This report analyzes and compares BIO-TECHNE's employee health insurance and employee benefits with its industry and in Minnesota 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
BIO-TECHNE has top-notch 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 BIO-TECHNE. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BIO-TECHNE believes that career planning of each employee is a key to a successful business and offers good opportunities so that the employees can reach their full potential. BIO-TECHNE has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: BIO-TECHNE offers remarkable coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: outstanding development resources are what allows BIO-TECHNE to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in outstanding workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: BIO-TECHNE has an exceptional GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: BIO-TECHNE believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that BIO-TECHNE provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: BIO-TECHNE is aware of the difficulties that new employees might experience when they join the team. That's why BIO-TECHNE has a suitable 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, BIO-TECHNE implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: BIO-TECHNE has a solid 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 | BIO-TECHNE | Industry | Minnesota |
|---|---|---|---|
| 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
BIO-TECHNE 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 BIO-TECHNE's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BIO-TECHNE does not offer counseling.
- DENTAL PLAN: Team members at BIO-TECHNE have a first-class dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. BIO-TECHNE partially pays for dentures and braces as well.
- HEALTH INSURANCE: BIO-TECHNE 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, BIO-TECHNE offers great 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: BIO-TECHNE offers an extraordinary healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, BIO-TECHNE has created a remarkable maternity support program to support its expecting team members.
- TELEHEALTH: BIO-TECHNE has a valuable 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. BIO-TECHNE can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: BIO-TECHNE has an outstanding 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 | BIO-TECHNE | Industry | Minnesota |
|---|---|---|---|
| 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
BIO-TECHNE 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: BIO-TECHNE knows how important it is to think about retirement and start saving on time. That's why it offers a suitable 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 BIO-TECHNE 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, BIO-TECHNE provides resources which will help team members decide what to do with their 401(k) plan. BIO-TECHNE offers a suitable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: BIO-TECHNE has an extraordinary 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: BIO-TECHNE has an outstanding 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: BIO-TECHNE cooperates with partners and team members are eligible for top-notch discounts for a primary childcare.
- COMMUTER BENEFIT: BIO-TECHNE has a good commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: BIO-TECHNE 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: BIO-TECHNE 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: BIO-TECHNE has a first-class life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: BIO-TECHNE realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why BIO-TECHNE has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: BIO-TECHNE 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, BIO-TECHNE stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: BIO-TECHNE has an exceptional parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BIO-TECHNE | Industry | Minnesota |
|---|---|---|---|
| 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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