This report analyzes and compares THE HANOVER INSURANCE GROUP's employee health insurance and employee benefits with its industry and in Massachusetts State.
Providing a smart employee benefits package is critical for attracting top talent and retaining valuable employees. Today, employee benefits play a vital role when candidates consider accepting a job offer.
Many companies offer today over-the-top perks, like yoga classes, haircuts, catered meals, and acupuncture. In this report, we focus however on traditional benefits. It's a work in progress that we will expand and update on a regular basis.
This report contains the following sections
Career benefits
THE HANOVER INSURANCE GROUP has remarkable career benefits that have a great impact on employees' career. There are several coaching and mentoring programs, as well as onboarding program for new employees to help them fit in the THE HANOVER INSURANCE GROUP. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: THE HANOVER INSURANCE GROUP believes that career planning of each employee is a key to a successful business and offers valuable opportunities so that the employees can reach their full potential. THE HANOVER INSURANCE GROUP has valuable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: THE HANOVER INSURANCE GROUP does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: THE HANOVER INSURANCE GROUP encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, THE HANOVER INSURANCE GROUP supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: THE HANOVER INSURANCE GROUP has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: THE HANOVER INSURANCE GROUP is always on the lookout for new leadership material and offers good development programs for its team members. With access to good resources, THE HANOVER INSURANCE GROUP ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: THE HANOVER INSURANCE GROUP is aware of the difficulties that new employees might experience when they join the team. That's why THE HANOVER INSURANCE GROUP has a valuable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: THE HANOVER INSURANCE GROUP knows that dedicated team members are hard to come by so it has an excellent Recognition program for those who stand out and continually contribute to THE HANOVER INSURANCE GROUP.
- TUITION REIMBURSEMENT: THE HANOVER INSURANCE GROUP realizes that continuous education is a key to success so it has an exceptional Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | THE HANOVER INSURANCE GROUP | Industry | Massachusetts |
|---|---|---|---|
| Career planning Benefits | |||
| Coaching and mentoring Benefits | |||
| Development resources Benefits | |||
| GED reimbursement Benefits | |||
| Leadership programs Benefits | |||
| Onboarding Benefits | |||
| Recognition programs Benefits | |||
| Tuition reimbursement Benefits |
Healthcare benefits
THE HANOVER INSURANCE GROUP offers top-notch health benefits to its employees, of which some can be used by employee's family members. Besides an affordable healthcare insurance and a dental plan that includes recounstruction surgery, team members can enjoy THE HANOVER INSURANCE GROUP's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: THE HANOVER INSURANCE GROUP has an exceptional counseling program for its employees and their family members. Team members are encouraged by THE HANOVER INSURANCE GROUP to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This exceptional counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at THE HANOVER INSURANCE GROUP have a remarkable dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. THE HANOVER INSURANCE GROUP partially pays for dentures and braces as well.
- HEALTH INSURANCE: THE HANOVER INSURANCE GROUP offers a superb health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: THE HANOVER INSURANCE GROUP is aware of the fact that a healthy employee is a productive employee so it offers extraordinary health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: THE HANOVER INSURANCE GROUP has a first-class healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.
- MATERNITY SUPPORT PROGRAM: THE HANOVER INSURANCE GROUP offers an exceptional maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: THE HANOVER INSURANCE GROUP has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. THE HANOVER INSURANCE GROUP covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: THE HANOVER INSURANCE GROUP offers a good Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | THE HANOVER INSURANCE GROUP | Industry | Massachusetts |
|---|---|---|---|
| Counseling Benefits | |||
| Dental Plan Benefits | |||
| Health Insurance Benefits | |||
| Health Plan Incentives Benefits | |||
| Healthcare Spending Accounts Benefits | |||
| Maternity support program Benefits | |||
| Telehealth Benefits | |||
| Vision Plan Benefits |
Financial benefits
Team members enjoy solid financial benefits at THE HANOVER INSURANCE GROUP. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. THE HANOVER INSURANCE GROUP offers solid life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect THE HANOVER INSURANCE GROUP to partially cover the expenses.
- 401(K) PLAN: THE HANOVER INSURANCE GROUP has an exceptional 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, THE HANOVER INSURANCE GROUP offers an exceptional program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, THE HANOVER INSURANCE GROUP offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: THE HANOVER INSURANCE GROUP has a solid Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: THE HANOVER INSURANCE GROUP has a solid bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
- CHILDCARE DISCOUNT: THE HANOVER INSURANCE GROUP does not offer childcare discount.
- COMMUTER BENEFIT: THE HANOVER INSURANCE GROUP has a solid commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: THE HANOVER INSURANCE GROUP offers a first-class daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
- DISABILITY: THE HANOVER INSURANCE GROUP has a solid disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a solid coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: THE HANOVER INSURANCE GROUP offers an extraordinary life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: THE HANOVER INSURANCE GROUP has an extraordinary vacation program for its team members with a great deal of paid vacation days. Team members can spend those days at their own pace, any time of the year. Various national and personal holidays are taken into account as well.
- PAID VOLUNTEER TIME OFF: THE HANOVER INSURANCE GROUP does not offer paid volunteer time off.
- PARENTAL LEAVE: THE HANOVER INSURANCE GROUP has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | THE HANOVER INSURANCE GROUP | Industry | Massachusetts |
|---|---|---|---|
| 401(k) plan Benefits | |||
| Adoption assistance reimbursement Benefits | |||
| Bonus pay Benefits | |||
| Childcare discount Benefits | |||
| Commuter benefit Benefits | |||
| Daycare flexible spending account Benefits | |||
| Disability Benefits | |||
| Life insurance Benefits | |||
| Paid time off Benefits | |||
| Paid volunteer time off Benefits | |||
| Parental leave Benefits |
Improve this report:
We have prepared THE HANOVER INSURANCE GROUP's benefits report with the best of our knowledge. If you believe some information here is incorrect, please click the link below and send as a note.
We will contact you and/or update the information in 2-5 business days.