- GRI Items:
Compensation and Benefits
A critical component of Baxter's vision is to be a rewarding place to work and develop. Central to this commitment, Baxter provides its employees with comprehensive compensation and benefits programs. The company's global total compensation philosophy is to provide market-competitive pay and benefits while rewarding employees for strong individual and business performance.
Baxter's total compensation package includes base salary and may include incentive pay, such as cash bonuses and stock-based compensation. It also includes comprehensive benefits, which vary by region and country, to help employees meet their healthcare, income-protection, financial, retirement and time-off needs. Through the Employee Stock Purchase Plan (ESPP), Baxter employees can share in the company's growth. The ESPP allows employees to purchase Baxter common stock each month at a 15% discount through convenient payroll deductions with no brokerage fees, subject to certain limitations.
As part of Baxter's commitment to employee health and wellness both on the job and at home, Baxter offers many programs and resources to help employees meet their personal goals and family needs (see Work/Life). BeWell@Baxter, the company's health and wellness effort, is designed to help employees stay well through education and prevention, take action to make healthy lifestyle changes and deal with chronic or acute conditions.
The Compensation Committee of Baxter's board of directors, which consists solely of independent, non-employee directors, determines executive officer compensation each year based on an assessment of competitive compensation market data, business conditions and company and individual performance. See Baxter's 2012 Proxy Statement for more details.