Our employee benefits

We're at our best when you're at yours
For our company to perform at its best, our people must be at their best. At the heart of our competitive
compensation, benefits, health, and wellness programs is our mission to improve our employees' lives in balancing
work responsibilities with the demands of personal and family life. Total rewards at Philips are comprised of
fixed elements (such as Base Pay & Benefits) that provide stability, and performance elements
(such as Annual Incentives & Long-Term Incentives) that give additional earnings potential.
Our plans are assessed on an ongoing basis to ensure Philips is well-positioned in the markets we serve. ​​​​​​​

Total Rewards highlights
  • Total reward package designed to attract, motivate, and retain.
  • Regular benchmarking to ensure market competitiveness.
  • Pay for performance philosophy.
  • Culture of health and well-being.

Compensation Overview:

Well-designed and executed compensation plans represent a major component of Philips' competitive advantage in the global market. We align compensation directly with performance to encourage superior business performance and to align employee and shareholder interests. 

How do we ensure competitiveness?
  • We regularly perform market reviews of our competitors' compensation data to ensure we are competitive. While a market review is useful as a general indicator of the market, each employee's salary will be influenced by factors such as performance and experience.

Paying for performance
  • In addition to regular benchmarking, Philips runs an Annual Compensation Review process to acknowledge employee performance, reinforce Philips Behaviors, and keep pace with the market. At Philips, our success is driven by a growth and performance culture. The key objectives of Annual Incentives are to build stronger links between pay and individual performance and reward employees for their contribution to business results.

Work/Life balance
Leave days
A diverse array of leave options are available, including wellbeing day, birthday leave, and lifestyle leave. You can priortise your personal needs and maintain a healthy work-life balance.
New parents
We provide 18 weeks of paid parental leave for primary carers, followed by a transition period at conclusion of parental leave are available to support your growing family.
Oxygen Friday
Pause, Connect, Develop. With fewer meetings, Oxygen Friday allows you for more time to upskill, share feedback, connect with colleagues, and focus on priorities.
Philips Cares
Paid volunteer time for employees.

Career health
Philips University
Unlimited access to a wide range of education and learning topics, such as leadership development, LEAN certification, personal skills, and functional excellence, among many others.
Further education
Financial assistance and study leave is provided to help you develop academic passions in line with your role and career journey at Philips.
Mentoring program
Mentoring fosters learning by tapping into our organization's expertise. Explore Philip's diverse mentorship programs for personal and professional development.
International mobility
Opportunities for international assignments to discover new cultures, expand professional horizons, and foster global connections.
Recognition@Philips
Recognition@Philips empowers you to send Peer-to-Peer recognition, celebrating your colleague's contributions and exceptional work.
Service awards
We celebrate and recognize dedicated service marking every 5-year milestone with Philips

Physical health
Employee Assistance Program
Telus Health, our EAP partner, is on hand to provide free support to help you manage life's challenges.
Physical activity allowance
Allowance provided for you to engage in physical activities of your choice.
Annual flu vaccinations
Free flu vaccincations are available for you to stay well all winter.
Thrive at Philips
A dedicated mental health and wellbeing platform equipped with an array of resources to support your journey.
Vision plan
Get a range of discounts on glasses for you and your family.

Financial health
Return to work support
Philips provide Return to Work financial support for childcare costs.
Parental leave Superannuation/ Kiwi saver
Philips will continue to pay your superannuation / kiwi saver during parental leave.
Employee store
Get discounts off available Philips products.
Financial workshops
Mercer provide learning and webinars periodically each year to support and help advice on your financial goals

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