Employee Benefits Summary For Eligible Employees – South Africa
The following benefits are available to TIBCO employees with a South African hiring Company, subject to the written agreement of "standard employment terms and conditions" available from the EMEA Human Resources Department.
Health Benefits
- Private Medical Insurance: Group benefit which provides access to the Private Healthcare Sector through Momentum Health. TIBCO funds the monthly premium up to a maximum of ZAR 1585.
- Eye Sight Test Reimbursement: Annual reimbursement of sight tests in accordance with Health & Safety (Display Screen Equipment) Regulations.
- Business Travel Insurance: Access to emergency medical treatment to employees travelling at TIBCO's request. It also offers additional insurance cover associated with business travel.
Financial Benefits
- Pension and Risk Benefits Plan: TIBCO contributes a sum equivalent to 7.5% of an eligible employee's basic monthly salary into a designated pension plan, subject to an employee contribution of at least 3%. The employer contribution includes a contribution towards life insurance and long-term disability cover.
- Employee Referral Program: Financial incentive for the recommendation and subsequent hiring of a new recruit.
- Salary Advance: New employees of TIBCO may request a salary advance of up to 50% of their monthly base salary during the first month of employment (to be repaid over a period of three months).
Leave Benefits
- Annual Leave: 20 days (rising to 23 with service) paid leave per annum pro-rata.
- Public Holidays: TIBCO recognises the officially published regional public holidays in South Africa.
- Sick Leave: Up to two months' discretionary sick pay in a twelve month period.
- Parental Leave: Statutory Pay and Leave arrangements
Other TIBCO Benefits
- Professional Subscriptions: Reimbursement of subscription charges to job-related professional affiliations.
- Education Assistance: Financial assistance towards tuition fees and associated costs upon the successful completion of a job-related course and/ or achievement of a professional qualification. (Subject to management approval).
- Core Values Award: A reward and recognition program whereby employees may be nominated for an award of $1,000 and a core values certificate.
- Patent Incentive Program: Cash bonus compensation upon the issuance of a patent.
- Passport & Visa Renewal Fees: Reimbursement of passport and / or visa renewal fees.
Additional Role-Specific Benefits (Confirmed individually in writing)
- Company Bonus Plan: Discretionary performance-related cash bonus awarded annually.
- Mobile Telephone: Company-provided cellular phone available to mobile staff.
- Employee Stock Option Plan: Certain new employees of TIBCO receive stock option grants, which vest over a four-year period.
The terms and conditions of any of these benefits may be amended or withdrawn in whole or in part from time to time. All benefits are subject to the rules of the scheme and local taxation regulations and limits presently in force, unless otherwise stated.
