This report analyzes and compares AVNET's employee health insurance and employee benefits with its industry and in Arizona 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
AVNET has top-notch 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 AVNET. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: AVNET offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, AVNET makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: AVNET does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: outstanding development resources are what allows AVNET to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in outstanding workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: AVNET has a top-notch policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: AVNET believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that AVNET provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: AVNET is aware of the difficulties that new employees might experience when they join the team. That's why AVNET has a suitable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: AVNET 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 AVNET.
- TUITION REIMBURSEMENT: AVNET realizes that continuous education is a key to success so it has an outstanding Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | AVNET | Industry | Arizona |
|---|---|---|---|
| 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
AVNET 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 AVNET's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: AVNET has an outstanding counseling program for its employees and their family members. Team members are encouraged by AVNET 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 outstanding counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: AVNET offers a good 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: AVNET offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: AVNET does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: AVNET 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: Aware of the challenges that come with pregnancy, AVNET has created a first-class maternity support program to support its expecting team members.
- TELEHEALTH: AVNET has a great 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. AVNET can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: AVNET has an extraordinary 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 | AVNET | Industry | Arizona |
|---|---|---|---|
| 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
AVNET 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: AVNET has a top-notch 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. AVNET provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a top-notch AVNET has Matching program that matches 75% of employees' contributions. Whatever AVNET contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave AVNET. Recognizing that every team member is unique, with specific needs and goals, AVNET keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: AVNET 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 AVNET.
- BONUS PAY: AVNET 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: AVNET cooperates with partners and team members are eligible for first-class discounts for a primary childcare.
- COMMUTER BENEFIT: AVNET acknowledges the fact that some team members have high commuting costs so it offers them first-class commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: AVNET has a good 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: AVNET 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: AVNET offers an outstanding 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 outstanding life insurance package contains dependent policies as well.
- PAID TIME OFF: AVNET has an outstanding 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: AVNET recognizes the importance of giving back to the community so it offers a valuable volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by AVNET, on volunteer work of their choice.
- PARENTAL LEAVE: AVNET has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | AVNET | Industry | Arizona |
|---|---|---|---|
| 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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