This report analyzes and compares ABBOTT's employee health insurance and employee benefits with its industry and in Illinois 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
ABBOTT has superior 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 ABBOTT. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: ABBOTT offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, ABBOTT makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: ABBOTT believes that an outstanding coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: ABBOTT encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, ABBOTT supports their team members on their journey to perfection. Employees have a wide range of solid resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: ABBOTT has an excellent GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: ABBOTT is always on the lookout for new leadership material and offers solid development programs for its team members. With access to solid resources, ABBOTT ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why ABBOTT offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: ABBOTT has a remarkable Recognition program in place and makes sure that team members who constantly achieve extraordinary results and work well with others are properly rewarded for their efforts.
- TUITION REIMBURSEMENT: ABBOTT does not offer tuition reimbursement.
Benefit | ABBOTT | Industry | Illinois |
|---|---|---|---|
| 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
ABBOTT offers superior 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 ABBOTT's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: ABBOTT wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its first-class counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: ABBOTT cares about its team members' dental health so it offers an exceptional dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: ABBOTT provides an excellent health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: ABBOTT does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: ABBOTT has a superior 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: Aware of the challenges that come with pregnancy, ABBOTT has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: ABBOTT has an extraordinary telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: ABBOTT provides a superb Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
Benefit | ABBOTT | Industry | Illinois |
|---|---|---|---|
| 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
ABBOTT offers first-class financial benefits for employees and their family members. A first-class 401(k) plan makes sure that employees have a secure retirement, while a generous, fully paid parental leave allows expecting mothers and fathers to enjoy their child's first year. Along with paid vacations, employees can enjoy fully paid commuting as well.
- 401(K) PLAN: ABBOTT does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: ABBOTT has an extraordinary Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: ABBOTT offers superb bonuses to team members who excel in their field of work, provide extraordinary results for ABBOTT, and encourage others to do the same.
- CHILDCARE DISCOUNT: ABBOTT cooperates with partners and team members are eligible for first-class discounts for a primary childcare.
- COMMUTER BENEFIT: ABBOTT has a suitable 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: ABBOTT has a suitable daycare spending account that fills from each paycheck before taxes. This allows team members to partially cover costs of daycare while they are at work.
- DISABILITY: ABBOTT has an extraordinary disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: ABBOTT has a remarkable life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: ABBOTT has an exceptional 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: ABBOTT believes that impressive volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why ABBOTT offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: ABBOTT has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | ABBOTT | Industry | Illinois |
|---|---|---|---|
| 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 ABBOTT'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.