MLGW boosts employee benefits amid aggressive hiring surge

In a recent government meeting, officials discussed significant updates regarding employee benefits at the Memphis Light, Gas and Water (MLGW) utility company. A proposal was made to increase funding for employee coverage, specifically for group term life, voluntary life, and accidental death and dismemberment insurance, amounting to $3 million. This funding will be equally shared between MLGW and its employees, with the latter having the option to elect for voluntary life and short-term disability coverage.

The need for additional funding arises from a substantial increase in hiring at MLGW. In 2022, the company hired 299 employees, followed by 511 in 2023, and an anticipated 600 hires in 2024. This surge in workforce necessitates an adjustment to the existing insurance contract, which was originally based on a lower employee count when it was bid in 2019 and renewed in 2022.

Furthermore, an additional $2 million is proposed for short and long-term disability coverage, again split between the company and employees, to accommodate the growing workforce. The adjustments aim to ensure that all employees have adequate coverage as MLGW continues to fill vacant positions.

The meeting concluded with acknowledgments of recent successful events and a call for further discussion from council members, highlighting the collaborative efforts of the board and staff in addressing these pressing employee benefit needs.