This report analyzes and compares COMMERCE BANK's employee health insurance and employee benefits with its industry and in Missouri 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
COMMERCE BANK 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 COMMERCE BANK. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: COMMERCE BANK 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. COMMERCE BANK has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: COMMERCE BANK does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: excellent development resources are what allows COMMERCE BANK to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in excellent workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: COMMERCE BANK has an extraordinary GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: COMMERCE BANK does not offer leadership programs.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why COMMERCE BANK offers an extraordinary Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, COMMERCE BANK implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: COMMERCE BANK 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 | COMMERCE BANK | Industry | Missouri |
|---|---|---|---|
| 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
COMMERCE BANK offers superb 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 COMMERCE BANK's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: COMMERCE BANK does not offer counseling.
- DENTAL PLAN: COMMERCE BANK cares about its team members' dental health so it offers an extraordinary 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: COMMERCE BANK 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, COMMERCE BANK offers suitable 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: COMMERCE BANK offers an outstanding healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, COMMERCE BANK has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: COMMERCE BANK has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. COMMERCE BANK covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: COMMERCE BANK 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 | COMMERCE BANK | Industry | Missouri |
|---|---|---|---|
| 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
COMMERCE BANK offers remarkable financial benefits for employees and their family members. A remarkable 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: COMMERCE BANK has a remarkable 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. COMMERCE BANK 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 remarkable COMMERCE BANK has Matching program that matches 75% of employees' contributions. Whatever COMMERCE BANK contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave COMMERCE BANK. Recognizing that every team member is unique, with specific needs and goals, COMMERCE BANK keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: COMMERCE BANK has an extraordinary 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: COMMERCE BANK has a great 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: COMMERCE BANK offers a great discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: COMMERCE BANK has a great 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: COMMERCE BANK has a great 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: COMMERCE BANK offers a first-class short-term disability coverage for its team members. Through disability program, part of the employee's salary is replaced by the coverage for a limited time. This enables team members to have a financial stability during the difficult period of their lives and helps them to get back on track.
- LIFE INSURANCE: COMMERCE BANK 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: COMMERCE BANK realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why COMMERCE BANK has a superb vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: COMMERCE BANK believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why COMMERCE BANK offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: COMMERCE BANK has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | COMMERCE BANK | Industry | Missouri |
|---|---|---|---|
| 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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