This report analyzes and compares BANYAN BRANCH's employee health insurance and employee benefits with its industry and in Washington 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
BANYAN BRANCH has remarkable 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 BANYAN BRANCH. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BANYAN BRANCH offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, BANYAN BRANCH makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, BANYAN BRANCH can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: BANYAN BRANCH offers first-class development resources to enable its employees to grow on a personal and a professional plan. With access to first-class intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: BANYAN BRANCH has an exceptional GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: BANYAN BRANCH believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that BANYAN BRANCH provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: BANYAN BRANCH does not offer onboarding.
- RECOGNITION PROGRAMS: BANYAN BRANCH knows that dedicated team members are hard to come by so it has an outstanding Recognition program for those who stand out and continually contribute to BANYAN BRANCH.
- TUITION REIMBURSEMENT: BANYAN BRANCH has a good 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 | BANYAN BRANCH | Industry | Washington |
|---|---|---|---|
| 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
BANYAN BRANCH 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 BANYAN BRANCH's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BANYAN BRANCH is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why BANYAN BRANCH implemented a suitable 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 suitable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: BANYAN BRANCH 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: BANYAN BRANCH offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, BANYAN BRANCH 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: To financially help its team members with medical emergencies, BANYAN BRANCH offers a good 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: BANYAN BRANCH offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: BANYAN BRANCH has a good 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. BANYAN BRANCH can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: BANYAN BRANCH 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 | BANYAN BRANCH | Industry | Washington |
|---|---|---|---|
| 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
BANYAN BRANCH offers remarkable financial benefits for employees and their family members. A remarkable 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: BANYAN BRANCH 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, BANYAN BRANCH 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, BANYAN BRANCH offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: BANYAN BRANCH 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 BANYAN BRANCH.
- BONUS PAY: BANYAN BRANCH has an excellent 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: BANYAN BRANCH offers a suitable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: BANYAN BRANCH offers excellent commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: BANYAN BRANCH 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: BANYAN BRANCH 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: BANYAN BRANCH offers a great life insurance policy to its team members for an affordable price. BANYAN BRANCH 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: BANYAN BRANCH has an excellent 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: BANYAN BRANCH believes that extraordinary volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why BANYAN BRANCH offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: BANYAN BRANCH has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BANYAN BRANCH | Industry | Washington |
|---|---|---|---|
| 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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