This report analyzes and compares BELK's employee health insurance and employee benefits with its industry and in North Carolina State.

COMPARE BELK'S EMPLOYEE HEALTH INSURANCE AND BENEFITS

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

  1. Career Benefits
  2. Healthcare Benefits
  3. Financial Benefits

Career benefits

BELK has superb 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 BELK. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.

  • CAREER PLANNING: BELK continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that BELK uses for career planning allow employees to develop their skills and gain new insights about the industry.
  • COACHING AND MENTORING: BELK believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
  • DEVELOPMENT RESOURCES: BELK encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, BELK supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
  • GED REIMBURSEMENT: BELK has an impressive GED policy and offers to pay full costs for employees who want to obtain a GED.
  • LEADERSHIP PROGRAMS: BELK believes that providing its team members with extraordinary leadership programs is a crucial step in creating new leaders. By using extraordinary tools that BELK provides for them, employees are able to learn what makes or breaks a leader.
  • ONBOARDING: BELK is aware of the difficulties that new employees might experience when they join the team. That's why BELK has a valuable Onboarding program that makes sure the transition period goes as smoothly as possible.
  • RECOGNITION PROGRAMS: BELK 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: BELK does not offer tuition reimbursement.
BELK's career benefits comparison table

Benefit

BELK

Industry

North Carolina

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

BELK has solid health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers solid dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a solid healthcare spending account at their disposal.

  • COUNSELING: BELK does not offer counseling.
  • DENTAL PLAN: BELK offers a solid 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: BELK offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
  • HEALTH PLAN INCENTIVES: BELK does not offer health plan incentives.
  • HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, BELK offers a solid 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: BELK offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
  • TELEHEALTH: BELK has an extraordinary 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: BELK offers a good Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
BELK's healthcare benefits comparison table

Benefit

BELK

Industry

North Carolina

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

BELK 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: BELK knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 BELK 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, BELK provides resources which will help team members decide what to do with their 401(k) plan. BELK offers a good vesting schedule with a gradual increase of 25% per year.
  • ADOPTION ASSISTANCE REIMBURSEMENT: BELK has an outstanding Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
  • BONUS PAY: BELK offers superior bonuses to team members who excel in their field of work, provide extraordinary results for BELK, and encourage others to do the same.
  • CHILDCARE DISCOUNT: BELK offers a solid discount for primary childcare to its team members and enables them affordable prices.
  • COMMUTER BENEFIT: BELK offers impressive 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: BELK offers an extraordinary 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: BELK has a great 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 great coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
  • LIFE INSURANCE: BELK offers an exceptional 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 exceptional life insurance package contains dependent policies as well.
  • PAID TIME OFF: BELK wants for its team members to lead a happy and fulfilled life so it has a great vacation policy for every employee. The number of paid vacation days depends on how long has a certain member been part of the team.
  • PAID VOLUNTEER TIME OFF: BELK has a superior volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, BELK stimulates its team members to use two paid days every quartal for volunteering purposes.
  • PARENTAL LEAVE: BELK has an outstanding parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
BELK's financial benefits comparison table

Benefit

BELK

Industry

North Carolina

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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