This report analyzes and compares BIG LOTS' employee health insurance and employee benefits with its industry and in Ohio 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
BIG LOTS offers solid career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. BIG LOTS believes that every employee has a valuable set of skills so it helps them plan their careers with solid developmental resources and mentorships.
- CAREER PLANNING: BIG LOTS continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that BIG LOTS uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: BIG LOTS does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: BIG LOTS encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, BIG LOTS supports their team members on their journey to perfection. Employees have a wide range of solid resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: BIG LOTS does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: BIG LOTS believes that providing its team members with impressive leadership programs is a crucial step in creating new leaders. By using impressive tools that BIG LOTS provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: BIG LOTS is aware of the difficulties that new employees might experience when they join the team. That's why BIG LOTS has a valuable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, BIG LOTS implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: BIG LOTS does not offer tuition reimbursement.
Benefit | BIG LOTS | Industry | Ohio |
|---|---|---|---|
| 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
BIG LOTS 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 BIG LOTS's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BIG LOTS wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superior 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: BIG LOTS cares about its team members' dental health so it offers an exceptional 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: BIG LOTS offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BIG LOTS does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, BIG LOTS 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: Aware of the challenges that come with pregnancy, BIG LOTS has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: BIG LOTS has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. BIG LOTS covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: BIG LOTS has an impressive 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 | BIG LOTS | Industry | Ohio |
|---|---|---|---|
| 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
Team members enjoy suitable financial benefits at BIG LOTS. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. BIG LOTS offers suitable life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect BIG LOTS to partially cover the expenses.
- 401(K) PLAN: BIG LOTS has a superb 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. BIG LOTS 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 superb BIG LOTS has Matching program that matches 75% of employees' contributions. Whatever BIG LOTS contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave BIG LOTS. Recognizing that every team member is unique, with specific needs and goals, BIG LOTS keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: BIG LOTS does not offer adoption assistance reimbursement.
- BONUS PAY: BIG LOTS has a suitable bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
- CHILDCARE DISCOUNT: BIG LOTS cooperates with partners and team members are eligible for first-class discounts for a primary childcare.
- COMMUTER BENEFIT: BIG LOTS 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: BIG LOTS offers a first-class daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
- DISABILITY: BIG LOTS 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: BIG LOTS offers a great life insurance policy to its team members for an affordable price. BIG LOTS 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: BIG LOTS wants for its team members to lead a happy and fulfilled life so it has a solid 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: BIG LOTS does not offer paid volunteer time off.
- PARENTAL LEAVE: BIG LOTS has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BIG LOTS | Industry | Ohio |
|---|---|---|---|
| 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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