Hydraquip is committed to developing talent. Our unique, family-oriented culture promotes a friendly work environment, and we are committed to providing the tools and training needed to help all employees grow professionally and personally. Our rotational internships expose students to a wide variety of departments and provide excellent learning opportunities. We are all owners and work together to achieve high growth goals.
An ESOP is an Employee Stock Ownership Plan, which is a unique retirement program that allows virtually all employees to own stock in the company. When you join Hydraquip or any of its companies, you automatically begin investing in your future. We are a high growth company committed to training our employee-owners to develop their skills and advance in their careers. You’ll get to see this value each year on your ESOP certificate, which is generally distributed in June of each year.
- Employees are eligible for vesting in the ESOP after 1 year of service
- Stock shares are allocated based on salary
- Full time employees are fully vested after 6 years at the company (20% per year)
Not all ESOPs are created equally. In other ESOPs, employees may only own 30% or 70% of the company. At Hydraquip, we are very proud to be 100% employee owned.
We believe our culture of employee ownership is the main reason for our success. Besides the monetary benefits of an ESOP, the company culture and workplace environment is improved in many ways. As an employee owner, the employees share directly in the successes of the company which creates a culture of hard work, accountability, and integrity. We also take the opportunity throughout the year to celebrate our employee ownership, including a National Employee Ownership Month recognized in October.
- 10 holidays per year (one holiday is a personal day for use at employee discretion)
- New Year’s Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving + Day After, Christmas Eve & Christmas Day
- A new employee is initially provided 17 total PTO days (builds with each year of service).
- Every employee has 5 “PTO Plus $” days as part of their total yearly PTO which will not roll over at end of calendar year, but be applied to a cash bonus if unused.
- All regular PTO days can roll over to allow 40 hours more than your total yearly allotment.
- Paid parental leave for the birth of a child or placement of a child for adoption or foster care.
- 65% of premium paid by company
- High and Medium plans available
- High Deducible Plan available with ($1200 individual, $1500 family) contribution to HSA from Company
- 100% of premium paid by company for employees only
- Company pays premium
- Company pays premium
- Company pays premium for $50,000 of coverage – further coverage also available
- Medical reimbursement and dependent care
Available based on individual employee qualification and manager approval
Company matches 50% of up to 8% of employee contribution