
The company’s Upward Academy program also offers free and accessible classes in English as a Second Language, High School Equivalency, financial literacy and digital literacy. In 2022, the company expanded Upward Academy to provide free education for all U.S. team members. Tyson’s investment covers 100% of all tuition, books and fees and will include access to more than 175 programs from more than 35 top universities and learning providers. Tyson also is helping address the barriers of transportation through a growing ride-share program that provides a low-cost way to commute to work.
To read more about Tyson’s annual bonuses, click here.
For more Comp News, see our recent posts.
Comp News is brought to you by CompXL, the flexible compensation software provider that enables mid- to large-size organizations to implement competitive pay structures such as vested stock options and variable incentive pay.
