This report analyzes and compares COTY's employee health insurance and employee benefits with its industry and in New York 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
COTY offers good career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. COTY 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: COTY believes that career planning of each employee is a key to a successful business and offers good opportunities so that the employees can reach their full potential. COTY has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, COTY can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: COTY encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, COTY supports their team members on their journey to perfection. Employees have a wide range of solid resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: COTY has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: COTY does not offer leadership programs.
- ONBOARDING: COTY is aware of the difficulties that new employees might experience when they join the team. That's why COTY has a great Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: COTY has a first-class 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: COTY 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.
|Career planning Benefits|
|Coaching and mentoring Benefits|
|Development resources Benefits|
|GED reimbursement Benefits|
|Leadership programs Benefits|
|Recognition programs Benefits|
|Tuition reimbursement Benefits|
COTY 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 COTY's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: COTY wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its first-class 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: COTY 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: COTY offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: COTY does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: COTY has a remarkable 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: COTY offers an exceptional maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: COTY has an outstanding telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: COTY has an extraordinary 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.
|Dental Plan Benefits|
|Health Insurance Benefits|
|Health Plan Incentives Benefits|
|Healthcare Spending Accounts Benefits|
|Maternity support program Benefits|
|Vision Plan Benefits|
COTY 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: COTY has a superior 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. COTY 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 superior COTY has Matching program that matches 75% of employees' contributions. Whatever COTY contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave COTY. Recognizing that every team member is unique, with specific needs and goals, COTY keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: COTY has a first-class 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 COTY.
- BONUS PAY: COTY 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: COTY offers a suitable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: COTY offers outstanding 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: COTY has a solid 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: COTY offers a top-notch 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: COTY offers an exceptional 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 exceptional life insurance package contains dependent policies as well.
- PAID TIME OFF: COTY 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: COTY believes that outstanding volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why COTY offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: COTY has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
|401(k) plan Benefits|
|Adoption assistance reimbursement Benefits|
|Bonus pay Benefits|
|Childcare discount Benefits|
|Commuter benefit Benefits|
|Daycare flexible spending account Benefits|
|Life insurance Benefits|
|Paid time off Benefits|
|Paid volunteer time off Benefits|
|Parental leave Benefits|
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