2024 ESG Report FINAL - Report - Page 61
People
3. Financial Well-Being and Rewards
Wellness resources include an on-site
昀椀tness center at many Valero locations,
and a 昀椀tness subsidy for employees at
U.S. sites without gyms.
Fitness Centers, Subsidies and
Online Resources
Equipped 昀椀tness centers
are available on-site at
most major U.S. locations,
including a full-time
昀椀tness staff at company
headquarters.
99% of employee
survey respondents
strongly believe
Valero’s corporate
Fitness Center is a
valued bene昀椀t.61
Additionally, Total Wellness programs and
resources are designed to support the ongoing
physical health goals of our employees and to
provide easy access through in-person and virtual
means.
Valero Child Care Center (or stipend
for childcare services)
The children of Valero employees are an important
extension of Team Valero. Parents have access
to state-of-the-art, licensed and accredited
childcare centers, either on-site or within the
employee’s local area. Back-up child care and
tutoring services are also available through a
Valero partnership.
Attracting and retaining the
$336 million in
best people in our industry
support of 昀椀nancial
requires a layered and uniquely
security and
personal approach to 昀椀nancial
retirement in 2023.
stability. Valero’s compensation
and 昀椀nancial wellness strategy greatly supports these
objectives, providing motivation, rewards and investment
opportunities for an exceptional workforce.
Generous 401(k) Match - 95% of Eligible U.S.
Employees Enrolled in 401(k) Plan in 2023
Valero is proud to provide an excellent retirement savings
plan that, if utilized to the fullest, helps provide signi昀椀cant
昀椀nancial security for employees later in life. For the
majority of our U.S. employees, the available company
match under the primary savings plan is up to 7% of
eligible pay and vests immediately.
Company-Sponsored Pension Plan
As an added layer of 昀椀nancial security, the majority of U.S.
employees are automatically enrolled in an exceptional
pension plan after one year of service. Vesting reaches
100% after three years of service.
Annual Merit and Bonus Awards
The Annual Merit Award process adjusts eligible
employees’ salaries for market competitiveness,
performance and relativity to peers. Managers are able to
ensure equitable pay for all team members. Discretionary
Annual Bonus Awards recognize employees who
contribute to Valero’s success, and serve as a pathway to
review employee performance over the past year.
Other
Medical specialist consultations, on-site
mammograms, mother’s rooms or designated
areas and nursing pods.
Valero Aurora Ethanol Plant
Environmental, Social and Governance Report •
61
