10 Abbott Laboratories

In Search of the Best and the Brightest

Number of undergraduate campuses where the employer actively recruited during the 2005-06 school year: 25

Number of undergraduate campuses where the employer extended entry-level job offers to graduating seniors: 25

Number of applicants from all sources (on-campus recruiting, job boards, company Web site, etc.) for entry-level jobs in calendar year 2004: 25000

Number of applicants from all sources for entry-level jobs in calendar year 2005: 25000

Entry-level hires in calendar year 2004: 1550

Entry level hires in calendar year 2005: 1550

Percentage of 2004 entry-level hires who were former undergraduate interns: 34

Percentage of 2005 entry-level hires who were former undergraduate interns: 30

Percentage of 2006 entry-level hires (to date) who were former undergraduate interns: 30

Note: Estimate.

The three most important characteristics for entry-level applicants:

1-Leadership skills
2-Communication Skills
3-Analytical skills

The Freshman Class

Percentage of new hires from calendar year 2005 who are minorities:33

Percentage of new hires from calendar year 2005 who are female: 53

Percentage of 2005 entry-level hires with degrees in the following areas of study:

Business: 9
Engineering: 3
Liberal Arts: 5
Other: 83

Note: Other includes entry level hires with science and computer science degrees.

Show Me the Money...and the 401(K)

Average annual base salary (excluding overtime, bonus, and other compensation) for entry-level employees hired since Jan. 1, 2006: $50,000 to $54,999

Percentage of new entry-level hires since Jan. 1, 2006, with annual base salary in the following ranges:

Less than $35,000: NA
$35,000 to $39,999: NA
$40,000 to $44,999: NA
$45,000 to $49,999: NA
$50,000 to $54,999: NA
$55,000 and above: NA

Did half or more of all entry-level hires since Jan. 1, 2006 receive a signing bonus? No

Are entry-level hires eligible for performance bonuses in their first year on the job? Yes

Percentage of 2006 entry-level hires employed on an hourly basis (eligible for overtime): 0

Percentage of 2006 entry-level hires employed on a salary basis (not eligible for overtime): 100

Does the employer reimburse employees for educational expenses? Yes

If so, are employees eligible for educational reimbursement immediately upon hire? No

Note: New college graduates typically not eligible for tuition assistance until after one year.

Number of paid vacation days new hires receive:

In their first year on the job: 15
After 3 years: 15
After 5 years: 15
After 10 years: 15

Do entry-level hires have access to an employer-sponsored health plan? Yes

Do employees pay part of the cost through payroll deductions? Yes

Does the health plan provide dental coverage? Yes

Does the health plan provide vision coverage? Yes

Do entry-level hires have access to a 401(k) savings plan? Yes

If so, number of months employee must work before becoming fully vested in the 401(k): 24

Maximum company match as a percentage of salary: 5

Percentage of salary employee must set aside to receive maximum company match: 2

Are entry-level hires eligible for an employer-funded pension? Yes

If so, number of months employee must work to become fully vested in the pension plan: 60

Are entry-level hires eligible for a profit-sharing plan? Yes

Number of months employee must work to become fully vested in the profit-sharing plan: 0

Annual paid holidays: 8

Do employees receive paid time off for religious observances? Yes

Number of days per year allowed for religious observances: 3

Number of paid sick/personal days entry-level hires receive in their first year on the job: As needed.

Is flex time an option for entry-level employees: Yes

Paid maternity leave (in days) for employees on the payroll:

Less than a year: from 30 to 40 days
3 years: from 30 to 40 days
5 years: from 30 to 40 days

Does your organization match charitable gifts made by employees? Yes

Does your organization pay relocation expenses for new hires? Yes

Note: Under certain circumstances.

Employees receive discounts for:

Car rentals: Yes
Cell phone/services: Yes
Cultural events: Yes
Gym memberships: Yes
Insurance: No
Publications: Yes

Cubicle Culture

Average number of hours worked per week by entry-level hires, including overtime: 40

Does the average vary depending on business unit or department? NA

Does the organization periodically monitor employee e-mail? No

Does the organization periodically monitor employee Web usage? Yes

Note: Blocks access to inappropriate web sites

Typical dress code for new hires: Business Casual

Does the organization sponsor employee volunteer opportunities? Yes

Employee day care is: available at most locations

Fitness facilities are: available at most locations

Training and Mentorship

Does this organization have a formal orientation program that is required of all new hires? Yes

Number of days the program lasts: 1

The program includes: NA

The program also includes: Company values and vision, community commitment, location-specific information, safety, integrity, and code of conduct

Average amount spent on training, per new hire, in calendar year 2005: NA

Does this organization have any formal leadership or management development programs for entry-level employees that last a year or more? Yes

The program selected to describe in further detail: Abbott Professsional Development Program

Do entry-level job candidates apply directly to this program? Yes

If not, eligibility is determined by: NA

When are new hires first considered eligible: Immediately

Is the program rotational? Yes

Number of locations or business units the employee spends time at: from 3 to 6

Length of program: from 104 to 156 weeks.

Note: Depends on job function

Percentage of employees offered permanent positions after completing the program: NA

After completing the program, do employees who are offered a permanent position receive an automatic raise? NA

Typical raise: Up to 5%

Does this organization have a formal mentorship program? Yes

If so, Percentage of entry-level hires who participate in the mentorship program: NA

Note: Mentoring programs are prevalent throughout the organization.

Looking Ahead

Three-year retention rate: 89.2%

Note: Based on involuntary exist only, between 2003 and 2006.

Five-year retention rate: 82%

Merit raises are determined by: Performance

Date at which most entry-level hires are eligible for their first merit raise: , Next merit review date

Promotions are determined by: Performance, Ability, skill set, experience, potential, Other

Date at which most entry-level hires are eligible for their first promotion: One-year anniversary

Frequency with which entry-level hires are formally evaluated: Annually, Employees get ongoing feedback throughout the year

Three most important performance measures for entry-level hires:

1-Leadership Ability
2-Creativity
3-Team Player

Minimum tenure (in years) required in one position before most entry-level employees are eligible to apply for another, including lateral transfers: 1

The following rules apply to such transfers: Must be given an "achieved expectations" rating or better on performance review

Number of employees at or above the level of vice-president: 308

Of those employees, the number who have been with the organization for 20 years or longer: 104

Age of the youngest employee at or above the level of vice-president: 35

Number of years he/she has been with this organization: 13