This report analyzes and compares AMERICAN ELECTRIC POWER's employee health insurance and employee benefits with its industry and in Ohio 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
AMERICAN ELECTRIC POWER offers valuable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. AMERICAN ELECTRIC POWER believes that every employee has a valuable set of skills so it helps them plan their careers with valuable developmental resources and mentorships.
- CAREER PLANNING: AMERICAN ELECTRIC POWER offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, AMERICAN ELECTRIC POWER makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: AMERICAN ELECTRIC POWER does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: AMERICAN ELECTRIC POWER encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, AMERICAN ELECTRIC POWER supports their team members on their journey to perfection. Employees have a wide range of valuable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: AMERICAN ELECTRIC POWER does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: AMERICAN ELECTRIC POWER offers a wide variety of remarkable courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by AMERICAN ELECTRIC POWER to grow as leaders and learn how to make tough calls.
- ONBOARDING: AMERICAN ELECTRIC POWER does not offer onboarding.
- RECOGNITION PROGRAMS: AMERICAN ELECTRIC POWER has a first-class 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: AMERICAN ELECTRIC POWER realizes that continuous education is a key to success so it has an impressive Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | AMERICAN ELECTRIC POWER | Industry | Ohio |
|---|---|---|---|
| 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
AMERICAN ELECTRIC POWER 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 AMERICAN ELECTRIC POWER's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: AMERICAN ELECTRIC POWER wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its top-notch 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: AMERICAN ELECTRIC POWER cares about its team members' dental health so it offers an excellent 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: AMERICAN ELECTRIC POWER offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: AMERICAN ELECTRIC POWER is aware of the fact that a healthy employee is a productive employee so it offers impressive 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: AMERICAN ELECTRIC POWER has a superb 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: AMERICAN ELECTRIC POWER has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: AMERICAN ELECTRIC POWER does not offer telehealth.
- VISION PLAN: AMERICAN ELECTRIC POWER has an excellent Vision Plan for its team members who can count on coverage of a wide variety eye exams and procedures, as well as vision-related medical devices.
Benefit | AMERICAN ELECTRIC POWER | Industry | Ohio |
|---|---|---|---|
| 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
AMERICAN ELECTRIC POWER offers superb financial benefits for employees and their family members. A superb 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: AMERICAN ELECTRIC POWER 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, AMERICAN ELECTRIC POWER 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, AMERICAN ELECTRIC POWER offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: AMERICAN ELECTRIC POWER has a valuable 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: AMERICAN ELECTRIC POWER offers superior bonuses to team members who excel in their field of work, provide extraordinary results for AMERICAN ELECTRIC POWER, and encourage others to do the same.
- CHILDCARE DISCOUNT: AMERICAN ELECTRIC POWER has an excellent childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: AMERICAN ELECTRIC POWER acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: AMERICAN ELECTRIC POWER offers a superior 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: AMERICAN ELECTRIC POWER offers a top-notch 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: AMERICAN ELECTRIC POWER offers an impressive 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 impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: AMERICAN ELECTRIC POWER realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why AMERICAN ELECTRIC POWER has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: AMERICAN ELECTRIC POWER does not offer paid volunteer time off.
- PARENTAL LEAVE: AMERICAN ELECTRIC POWER has an extraordinary parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | AMERICAN ELECTRIC POWER | Industry | Ohio |
|---|---|---|---|
| 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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