Total Rewards
Employees are our most valuable resource. At Williams, pay, benefits, career development opportunities and other programs make up our Total Rewards package. Williams’ benefits represent a significant part of your Total Rewards and help protect your current and future physical, emotional and financial health.
Williams is committed to upholding fair labor practices across our operations by providing wages that meet or exceed living wage standards. We promote a safe work environment by setting and adhering to maximum working hours, except in extraordinary circumstances, limiting excessive overtime. We ensure employees receive appropriate compensation, including paid annual leave, and cap the amount of paid annual leave that can be rolled over to the following year to encourage employees to use this benefit.
Eligibility
Williams offers a comprehensive health and wellness program to full-time and part-time employees working more than 20 hours per week. Employees who enroll in a medical plan can choose to cover their eligible dependents (e.g., legal spouse, same-sex or opposite-sex domestic partner and dependent children).
Medical Plan Options
- Two consumer-driven medical options
- One Preferred Provider Organization (PPO)
- Medical options provide for in-network preventative care and include prescription drug benefits
- Personal Health Support to ensure employees receive the most value from their benefits in times of serious illness
- Cancer Support Program
- Chronic Condition and Disease Management support a range of conditions such as diabetes, pre-diabetes, heart disease, asthma, bariatric services, weight management and more
- Maternity & Family Planning Program, which includes fertility services, healthy pregnancy program, maternity support, neonatal resources and more
- Virtual Visits – 24/7/365 access to U.S. board-certified physicians by secure video, phone or e-mail
- Access to U.S. board-certified physicians to provide a second opinion regarding a diagnosis and treatment plan
- Virtual physical therapy offering
- UnitedHealthcare creates and publishes the Machine-Readable Files containing pricing data, as required by U.S. Department of Health & Human Services, U.S. Department of Labor, and U.S. Department of the Treasury, on behalf of the Williams Companies, Inc.’s group health plans
Health Savings Account
- Eligible employees enrolled in one of the consumer-driven medical options will have access to a health savings account with an annual company contribution
Flexible Spending Accounts
- Employees may make pre-tax contributions to be reimbursed for eligible expenses
- Employees may elect to contribute to a Health Care Flexible Spending Account, Limited Use Flexible Spending Account, and/or a Dependent Care Flexible Spending Account
Dental Coverage Option
We offer affordable dental coverage which provides a wide range of preventive, basic and major restorative services.
Vision Coverage Option
We offer competitive vision coverage, including discounts for refractive eye surgery.
Emotional Wellbeing Solutions (EWS)
EWS is offered through United Behavioral Health to help manage the total well-being of our employees with options to seek care in person, virtually, or via various apps.
Voluntary Benefits
- Identity Theft
- Legal Services
401(k) Plan – The Williams Investment Plus Plan
The company provides a 4.5% fixed annual contribution and a company matching contribution up to 6%, dollar-for-dollar of your pre-tax and /or Roth contribution. Eligible compensation for The Williams Investment Plus Plan includes base pay, certain cash awards and bonuses and cannot exceed the annual IRS compensation limit (e.g., $345,000 for 2024).
Many financial advisors suggest saving at least 15% of your income for retirement which includes employer contributions. As a participant in The Williams Investment Plus Plan, if you defer at least 6% of your eligible compensation, you are generally saving 16.5% (employee contribution of 6% or more + 6% company matching contribution + 4.5% fixed annual contribution) for retirement even though you only contribute 6% of your compensation.
Employee Stock Purchase Plan
Eligible employees can purchase Williams’ common stock at a discount using after-tax payroll deductions. Enrollment in the Employee Stock Purchase Plan occurs twice a year, and the money you have set aside during each offering period is used to purchase company stock at a 15% discount based on the lower of the stock price on either the first or last day of the offering period.
* While every effort has been made to ensure the information contained in this communication is correct, if there is any omission or misstatement, the applicable legal plan document(s), policy(ies) or program(s) will control. The eligibility for any benefit will be governed by the terms of the applicable benefit plan, program or policy. The company or the applicable plan entity/committee as detailed in the applicable benefit plan reserves the right to amend, modify or terminate any plan(s) or benefit policies or programs in whole or in part at any time. The employee benefit policies, programs and plans are not individually or collectively an employment contract and do not give any employee any right to be retained in the services of the company.
Base Pay
Your base pay is cash compensation you receive for work based on your knowledge, skills, abilities and sustained level of performance. Williams uses market-based compensation benchmarking to establish competitive wages aligned with local labor market conditions and periodically evaluates compensation practices in consideration of local economic conditions and employee needs.
Williams abides by all applicable local, state, and federal laws and regulations for overtime pay for our hourly employees. We have processes in place to monitor employee working hours and compensate eligible employees for overtime in accordance with these laws and regulations.
Annual Incentive Pay
Annual Incentive Pay is discretionary compensation designed to focus on teamwork and promote organizational achievement. Your annual incentive is based on business performance in relation to enterprise goals, the incentive opportunity for your specific role and your performance. Performance is assessed by evaluating individual alignment with compliance, goal achievement and exhibition of competencies that support our core values.
Stock (Equity) Awards
These discretionary awards provide a long-term incentive to motivate and retain select employees who play a pivotal role in creating future success at Williams. They are designed to work along with other pay and benefits programs to reinforce behaviors that enhance shareholder value. Stock ownership provides a direct stake in the company’s success.
Recognition Awards
These awards reward actions above and beyond an employee’s job responsibilities that support Williams’ Core Values & Beliefs, drive business performance improvement and have a positive effect on Williams’ business objectives.
Williams provides options for you to take time as needed to stay healthy, spend time with your family and participate in activities that lead to work/life balance. We encourage employees to utilize their paid time off through policies including limits on paid time off (PTO) rollover.
We provide several resources to help you balance your work and personal life:
- Paid time off for vacation, sick days or personal issues
- Paid holidays
- Bereavement Leave
- Military Service Leave
- Paid Parental Leave
- Witness and Jury Duty
- Flexible work schedules if appropriate
- Maternity leave is covered under short-term disability benefits. Benefits are generally payable for 6 weeks following the birth of a child (may be longer if required by medical certification)
Other unpaid leaves are available for family medical, education, military leave past 12 months, personal reasons or other reasons provided under applicable law.
We’re here to help minimize the burden of unexpected events by providing income protection at no cost to our employees, with the opportunity to supplement certain coverage.
- Short Term Disability: 26 weeks of income protection at up to 100% of base pay based upon your years of service. Once 100% coverage is exhausted, you are paid 60% of base pay for the remainder of your short-term disability leave.
- Long Term Disability: coverage of 60% of your base pay; you can elect to buy coverage up to 70%
- Life Insurance: Two times your annual base pay with opportunity to purchase additional coverage
- Accidental Death and Dismemberment: Two times your annual base pay with opportunity to purchase additional coverage
- Educational assistance for full and part-time employees for technical, undergraduate and graduate coursework
- Corporate and technical training programs that support professional development
- Time off with advance supervisor approval so you can volunteer in the community where you live and work
- Relocation assistance to ease the transition to your new location. If eligible, benefits will be administered under the policy stated in your offer letter. Relocation benefits are only available once you have received notification from our relocation vendor, Altair Global.
- Adoption assistance for eligible adoption expenses
- 24-hour worldwide travel assistance to employees traveling more than 100 miles from home
- Discount purchase programs on cell phone service, auto and computer purchases