Compensation and benefits
Swedish Match compensation philosophy and practice is to offer competitive salaries and flexible benefit programs that meet the needs of our employees.
The objective of these principles is to ensure that the Company is able to recruit and retain employees with appropriate skills and qualifications for their respective duties.
Swedish Match compensation philosophy and practice is to offer competitive salaries and flexible benefit programs that meet the needs of our most important assets – our employees. The benefit package includes internally equitable and externally competitive salaries, as well as such benefits as paid time off for holidays and vacations, insurances, retirement benefits and support to various other quality of life programs.
Our general view on global gender pay gap analyses
At Swedish Match, we generally have a pre-set salary range for each position, which systematically decreases the risk of inequality of pay. We conduct an annual gender pay gap analysis in our larger markets, such as Sweden, but believe that a global gender pay analysis would provide quite limited additional value compared to the work effort and data quality. In some countries where we operate, we only have a small number of employees which provides a very limited number of comparable positions to analyze. Furthermore, due to differences in local pay practices, the salaries for comparable positions and the overall requirements for this type of analysis differ a lot between the countries where we operate. In the US, for example, the focus on equal pay is broader and include criteria such as ethnicity, while in Sweden, this is not possible due to privacy rules.
Swedish Match Welfare Benefit Plan
As of July 1, 2022 Transparency in Coverage (TIC) regulations require health insurers and group health plans to create machine readable files (MRFs) that contain (1) the in-network provider rates for covered items and services (see “in-network-rates” in filename); and (2) the historical out-of-network allowed amounts and billed charges for covered items and services (see “allowed-amounts” in filename). The files must, in part, also include plan option/coverage identifier information; billing codes to identify items and services for claims processing; and all applicable rates. The files must be made available on an open access website.
Swedish Match sponsors the Swedish Match Welfare Benefit Plan, a group health plan. Linked below are the MRFs for this plan.