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A Positive State of Well-Being

Friday, 24 May 2024 07:15 AM

Trane Technologies

NORTHAMPTON, MA / ACCESSWIRE / May 24, 2024 / Trane Technologies
A Q&A with Trane Technologies' Lynn Castrataro on our approach to align well-being offerings into a way of life and match company culture.

Lynn Castrataro

Well-being offerings are not just a benefit for employees - they're an expectation. In fact, in a recent study, 9 out of 10 employees said that well-being offerings impacted their decision-making when selecting an employer.

But how can companies differentiate between offering well-being programs that simply meet expectations and well-being programs that are meaningful and effective? The answer may be how embedded well-being is in a company's culture.

In an interview with Lynn Castrataro, vice president, Total Rewards, for Trane Technologies, we explored how this approach can help employees truly thrive.

What differentiates well-being offerings at Trane Technologies?

Lynn: In the last five years, wellness programs have developed tremendously because runaway healthcare inflation outpaced regular inflation. Companies have also realized health is not just physical; it is also about social and emotional well-being.

We have focused on "total health" from the beginning. Physical, mental and financial wellness have been pillars of our well-being portfolio for more than a decade - it is who we are, how we manage the company and how we treat our people every single day.

I'm proud to say that today, holistic well-being is completely embedded in our culture. In fact, we have organically grown a network of nearly 300 team members who volunteer as wellness champions to share health and wellness information with their local teams, and our executive leaders sponsor well-being programs for team members around the world.

All this took time, care and thought to build, and it will continue to take the same time and care to sustain.

How is the company evolving offerings for the future?

Lynn: While our emphasis on total health never changes, we know employees' needs evolve. That's why we conduct listening sessions with team members all around the world to understand what they need to be able to thrive within their families and their communities. These conversations help us create offerings that matter to them - whether it's financial saving opportunities, family-building support or mental health care.

One area we have evolved in the last five years is equity. We looked at the full landscape, making sure we are being inclusive and our programs reflect our diversity and inclusion strategy. Our goal is to have the right offerings to attract a truly diverse population, no matter the gender, race or sexual orientation.

(Read more about how Trane Technologies expanded benefits to include domestic partners and their dependent children regardless of gender identity in our 2023 ESG Report).

With increasing awareness on Mental Health, what are the greatest employee demands/trends regarding mental health support and services? How is Trane Technologies responding?

Lynn: We've long offered an Employee Assistance Program for employees and their families, even if they're not enrolled in our company benefits, so they can access support anywhere, any time of day.

Two years ago, we also realized there was an opportunity to start an enterprise discussion around mental health to foster an inclusive environment and break down barriers or misperceptions. Since then, we shared stories from team members around the world - which inspired countless others to step forward and talk openly about their own well-being.

More recently, managers and employees have been asking for help to recognize when their colleagues are struggling. We partnered with the American Psychiatric Association Foundation's (APAF) Center for Workplace Mental Health to customize and launch a training program for our employees globally. The training explains what distress signs to look for, how to engage and how to know when to escalate a concern. The fact that managers and employees asked for this training is indicative of our uplifting culture - our people really care about each other and their overall well-being.

What are some other ways the company's programs have positively impacted people?

Lynn: We are always listening to our global team members and seeking unique ways to help them thrive financially, physically, socially and mentally:

  • Our Helping Hand Fund helps employees impacted by natural disaster and other personal hardships. Since 2017, the Helping Hand Fund has provided nearly $4.5 million in critical relief funding to almost 3,000 employees around the world.
  • Over the past two years, we've been listening, learning and testing childcare solutions in our U.S. manufacturing plants to address the accessibility and affordability concerns of working parents.
  • This year, we also launched a Student Debt Program, which treats your monthly student loan payment like a retirement contribution and provides a match that goes into your 401(k) after the end of the plan year.

One of the promises we make to our employees is to help them thrive at work and at home. We know the programs employees need to thrive will vary based on where they are on their own journey. But one thing is universal: when employees feel cared for by their company, that care is extended to their team members, peers, communities and customers. That "cycle of care" is why well-being is such a critical part of our uplifting, engaging and inclusive culture - and one of the ways we will continue to drive it forward for the future.

Like we always say: when we dare to care, we boldly go.

Learn about all the ways that Trane Technologies is helping team members thrive - read the company's 2023 ESG Report.

View additional multimedia and more ESG storytelling from Trane Technologies on 3blmedia.com.

Contact Info:
Spokesperson: Trane Technologies
Website: https://www.3blmedia.com/profiles/trane-technologies
Email: [email protected]

SOURCE: Trane Technologies

Topic:
Environmental, Social and Governance
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