This report analyzes and compares COLONIAL BANCGROUP's employee health insurance and employee benefits with its industry and in Alabama 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
COLONIAL BANCGROUP offers suitable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. COLONIAL BANCGROUP believes that every employee has a valuable set of skills so it helps them plan their careers with suitable developmental resources and mentorships.
- CAREER PLANNING: COLONIAL BANCGROUP believes that career planning of each employee is a key to a successful business and offers solid opportunities so that the employees can reach their full potential. COLONIAL BANCGROUP has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: COLONIAL BANCGROUP does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: COLONIAL BANCGROUP offers top-notch development resources to enable its employees to grow on a personal and a professional plan. With access to top-notch intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: COLONIAL BANCGROUP does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: COLONIAL BANCGROUP does not offer leadership programs.
- ONBOARDING: COLONIAL BANCGROUP 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: Aware of the fact that its team members work hard, COLONIAL BANCGROUP implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: COLONIAL BANCGROUP does not offer tuition reimbursement.
Benefit | COLONIAL BANCGROUP | Industry | Alabama |
|---|---|---|---|
| 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
COLONIAL BANCGROUP 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 COLONIAL BANCGROUP's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: COLONIAL BANCGROUP has an extraordinary counseling program for its employees and their family members. Team members are encouraged by COLONIAL BANCGROUP to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This extraordinary counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: COLONIAL BANCGROUP offers a good 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: COLONIAL BANCGROUP 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: COLONIAL BANCGROUP 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: To financially help its team members with medical emergencies, COLONIAL BANCGROUP 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: COLONIAL BANCGROUP has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: COLONIAL BANCGROUP does not offer telehealth.
- VISION PLAN: COLONIAL BANCGROUP 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 | COLONIAL BANCGROUP | Industry | Alabama |
|---|---|---|---|
| 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
COLONIAL BANCGROUP offers superior financial benefits for employees and their family members. A superior 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: COLONIAL BANCGROUP does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: COLONIAL BANCGROUP 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 COLONIAL BANCGROUP.
- BONUS PAY: COLONIAL BANCGROUP offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for COLONIAL BANCGROUP, and encourage others to do the same.
- CHILDCARE DISCOUNT: COLONIAL BANCGROUP does not offer childcare discount.
- COMMUTER BENEFIT: COLONIAL BANCGROUP acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: COLONIAL BANCGROUP offers an excellent 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: COLONIAL BANCGROUP 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: COLONIAL BANCGROUP 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: COLONIAL BANCGROUP realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why COLONIAL BANCGROUP has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: COLONIAL BANCGROUP believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why COLONIAL BANCGROUP offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: COLONIAL BANCGROUP has an extraordinary parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | COLONIAL BANCGROUP | Industry | Alabama |
|---|---|---|---|
| 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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