This report analyzes and compares CARPENTER TECHNOLOGY's employee health insurance and employee benefits with its industry and in Pennsylvania 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
CARPENTER TECHNOLOGY 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 CARPENTER TECHNOLOGY. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: CARPENTER TECHNOLOGY believes that career planning of each employee is a key to a successful business and offers valuable opportunities so that the employees can reach their full potential. CARPENTER TECHNOLOGY has valuable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a great coaching and mentoring program, CARPENTER TECHNOLOGY can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: extraordinary development resources are what allows CARPENTER TECHNOLOGY to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in extraordinary workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: CARPENTER TECHNOLOGY has an excellent GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: CARPENTER TECHNOLOGY offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by CARPENTER TECHNOLOGY to grow as leaders and learn how to make tough calls.
- ONBOARDING: CARPENTER TECHNOLOGY 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: CARPENTER TECHNOLOGY 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 CARPENTER TECHNOLOGY.
- TUITION REIMBURSEMENT: CARPENTER TECHNOLOGY has a valuable 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 | CARPENTER TECHNOLOGY | Industry | Pennsylvania |
|---|---|---|---|
| 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
CARPENTER TECHNOLOGY offers top-notch 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 CARPENTER TECHNOLOGY's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: CARPENTER TECHNOLOGY wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its remarkable 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: CARPENTER TECHNOLOGY cares about its team members' dental health so it offers an impressive 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: CARPENTER TECHNOLOGY offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: CARPENTER TECHNOLOGY is aware of the fact that a healthy employee is a productive employee so it offers extraordinary health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: CARPENTER TECHNOLOGY has a superb healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, CARPENTER TECHNOLOGY has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: CARPENTER TECHNOLOGY has an impressive 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: CARPENTER TECHNOLOGY 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.
Benefit | CARPENTER TECHNOLOGY | Industry | Pennsylvania |
|---|---|---|---|
| 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 valuable financial benefits at CARPENTER TECHNOLOGY. 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. CARPENTER TECHNOLOGY offers valuable life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect CARPENTER TECHNOLOGY to partially cover the expenses.
- 401(K) PLAN: CARPENTER TECHNOLOGY has a first-class 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. CARPENTER TECHNOLOGY 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 first-class CARPENTER TECHNOLOGY has Matching program that matches 75% of employees' contributions. Whatever CARPENTER TECHNOLOGY contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave CARPENTER TECHNOLOGY. Recognizing that every team member is unique, with specific needs and goals, CARPENTER TECHNOLOGY keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: CARPENTER TECHNOLOGY has a suitable Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: CARPENTER TECHNOLOGY offers top-notch bonuses to team members who excel in their field of work, provide extraordinary results for CARPENTER TECHNOLOGY, and encourage others to do the same.
- CHILDCARE DISCOUNT: CARPENTER TECHNOLOGY does not offer childcare discount.
- COMMUTER BENEFIT: CARPENTER TECHNOLOGY 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: CARPENTER TECHNOLOGY has a good 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: CARPENTER TECHNOLOGY has a good 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 good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: CARPENTER TECHNOLOGY has a superb 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: CARPENTER TECHNOLOGY wants for its team members to lead a happy and fulfilled life so it has a good 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: CARPENTER TECHNOLOGY has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, CARPENTER TECHNOLOGY stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: CARPENTER TECHNOLOGY has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | CARPENTER TECHNOLOGY | Industry | Pennsylvania |
|---|---|---|---|
| 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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