Sunstates Security Introduces Company-Wide 401(k) Match on July 1
Regional Leader Reinvests in Employee Benefits to Attract and Retain Talent
Raleigh, N.C. (PRWEB June 10, 2016)-Effective July 1, 2016, Sunstates Security will expand its company-wide 401(k) retirement savings program to include employer matching. In an industry known for razor-thin margins and minimal benefits, the move demonstrates the leadership philosophy that has driven sustained annual organic growth averaging 24% over the past five years.
“We deliver a service to our clients, which means that our success as a company depends on the men and women who wear our uniforms,” says President Glenn Burrell, who founded Sunstates Security after serving 20 years in Scotland Yard. “Their dedicated efforts, day after day, have allowed us to experience exceptional growth, and it’s only right that we look for new opportunities to reward them.”
While industry turnover rates are estimated between 100% and 400% per year, many Sunstates employees have more than five years of service. Burrell attributes low employee turnover to the company’s core values of honesty, integrity and trust, which apply equally to interactions with both internal and external customers. This approach has paid off with a client retention rate that exceeds 95% and sustained growth that has doubled Sunstates’ size in less than four years.
With the enhanced 401(k) benefit, Sunstates will match 25% of each employee’s contribution. The employer contribution will vest at a rate of 25% per year, based on years of employment. All participating employees with at least five years of service will be fully vested.
Introduced in January 2014, the 401(k) retirement savings plan is available to all employees that work 20 hours or more per week, or a minimum of 1,000 hours per year, upon completing one year of employment. Other employee benefits include tuition reimbursement and medical coverage that predated the Patient Protection and Affordable Care Act.
About Sunstates Security
Based in Raleigh, N.C., Sunstates Security provides uniformed security personnel and security consulting services to clients throughout the United States. The company is certified as a Women’s Business Enterprise by the Greater Business Women’s Council, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC).
SSS 401(k) Match