This report analyzes and compares COMED (COMMONWEALTH EDISON)'s employee health insurance and employee benefits with its industry and in Illinois 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
COMED (COMMONWEALTH EDISON) 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 COMED (COMMONWEALTH EDISON). superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: COMED (COMMONWEALTH EDISON) offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, COMED (COMMONWEALTH EDISON) makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: By using a suitable coaching and mentoring program, COMED (COMMONWEALTH EDISON) can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: COMED (COMMONWEALTH EDISON) 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: COMED (COMMONWEALTH EDISON) does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: COMED (COMMONWEALTH EDISON) believes that providing its team members with impressive leadership programs is a crucial step in creating new leaders. By using impressive tools that COMED (COMMONWEALTH EDISON) provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: COMED (COMMONWEALTH EDISON) is aware of the difficulties that new employees might experience when they join the team. That's why COMED (COMMONWEALTH EDISON) 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, COMED (COMMONWEALTH EDISON) implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: COMED (COMMONWEALTH EDISON) realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | COMED (COMMONWEALTH EDISON) | Industry | Illinois |
|---|---|---|---|
| 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
COMED (COMMONWEALTH EDISON) 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 COMED (COMMONWEALTH EDISON)'s superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: COMED (COMMONWEALTH EDISON) has an excellent counseling program for its employees and their family members. Team members are encouraged by COMED (COMMONWEALTH EDISON) 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 excellent counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at COMED (COMMONWEALTH EDISON) have a top-notch dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. COMED (COMMONWEALTH EDISON) partially pays for dentures and braces as well.
- HEALTH INSURANCE: COMED (COMMONWEALTH EDISON) 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: In an effort to improve the wellbeing and quality of life of its team members, COMED (COMMONWEALTH EDISON) offers valuable 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: To financially help its team members with medical emergencies, COMED (COMMONWEALTH EDISON) offers a good 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: COMED (COMMONWEALTH EDISON) has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: COMED (COMMONWEALTH EDISON) has a suitable 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. COMED (COMMONWEALTH EDISON) can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: COMED (COMMONWEALTH EDISON) 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 | COMED (COMMONWEALTH EDISON) | Industry | Illinois |
|---|---|---|---|
| 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 good financial benefits at COMED (COMMONWEALTH EDISON). 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. COMED (COMMONWEALTH EDISON) offers good life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect COMED (COMMONWEALTH EDISON) to partially cover the expenses.
- 401(K) PLAN: COMED (COMMONWEALTH EDISON) 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 COMED (COMMONWEALTH EDISON) 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, COMED (COMMONWEALTH EDISON) provides resources which will help team members decide what to do with their 401(k) plan. COMED (COMMONWEALTH EDISON) offers a suitable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: COMED (COMMONWEALTH EDISON) has an outstanding 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: COMED (COMMONWEALTH EDISON) offers superb bonuses to team members who excel in their field of work, provide extraordinary results for COMED (COMMONWEALTH EDISON), and encourage others to do the same.
- CHILDCARE DISCOUNT: COMED (COMMONWEALTH EDISON) does not offer childcare discount.
- COMMUTER BENEFIT: COMED (COMMONWEALTH EDISON) 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: COMED (COMMONWEALTH EDISON) has a suitable 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: COMED (COMMONWEALTH EDISON) 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: COMED (COMMONWEALTH EDISON) has a remarkable 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: COMED (COMMONWEALTH EDISON) wants for its team members to lead a happy and fulfilled life so it has a suitable 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: COMED (COMMONWEALTH EDISON) does not offer paid volunteer time off.
- PARENTAL LEAVE: COMED (COMMONWEALTH EDISON) has an outstanding parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | COMED (COMMONWEALTH EDISON) | Industry | Illinois |
|---|---|---|---|
| 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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