Strong financial performance drives workforce, community investments
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
On the heels of announcing record financial results for 2017, Unum
(NYSE: UNM) today said, in addition to the existing all-employee annual
bonus program, it is investing in its people and communities with a new
paid parental leave benefit for both mothers and fathers in the U.S.;
enhancements to the compensation program so that all U.S. employees earn
at least $15 an hour; and an additional $1 million in charitable
contributions this year in support of the communities where Unum
employees live and work.
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Rick McKenney, Unum President and CEO (Photo: Business Wire)
“These investments reflect our values and recognize the significant role
that everyone at Unum plays in delivering for our customers,” said Unum
President and CEO Rick McKenney. “2017 was a great year, and one that
would not be possible without the dedication of all of our people.”
With the new parental leave benefit, which will take effect later this
year, eligible employees will have six weeks of paid leave to care for a
newborn, or a child placed through adoption or foster care, at any time
during the 12 months following birth, adoption or fostering.
“Paid parental leave allows parents to spend valuable time with children
at a crucial point in their lives and can ease the transition back to
work,” McKenney said. “Importantly, it aligns with the leave benefits
that we provide for many of our customers.”
Additionally, Unum is enhancing its compensation program so that all
employees earn at least $15 an hour across the U.S. The change will show
up in paychecks on March 30.
“This recognizes the significant role that everyone at the company plays
in delivering for our customers,” added McKenney. “We strive to be the
employer of choice in each of our communities.”
Making an additional $1 million in charitable contributions in support
of Unum’s local communities advances one of the company’s core beliefs –
the critical importance of giving back to its communities through
donations of time, talent, and financial support.
“These investments will allow us to have an even greater impact in our
support of education and other initiatives that are important to our
people and our communities,” McKenney said.
Unum and its employees contributed more than $12.4 million to charitable
organizations in 2016.
ABOUT UNUM GROUP
Unum Group (www.unum.com)
is a leading provider of financial protection benefits in the United
States and the United Kingdom. Its primary businesses are Unum US,
Colonial Life, Starmount and Unum UK. Unum’s portfolio includes
disability, life, accident and critical illness, dental and vision
coverage, which help protect millions of working people and their
families in the event of an illness or injury. Unum also provides
stop-loss coverage to help self-insured employers protect against
unanticipated medical costs. The company reported revenues of $11
billion in 2016, and provided $6.9 billion in benefits.
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Unum Group
Kelly Spencer, 423-294-4508
Toll free: 866-750-8686
Kspencer2@unum.com
Source: Unum Group