This report analyzes and compares ASTEC INDUSTRIES' employee health insurance and employee benefits with its industry and in Tennessee 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
ASTEC INDUSTRIES 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 ASTEC INDUSTRIES. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: ASTEC INDUSTRIES continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that ASTEC INDUSTRIES uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: ASTEC INDUSTRIES believes that an impressive coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: ASTEC INDUSTRIES offers superb development resources to enable its employees to grow on a personal and a professional plan. With access to superb intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: ASTEC INDUSTRIES has a suitable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: ASTEC INDUSTRIES believes that providing its team members with excellent leadership programs is a crucial step in creating new leaders. By using excellent tools that ASTEC INDUSTRIES provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: ASTEC INDUSTRIES does not offer onboarding.
- RECOGNITION PROGRAMS: ASTEC INDUSTRIES 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 ASTEC INDUSTRIES.
- TUITION REIMBURSEMENT: ASTEC INDUSTRIES has a great Tuition Reimbursement Program and participates with up to 25% of the costs for team members who want a job-related certificate or a degree.
Benefit | ASTEC INDUSTRIES | Industry | Tennessee |
|---|---|---|---|
| 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
ASTEC INDUSTRIES offers remarkable 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 ASTEC INDUSTRIES's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: ASTEC INDUSTRIES has an extraordinary counseling program for its employees and their family members. Team members are encouraged by ASTEC INDUSTRIES 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 extraordinary 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 ASTEC INDUSTRIES have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. ASTEC INDUSTRIES partially pays for dentures and braces as well.
- HEALTH INSURANCE: ASTEC INDUSTRIES offers a remarkable health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, ASTEC INDUSTRIES offers solid health plan incentives for its employees. Employees have at their disposal various resources through which they can learn about their health and how to improve it.
- HEALTHCARE SPENDING ACCOUNTS: ASTEC INDUSTRIES offers an excellent 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, ASTEC INDUSTRIES has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: ASTEC INDUSTRIES has a valuable telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. ASTEC INDUSTRIES can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: ASTEC INDUSTRIES provides a first-class 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 | ASTEC INDUSTRIES | Industry | Tennessee |
|---|---|---|---|
| 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
ASTEC INDUSTRIES 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: ASTEC INDUSTRIES 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, ASTEC INDUSTRIES 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, ASTEC INDUSTRIES offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: ASTEC INDUSTRIES has a superb 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 ASTEC INDUSTRIES.
- BONUS PAY: ASTEC INDUSTRIES has an impressive bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.
- CHILDCARE DISCOUNT: ASTEC INDUSTRIES does not offer childcare discount.
- COMMUTER BENEFIT: ASTEC INDUSTRIES 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: ASTEC INDUSTRIES has a solid 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: ASTEC INDUSTRIES offers a first-class 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: ASTEC INDUSTRIES 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: ASTEC INDUSTRIES realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why ASTEC INDUSTRIES has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: ASTEC INDUSTRIES does not offer paid volunteer time off.
- PARENTAL LEAVE: ASTEC INDUSTRIES has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | ASTEC INDUSTRIES | Industry | Tennessee |
|---|---|---|---|
| 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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