This report analyzes and compares BARNES GROUP's employee health insurance and employee benefits with its industry and in Connecticut 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
BARNES GROUP 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 BARNES GROUP. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BARNES GROUP continually evaluates its team members to determine the potential and direction of employees' careers. The impressive tools that BARNES GROUP uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: BARNES GROUP believes that an excellent coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: BARNES GROUP encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, BARNES GROUP 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: BARNES GROUP has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: BARNES GROUP offers a wide variety of superb courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by BARNES GROUP to grow as leaders and learn how to make tough calls.
- ONBOARDING: BARNES GROUP offers a superb Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: BARNES GROUP 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 BARNES GROUP.
- TUITION REIMBURSEMENT: BARNES GROUP realizes that continuous education is a key to success so it has an exceptional Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | BARNES GROUP | Industry | Connecticut |
|---|---|---|---|
| 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
BARNES GROUP offers first-class 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 BARNES GROUP's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BARNES GROUP has an exceptional counseling program for its employees and their family members. Team members are encouraged by BARNES GROUP 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 exceptional 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 BARNES GROUP have a superior dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. BARNES GROUP partially pays for dentures and braces as well.
- HEALTH INSURANCE: BARNES GROUP offers a superb health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: BARNES GROUP does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, BARNES GROUP offers a great 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: BARNES GROUP offers an impressive maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: BARNES GROUP does not offer telehealth.
- VISION PLAN: BARNES GROUP has an exceptional 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 | BARNES GROUP | Industry | Connecticut |
|---|---|---|---|
| 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
BARNES GROUP 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: BARNES GROUP knows how important it is to think about retirement and start saving on time. That's why it offers a solid 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and BARNES GROUP will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, BARNES GROUP provides resources which will help team members decide what to do with their 401(k) plan. BARNES GROUP offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: BARNES GROUP has a superior 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 BARNES GROUP.
- BONUS PAY: BARNES GROUP offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for BARNES GROUP, and encourage others to do the same.
- CHILDCARE DISCOUNT: BARNES GROUP does not offer childcare discount.
- COMMUTER BENEFIT: BARNES GROUP acknowledges the fact that some team members have high commuting costs so it offers them remarkable commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: BARNES GROUP offers an impressive daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.
- DISABILITY: BARNES GROUP has a suitable disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: BARNES GROUP offers a solid life insurance policy to its team members for an affordable price. BARNES GROUP 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: BARNES GROUP has an extraordinary 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: BARNES GROUP has a top-notch volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, BARNES GROUP stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: BARNES GROUP has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BARNES GROUP | Industry | Connecticut |
|---|---|---|---|
| 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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