This report analyzes and compares CINCINNATI FINANCIAL's 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
CINCINNATI FINANCIAL offers valuable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. CINCINNATI FINANCIAL believes that every employee has a valuable set of skills so it helps them plan their careers with valuable developmental resources and mentorships.
- CAREER PLANNING: CINCINNATI FINANCIAL offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, CINCINNATI FINANCIAL makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: CINCINNATI FINANCIAL believes that an exceptional coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: CINCINNATI FINANCIAL offers superb development resources to enable its employees to grow on a personal and a professional plan. With access to superb intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: CINCINNATI FINANCIAL has a great GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: CINCINNATI FINANCIAL does not offer leadership programs.
- ONBOARDING: CINCINNATI FINANCIAL does not offer onboarding.
- RECOGNITION PROGRAMS: CINCINNATI FINANCIAL has a superior 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: CINCINNATI FINANCIAL has a good 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 | CINCINNATI FINANCIAL | 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
CINCINNATI FINANCIAL 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 CINCINNATI FINANCIAL's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: CINCINNATI FINANCIAL wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its top-notch 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: CINCINNATI FINANCIAL offers a great 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: CINCINNATI FINANCIAL provides an impressive health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: CINCINNATI FINANCIAL is aware of the fact that a healthy employee is a productive employee so it offers impressive 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: CINCINNATI FINANCIAL has a first-class 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: CINCINNATI FINANCIAL has a suitable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: CINCINNATI FINANCIAL has implemented a superb telehealth policy for its members to use any time of the day, every single day. CINCINNATI FINANCIAL covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: CINCINNATI FINANCIAL offers a valuable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | CINCINNATI FINANCIAL | 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
CINCINNATI FINANCIAL offers top-notch financial benefits for employees and their family members. A top-notch 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: CINCINNATI FINANCIAL 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 CINCINNATI FINANCIAL 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, CINCINNATI FINANCIAL provides resources which will help team members decide what to do with their 401(k) plan. CINCINNATI FINANCIAL offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: CINCINNATI FINANCIAL has an excellent 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: CINCINNATI FINANCIAL has a solid 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: CINCINNATI FINANCIAL has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: CINCINNATI FINANCIAL has a solid 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: CINCINNATI FINANCIAL offers an outstanding 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: CINCINNATI FINANCIAL has a solid 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 solid coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: CINCINNATI FINANCIAL offers an extraordinary 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 extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: CINCINNATI FINANCIAL realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why CINCINNATI FINANCIAL has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: CINCINNATI FINANCIAL believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why CINCINNATI FINANCIAL offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: CINCINNATI FINANCIAL has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | CINCINNATI FINANCIAL | 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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