This report analyzes and compares COLFAX CORPORATION's employee health insurance and employee benefits with its industry and in Virginia 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
COLFAX CORPORATION offers good career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. COLFAX CORPORATION believes that every employee has a valuable set of skills so it helps them plan their careers with good developmental resources and mentorships.
- CAREER PLANNING: COLFAX CORPORATION believes that career planning of each employee is a key to a successful business and offers great opportunities so that the employees can reach their full potential. COLFAX CORPORATION has great resources at its disposal to achieve this goal.
- COACHING AND MENTORING: COLFAX CORPORATION does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: extraordinary development resources are what allows COLFAX CORPORATION 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: COLFAX CORPORATION does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: COLFAX CORPORATION offers a wide variety of top-notch courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by COLFAX CORPORATION to grow as leaders and learn how to make tough calls.
- ONBOARDING: COLFAX CORPORATION offers a superior 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: COLFAX CORPORATION 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 COLFAX CORPORATION.
- TUITION REIMBURSEMENT: COLFAX CORPORATION does not offer tuition reimbursement.
Benefit | COLFAX CORPORATION | Industry | Virginia |
|---|---|---|---|
| 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
COLFAX CORPORATION 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 COLFAX CORPORATION's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: COLFAX CORPORATION does not offer counseling.
- DENTAL PLAN: Team members at COLFAX CORPORATION have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. COLFAX CORPORATION partially pays for dentures and braces as well.
- HEALTH INSURANCE: COLFAX CORPORATION offers a superb health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, COLFAX CORPORATION 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: COLFAX CORPORATION 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: Aware of the challenges that come with pregnancy, COLFAX CORPORATION has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: COLFAX CORPORATION has a great 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. COLFAX CORPORATION can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: COLFAX CORPORATION provides a remarkable Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
Benefit | COLFAX CORPORATION | Industry | Virginia |
|---|---|---|---|
| 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
COLFAX CORPORATION 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: COLFAX CORPORATION has an extraordinary 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, COLFAX CORPORATION offers an extraordinary program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, COLFAX CORPORATION offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: COLFAX CORPORATION has a superb Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by COLFAX CORPORATION.
- BONUS PAY: COLFAX CORPORATION has an excellent 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: COLFAX CORPORATION cooperates with partners and team members are eligible for superb discounts for a primary childcare.
- COMMUTER BENEFIT: COLFAX CORPORATION offers exceptional 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: COLFAX CORPORATION 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: COLFAX CORPORATION 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: COLFAX CORPORATION offers a valuable life insurance policy to its team members for an affordable price. COLFAX CORPORATION 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: COLFAX CORPORATION 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: COLFAX CORPORATION believes that impressive volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why COLFAX CORPORATION offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: COLFAX CORPORATION has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | COLFAX CORPORATION | Industry | Virginia |
|---|---|---|---|
| 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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