Employee Benefits, Matching Programs, and Competitive Wages
Financial Wellness is Important to Us
One of SCW’s company values is financial wellness. We want to empower our team with the knowledge and tools to achieve long-term financial stability. One third of lottery winners go broke within three to five years due to personal mismanagement of money. We want to encourage an environment that promotes good habits, reduces debt and helps provide stability. We believe that employees who are less stressed due to finances are happier and more productive.
One way that we do this is by providing three different 4% matching programs that work together to help people begin their path to long-term financial stability. Employees are able to switch between programs on a quarterly basis. Debt Repayment Program: We contribute a 4% company match on eligible debt payments made by the employee on a quarterly basis. This could be things like student loans, medical debt, or credit card debt. Debt needs to pre-date employment.
First Time Homebuyer Program: SCW provides a 4% match on eligible down payment savings made by the employee on a quarterly basis.
401k: We match up to 4% of bi-weekly contributions (dollar for dollar) if the employee contributes 5%. The plan is a safe harbor plan with immediate vesting.
We encourage employees to tackle small, high interest debt first and then choose another program that is in line with their individual financial goals.
Personal Finance as Company Goal
SCW partners with Money Management Financial Solutions, a nonprofit, to offer education in various personal finance topics coupled with individual financial counseling to our employees. Upon completion of the program, SCW employees receive a financial incentive to put towards their newly established financial goals.
Employee Finance Wellness Translates to Better Service
SCW also believes that better wages translate to better service and support. The security camera industry is currently in a race to the bottom, with production quality and customer support often being sacrificed in pursuit of lower cost products. Most other companies in our field view their service teams as an area to cut costs. This is a way to outsource labor and pay low wages, but this also at the expense of a good customer experience.
Even when support is not outsourced, substandard wages equal substandard support. An employee who is stressed out over their own financial issues can't be patient on the phone with customers. An employee without reliable transportation isn't picking up the phone at all.
Policies about Wages
We believe in competitive wages and we are committed to reviewing salaries for each position in the company on an annual basis and making adjustments to keep in line with the market.
We believe in consistent, equitable, transparent pay: everyone with the same job title has the same pay and every position has their pay explicitly stated in the job listing.
As of 2024, SCW is also committed to a current minimum wage of $20.10 per hour for any position, as we believe in providing a living wage, which is especially important for our non-remote employees.