The 13 Best Things to do Before You Leave Sysco's Payroll

Losing your job is a catastrophic event for many folks and the people around them. While these times may seem like the lowest of lows, it is advised to refrain from making abrupt decisions that could further drive you down. Here are a few tips to consider before leaving Sysco.

1-  BEFORE YOU LOSE YOUR JOB , open a line of credit at your bank or credit union. In addition, we advise you to open at least one credit card, or increase the credit limit on card(s) you already have. It is exceedingly hard to get a loan, get a line of credit or open a credit card after you lose your job. As you would expect, banks almost certainly do not want to lend money to people who are unemployed and since you don’t know how long it may take to find your next job, nor what emergencies may come up in the future, it’s wise to consider a back up plan for how you can access cash if need be. Though subtle, it is really important and wise to do, so don’t discount it. You won’t realize it probably, but many of you have never had a low credit score, or NOT been able to get a credit card, or a loan. As many of you are used to earning money your whole life, it’s something you just would never even consider. When you are unemployed, your credit rating and ability to get credit will almost certainly take a hit.

2-  Build your resume and skills list using Career Path.  Once your resume is polished, get on LinkedIn to pursue opportunities and connect with employers, friends, or even old coworkers. In addition, there should be some helpful posts located in the T-Space “Surplus Support” group with information on ways do this more easily

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3-  Seek out and copy all Surplus Notifications.  Take the extra step and print all your Surplus Notification materials, while also saving them as a PDF so you have a backup ready.

4-  Keep a journal and jot down any thoughts , information, or really just anything that you want to take note of. Journal keeping is a great way to deal with these times. Not only does it help keep track of crucial information, but it helps keep tabs on discussions you have with any superiors regarding your surplus activities, and impending layoff. When stressed, it’s just good to keep good, accurate notes, with dates and times of discussions and who the participants of those discussions are.

5-  Ask why and resolve anything you’re uncertain about.  I’ve spoken with numerous people involved in this situation and have encountered an alarming amount of people that are STILL wondering what the criteria was that dictated their place the surplus list. Rather than letting this simmer in your mind, it’s smart and sometimes relieving to ask your supervisor or leadership team what the decision criteria was.

6-  It’s also recommended to make a list  of those around you whom you know are on the same boat as you, the surplus list. It is wise to remain in touch, support each other or just know who’s been cut. Get on Linkedin and connect with those close to you. You may feel upset or embarrassed, and your instinctive reaction may be to run away and hide. Confiding in positive-minded family, friends, former colleagues , and even career counselors and support groups can make a huge difference for you, and can help gain an alternative perspective on your situation. You are not alone. Many others in your company are in the same boat and they also want to discuss their frustrations.

7-  Read and analyze all documents thoroughly.  The ADEA sheets will list, by job title, the age of those in your universe, the population total of people in your universe with that title at that age, the number “selected” to participate in the surplus, and the number not selected. These documents convey how the universe maps by age and job title. When going through them, look out for anything that may be considered age discrimination. Typically, an excel file would be more helpful when sorting out this information.

8-  Print out/download  your entire corporate training history.

9-  Print out/download  all your previous year’s YTR (Your Total Rewards) statements.

10-  Print out/download  your appraisal history.

11-  Print out/download  your pay stubs.

12-  Go through your Outlook and download any contacts  you’d like to retain in your life – friends, colleagues, etc.

13-  NETWORK, network, network.  OR Linkedin , Linkedin, Linkedin. Whatever the source attempt to make as many connections as you can, and maintain your contacts – with peers, supervisors, vendors, etc. Despite your employment ending at Sysco, your relationship with everyone at Sysco doesn’t have to terminate as well. Some of these folks could play a huge role in helping you find your next endeavor?

What type of retirement plan does Sysco offer to its employees?

Sysco offers a 401(k) Savings Plan to help employees save for retirement.

Does Sysco provide a matching contribution for its 401(k) plan?

