Tyson Foods Announces New Team Member Benefits

Rhea-AI Summary

Tyson Foods Enhances Workplace Culture and Team Member Wellbeing

On January 31, 2023, Tyson Foods announced significant investments and policy changes aimed at improving workplace culture and employee health. The company has committed over $20 million this year to initiatives like extended parental leave and mental health support, building on previous investments of more than $150 million in bonuses and wage increases for hourly workers. New benefits include a personalized wellbeing portal focusing on physical, emotional, financial, and social wellness. These efforts align with Tyson's goal to be a leading employer in the food industry, enhancing equity and competitiveness among its workforce.

Positive

• Invested over $20 million in employee wellbeing initiatives in 2023.
• Increased parental leave to eight weeks paid for mothers and two weeks for partners.
• Expanded educational opportunities through the Upward Academy program covering 100% of tuition, books, and fees.

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• None.

Enhancing Workplace Culture to Support Team Members Overall Health and Wellness

SPRINGDALE, Ark., Jan. 31, 2023 (GLOBE NEWSWIRE) -- Tyson Foods announced today new changes and investments aimed at further intensifying U.S. team members relationships and enhancing workplace culture. Specifically, we are making changes to U.S. based policies and practices related to healthcare and overall wellness.

The company’s new policies and investments are in addition to recent compensation benefits. Tyson recently announced it invested more than $50 million in thank you bonuses and $100 million in wage increases for U.S. hourly workers over the past year.

Tyson Foods has invested more than $20 million this year to offer longer parental leave, additional mental health support and other wellness and health plan benefits to further enhance Team Member wellbeing as part of the company’s caring and inclusive culture. The company increased its parental leave program to include eight weeks paid leave for mothers and two weeks paid leave for U.S. team members whose spouse or partner gave birth to provide bonding time with their new family member. We also continue to offer four weeks of paid parental leave for adoptive parents.

“This is yet another step that Tyson Foods is taking to show how we align our actions with our values and prioritize the health and wellbeing of our team members,” said Johanna Soderstrom, Chief People Officer, Tyson Foods. “The new offerings reinforce our commitment to ensuring we offer equitable and market competitive programs to our team members and align with our vision to become the most sought-after place to work.”

This spring, Tyson team members will also have access to a personalized wellbeing portal to help manage their health and wellbeing. The feature includes physical, emotional, financial, and social wellbeing benefits and resources our team members can access to guide them on their health journey.

Tyson also provides a whole range of attractive and competitive benefits like access to full health care on day one of employment, opportunities for education and life-skill development through the Tyson Immigration Partnership (TIP) as well as the company’s Upward Academy program, which also offers free and accessible classes in English as a Second Language (ESL), High School Equivalency (HSE), financial literacy and digital literacy. In 2022, Tyson expanded Upward Academy to provide free education for U.S. team members. The company’s investment covers 100% of all tuition, books and fees and will include access to more than 200 programs from over 35 top universities and learning providers. They are also addressing the barriers of transportation through a growing ride-share program that provides a low-cost way to commute to work at Tyson. To learn more about all the benefits Tyson Foods offers its team members, visit the Tyson Benefits page.

About Tyson Foods, Inc. 

Tyson Foods, Inc. (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under four generations of family leadership, the Company has a broad portfolio of products and brands like Tyson^®, Jimmy Dean^®, Hillshire Farm^®, Ball Park^®, Wright^®, Aidells^®, ibp^® and State Fair^®. Headquartered in Springdale, Arkansas, the Company had approximately 142,000 team members on October 1, 2022. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com.

Media Contact: Kelly Hellbusch | Kelly.Hellbusch@tyson.com |281-799-9784

Category: IR

FAQ

What new employee benefits has Tyson Foods announced in January 2023?

Tyson Foods announced over $20 million in new benefits including extended parental leave, enhanced mental health support, and a personalized wellbeing portal.

How much has Tyson Foods invested in employee bonuses and wage increases over the past year?

Tyson Foods has invested more than $150 million in bonuses and wage increases for U.S. hourly workers.

What is the parental leave policy at Tyson Foods as of January 2023?

As of January 2023, Tyson Foods offers eight weeks of paid leave for mothers and two weeks for partners, along with four weeks of paid leave for adoptive parents.

What does the personalized wellbeing portal at Tyson Foods include?

The personalized wellbeing portal includes resources for physical, emotional, financial, and social wellbeing to support Tyson team members.