Environmental, Social, and Governance
At Genesis Energy, we believe our employees are our most important asset and the cornerstone of our organization. We take steps to attract and retain talented people to safely operate our assets, foster customer relationships, and achieve our long-term goals. We are committed to employee retention and we encourage our employees to maintain long-term careers at Genesis Energy.
Our compensation programs are integrated with our overall business strategies and management processes to incentivize performance, maximize returns, and build shareholder value. We participate in market surveys as well as work with consultants to benchmark our compensation and benefits programs to help us offer competitive remuneration packages to attract and retain high-performing employees.
To further support our employees, we offer a comprehensive and affordable benefits program that includes, medical, dental, vision, life insurance, and disability protection, along with a generous retirement savings plan, including up to six percent matching. We also provide tuition reimbursement, an employee discount program, as well as options for Legal Shield and identity protection. Our benefits package options may vary depending on the type of employee and date of hire. Additionally, we continuously look for ways to improve employee work-life balance and the well-being of our employees and their families.
Genesis recognizes the right to organize and the right of unions to represent and negotiate on behalf of workers. We respect the rights of all workers to form and join unions of their own choice and to bargain collectively.
As of December 31, 2021, approximately 600 of our employees were covered under collective bargaining agreements. These collective bargaining agreements cover wage increases and other benefits, including the defined benefit pension plan, the post-employment benefit plan and the enhanced 401(k) retirement savings plan. We consider our relationship with the union strong, and our relationship with our employees, including those covered by collective bargaining agreements, to be in good standing.
Genesis Energy employs more than 1,900 individuals and is an equal opportunity employer. We believe that eliminating barriers to employment results in a more plentiful recruiting pool, diverse perspectives to problem solving, and stronger teams. We maintain a positive work environment by striving to create a strong culture of diversity and inclusion, supported by both our Code of Business Conduct and Ethics and our employment practices.
We have policies in place that reinforce our commitment to diversity and inclusion within the workplace. Our employee handbook includes equal employment opportunity commitments and nondiscrimination and anti-harassment disclosures, which communicate our expectations with respect to maintaining a professional workplace free of harassment. We prohibit discrimination or harassment against any employee or applicant on the basis of sex, race, ethnicity, or any other protected categories. We are committed to a harassment free workplace, which is further supported through training which covers multiple topics including unconscious bias topics.
We contract with a third-party provider to target recruitment of diverse candidates, including veterans, people with disabilities, minorities, and women. Diversity data, as self-reported by employees, for the past three years is presented below (data is current as of December 31st of each year):
The data appearing above is an approximation and is expected to fluctuate and change year over year. It should not be interpreted as being indicative of trends or guarantees of future results. Genesis Energy expressly disclaims, any representation or warranty as to the accuracy or completeness of such data. The data may be modified, updated, changed, deleted or supplemented from time to time without notice.
Our success as a company is measured by the successful performance of our employees in their respective roles. Thus, it is our policy to properly train and equip each employee to perform his or her job functions safely and in compliance with all laws, regulations, and internal procedures.
We develop our employees through performance management processes, regular coaching and supervisory and leadership training while also offering a tuition reimbursement program. Our annual performance management cycle enables managers and employees to collaborate to set performance goals and development objectives that align to business objectives. We also provide in-house health and safety training and emergency response training. Employee attendance at external workshops, conferences and other training events is also encouraged.