Yes, Sysco provides a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.

At what age can Sysco employees start participating in the 401(k) Savings Plan?

Sysco employees can typically start participating in the 401(k) Savings Plan as soon as they meet the eligibility requirements, usually at age 21.

How can Sysco employees enroll in the 401(k) Savings Plan?

Sysco employees can enroll in the 401(k) Savings Plan through the company’s benefits portal or by contacting the HR department for assistance.

What investment options are available in Sysco's 401(k) Savings Plan?

Sysco's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

How much can Sysco employees contribute to their 401(k) plan each year?

Sysco employees can contribute up to the IRS limit for 401(k) contributions, which is adjusted annually.

Does Sysco allow employees to take loans from their 401(k) Savings Plan?

Yes, Sysco allows employees to take loans from their 401(k) Savings Plan under certain conditions.

What happens to a Sysco employee's 401(k) account if they leave the company?

If a Sysco employee leaves the company, they can choose to roll over their 401(k) account to another retirement plan, cash out, or leave it with Sysco.

Can Sysco employees change their contribution percentage to the 401(k) plan?

Yes, Sysco employees can change their contribution percentage to the 401(k) plan at any time, subject to certain guidelines.

Is there a vesting schedule for Sysco's matching contributions to the 401(k) plan?

Yes, Sysco has a vesting schedule for its matching contributions, meaning employees must work for a certain period before they fully own those contributions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Sysco offers a defined benefit pension plan that was frozen on December 31, 2012. Employees hired before this date continue to accrue vesting service. Benefits are calculated based on 1.5% of eligible career earnings through the freeze date. Additionally, Sysco provides a generous 401(k) plan with automatic and matching contributions. The company automatically contributes 3% of eligible pay to employees' 401(k) accounts, and matches 50 cents for every dollar contributed up to 6% of pay. Employees are automatically enrolled at a 3% contribution rate, with annual increases until reaching 6%.
Layoffs and Restructuring: In 2024, Sysco implemented layoffs across various departments without publicly detailing the reasons. This follows similar restructuring efforts in previous years aimed at improving financial performance amidst economic challenges and rising supply chain costs (Sources: Peek Career, Layoff Insider). Union Strike: In early 2023, union workers at Sysco's Indianapolis distribution hub went on strike, demanding better wages, benefits, and shorter working hours. This labor unrest highlights ongoing challenges in employee relations and operational disruptions (Source: WBOI). Financial Performance: Despite the layoffs, Sysco reported strong financial health in 2024, with initiatives to enhance core business operations, invest in infrastructure like new distribution centers, and expand its electric vehicle fleet (Source: Sysco).
Sysco includes RSUs in its compensation packages, vesting over a specific period and converting into shares. Stock options are also provided, enabling employees to purchase shares at a predetermined price.
Sysco has made several significant updates to its healthcare benefits over the past few years, reflecting the company's commitment to supporting employee well-being amidst rising healthcare costs. For 2023, Sysco maintained stable premiums for medical, dental, and vision plans for non-union employees despite the general trend of increasing healthcare costs. Additionally, Sysco expanded its benefits to include domestic partner coverage across all Health & Welfare plans, such as medical, dental, vision, life insurance, and critical illness coverage. These changes highlight Sysco's efforts to adapt to the evolving needs of its workforce and ensure comprehensive coverage for employees and their families. In 2024, Sysco introduced several enhancements, including increased contribution limits for Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). The HSA limit for individual coverage rose to $4,150, while family coverage increased to $8,300, with catch-up contributions allowed for those 55 and older. The FSA limit also saw an increase, allowing employees to save up to $3,200. Sysco continues to offer various wellness programs, such as Headspace for mental health and Bloom for pelvic health, reflecting a holistic approach to employee well-being. These updates are particularly crucial in the current economic, investment, tax, and political environment, where healthcare costs and access are major concerns for employees.