This report analyzes and compares BANK OF HAWAII's employee health insurance and employee benefits with its industry and in Hawaii 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
BANK OF HAWAII offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. BANK OF HAWAII believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: BANK OF HAWAII continually evaluates its team members to determine the potential and direction of employees' careers. The exceptional tools that BANK OF HAWAII uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, BANK OF HAWAII can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: BANK OF HAWAII encourages its team members to work on their existing skills and gain new ones continually. By providing good development resources, BANK OF HAWAII supports their team members on their journey to perfection. Employees have a wide range of good resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: BANK OF HAWAII does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: BANK OF HAWAII does not offer leadership programs.
- ONBOARDING: BANK OF HAWAII does not offer onboarding.
- RECOGNITION PROGRAMS: BANK OF HAWAII 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: BANK OF HAWAII does not offer tuition reimbursement.
Benefit | BANK OF HAWAII | Industry | Hawaii |
|---|---|---|---|
| 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
BANK OF HAWAII 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 BANK OF HAWAII's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BANK OF HAWAII 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: BANK OF HAWAII 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: BANK OF HAWAII provides an extraordinary health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: BANK OF HAWAII offers its team members top-notch health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. BANK OF HAWAII provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, BANK OF HAWAII offers a suitable healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: BANK OF HAWAII has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: BANK OF HAWAII has an exceptional 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: BANK OF HAWAII provides a top-notch 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 | BANK OF HAWAII | Industry | Hawaii |
|---|---|---|---|
| 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
BANK OF HAWAII 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: BANK OF HAWAII has an impressive 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, BANK OF HAWAII offers an impressive 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, BANK OF HAWAII offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: BANK OF HAWAII has a good 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: BANK OF HAWAII offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for BANK OF HAWAII, and encourage others to do the same.
- CHILDCARE DISCOUNT: BANK OF HAWAII does not offer childcare discount.
- COMMUTER BENEFIT: BANK OF HAWAII 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: BANK OF HAWAII has a great 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: BANK OF HAWAII has an exceptional 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: BANK OF HAWAII offers a solid life insurance policy to its team members for an affordable price. BANK OF HAWAII participates with 50% of the costs of the policy which makes it enticing for employees to buy it. Beneficiaries of team members can expect to get up to 1 year worth of employee's salary.
- PAID TIME OFF: BANK OF HAWAII realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why BANK OF HAWAII has a top-notch vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: BANK OF HAWAII has a first-class volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, BANK OF HAWAII stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: BANK OF HAWAII has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BANK OF HAWAII | Industry | Hawaii |
|---|---|---|---|
| 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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