This report analyzes and compares ALVOGEN's employee health insurance and employee benefits with its industry and in New Jersey 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
ALVOGEN has first-class 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 ALVOGEN. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: ALVOGEN offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, ALVOGEN makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: ALVOGEN offers superior coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: impressive development resources are what allows ALVOGEN to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in impressive workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: ALVOGEN has an impressive GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: ALVOGEN offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by ALVOGEN to grow as leaders and learn how to make tough calls.
- ONBOARDING: ALVOGEN is aware of the difficulties that new employees might experience when they join the team. That's why ALVOGEN has a good Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: ALVOGEN knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to ALVOGEN.
- TUITION REIMBURSEMENT: ALVOGEN has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at ALVOGEN.
Benefit | ALVOGEN | Industry | New Jersey |
|---|---|---|---|
| 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
ALVOGEN has good health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers good dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a good healthcare spending account at their disposal.
- COUNSELING: ALVOGEN is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why ALVOGEN implemented a solid counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This solid counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: ALVOGEN offers a great dental plan for its team members to take care of their basic dental needs. The plan covers preventive dental exams in full. Team members have an option to pay for a more inclusive dental plan with better coverage.
- HEALTH INSURANCE: ALVOGEN offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: ALVOGEN does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: ALVOGEN offers an impressive healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, ALVOGEN has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: ALVOGEN does not offer telehealth.
- VISION PLAN: ALVOGEN offers a great Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | ALVOGEN | Industry | New Jersey |
|---|---|---|---|
| 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 great financial benefits at ALVOGEN. 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. ALVOGEN offers great life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect ALVOGEN to partially cover the expenses.
- 401(K) PLAN: ALVOGEN has an extraordinary 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, ALVOGEN offers an extraordinary 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, ALVOGEN offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: ALVOGEN has a remarkable Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by ALVOGEN.
- BONUS PAY: ALVOGEN has a suitable 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: ALVOGEN does not offer childcare discount.
- COMMUTER BENEFIT: ALVOGEN has a good 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: ALVOGEN has a valuable 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: ALVOGEN offers a superb short-term disability coverage for its team members. Through disability program, part of the employee's salary is replaced by the coverage for a limited time. This enables team members to have a financial stability during the difficult period of their lives and helps them to get back on track.
- LIFE INSURANCE: ALVOGEN has a superb 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: ALVOGEN wants for its team members to lead a happy and fulfilled life so it has a good vacation policy for every employee. The number of paid vacation days depends on how long has a certain member been part of the team.
- PAID VOLUNTEER TIME OFF: ALVOGEN recognizes the importance of giving back to the community so it offers a good volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by ALVOGEN, on volunteer work of their choice.
- PARENTAL LEAVE: ALVOGEN has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | ALVOGEN | Industry | New Jersey |
|---|---|---|---|
| 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 |
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