Are you considering joining Lockheed Martin and wondering about their vacation time policy? Look no further! In this article, we’ll cover everything you need to know about vacation time at Lockheed Martin.
Accrual of Vacation Time
At Lockheed Martin, vacation time is accrued based on your years of service with the company. For the first five years, employees accrue 120 hours per year, which amounts to three weeks of paid vacation time.
After five years, employees accrue 160 hours per year, which amounts to four weeks of paid vacation time.
Additionally, employees have the option to purchase up to 40 hours of extra vacation time each year.
Carryover Policy
Lockheed Martin’s carryover policy allows employees to carry over up to 240 hours (or six weeks) of unused vacation time from one year to the next. However, any unused vacation time exceeding this limit will be forfeited.
Paid Time Off (PTO)
In addition to vacation time, Lockheed Martin offers Paid Time Off (PTO) which can be used for sick days or personal emergencies. The amount of PTO accrued depends on your years of service with the company and ranges from 80-120 hours per year.
Holidays
Lockheed Martin observes ten holidays each year where employees are paid for the day off. These holidays include New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day among others.
Conclusion
In summary, Lockheed Martin offers a generous vacation policy that rewards employees for their tenure with the company. With up to four weeks of paid vacation time each year plus the option to purchase additional hours and a carryover policy that allows accumulation up to six weeks; it’s clear that Lockheed Martin values its employees’ work-life balance. In addition to vacation time, PTO and paid holidays ensure that employees have ample time off to rest and recharge.