This report analyzes and compares COVANTA's employee health insurance and employee benefits with its industry and in New Jersey 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
COVANTA has top-notch 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 COVANTA. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: COVANTA offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, COVANTA makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: COVANTA believes that an excellent coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: COVANTA offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: COVANTA has an excellent GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: COVANTA offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by COVANTA to grow as leaders and learn how to make tough calls.
- ONBOARDING: COVANTA offers a top-notch 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: COVANTA knows that dedicated team members are hard to come by so it has an outstanding Recognition program for those who stand out and continually contribute to COVANTA.
- TUITION REIMBURSEMENT: COVANTA has a remarkable Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at COVANTA.
Benefit | COVANTA | Industry | New Jersey |
|---|---|---|---|
| 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
COVANTA 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 COVANTA's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: COVANTA is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why COVANTA implemented a great counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This great counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: COVANTA cares about its team members' dental health so it offers an outstanding 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: COVANTA provides an excellent health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: COVANTA offers its team members superb health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. COVANTA provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: COVANTA has a top-notch 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: COVANTA has a valuable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: COVANTA does not offer telehealth.
- VISION PLAN: COVANTA 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 | COVANTA | Industry | New Jersey |
|---|---|---|---|
| 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
COVANTA 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: COVANTA has a top-notch 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. COVANTA 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 top-notch COVANTA has Matching program that matches 75% of employees' contributions. Whatever COVANTA contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave COVANTA. Recognizing that every team member is unique, with specific needs and goals, COVANTA keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: COVANTA does not offer adoption assistance reimbursement.
- BONUS PAY: COVANTA has an extraordinary 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: COVANTA does not offer childcare discount.
- COMMUTER BENEFIT: COVANTA acknowledges the fact that some team members have high commuting costs so it offers them remarkable commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: COVANTA 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: COVANTA offers a superb 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: COVANTA has a superb 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: COVANTA 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: COVANTA has a superior volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, COVANTA stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: COVANTA has a first-class parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | COVANTA | Industry | New Jersey |
|---|---|---|---|
| 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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