Business News

Lexmark recognized by national organizations for workplace flexibility and effectiveness

Thursday 02. October 2008 - Lexmark International, Inc. (NYSE:LXK) was named a winner of the 2008 Alfred P. Sloan Award for Business Excellence in Workplace Flexibility, distinguishing Lexmark as a leading practitioner of workplace flexibility in Lexington and across the nation. Lexmark was recognized at an awards ceremony on Tuesday, Sept. 30, at the University of Kentucky's Hilary Boone Center.

The Alfred P. Sloan Awards for Business Excellence in Workplace Flexibility are part of the When Work Works project, an ongoing initiative of Families and Work Institute, the Institute for a Competitive Workforce – an affiliate of the U.S. Chamber of Commerce – and the Twiga Foundation. Through When Work Works, these partner organizations provide research, resources and recognition to employers nationwide and share the results of research on creating effective and flexible workplaces that meet the needs of the 21st century. Lexmark is one of eight Lexington companies to win the award.

Lexmark’s Flexible Work/Life Programs enhance operational efficiency, promote business goals and enrich the quality of life for employees. The Lexmark Telecommuting Program allows U.S. employees to work from an alternate workplace. The Lexmark Part-time Program allows U.S. full-time employees to work a reduced schedule, with a minimum schedule of 20 hours per week. Lexmark also offers a paid Volunteer Time Off Program to encourage employees to actively participate in the life of their communities by volunteering their time, talents and resources. Full-time employees qualify for up to 24 hours of volunteer time off per calendar year. Part-time employees qualify for up to 12 hours per calendar year.

The Sloan Awards recognize organizations that are dedicated to making work “work” for both the employer and the employees. Representing employers of all sizes and types, winners of this prestigious award not only offer excellent workplace flexibility practices, but also use flexibility as a strategic business tool to enhance organizational effectiveness while benefiting employees.

“Working to bring balance between the professional and personal lives of our employees is what we strive to achieve,” said Jeri Isbell, vice president, Lexmark human resources. “Winning this award lets us know we are doing the right thing to reach our goals.”

“Employers must develop new recruitment and retention policies. Unprecedented conditions – a multi-generational workforce, a shrinking labor pool and an increasing demand for skilled workers – dictate that they do so,” said Greg Roth, senior manager of Workforce Education Programs for the U.S. Chamber of Commerce’s Institute for a Competitive Workforce.

Applications for the Alfred P. Sloan Awards were open to all organizations in the greater Lexington area with more than 10 employees that had been in business for at least one year. Applicants were evaluated in a rigorous two-step process, first comparing the employer’s application to nationally representative data from Families and Work Institute’s National Study of Employers, and then corroborating the employer responses through a survey of employees.

“Sloan Award winners have put into practice their bold ideas about how to make work work in the 21st century, and they have shown how they can support the needs of their employees while also making their organizations more effective and successful,” said Ellen Galinsky, president of Families and Work Institute. Lexmark will be featured in the 2009 issue of the Guide to Bold New Ideas for Making Work Work, published by Families and Work Institute.