This report analyzes and compares CRAIN'S DETROIT BUSINESS' employee health insurance and employee benefits with its industry and in Michigan 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
CRAIN'S DETROIT BUSINESS offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. CRAIN'S DETROIT BUSINESS believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: CRAIN'S DETROIT BUSINESS offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, CRAIN'S DETROIT BUSINESS makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: CRAIN'S DETROIT BUSINESS does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: CRAIN'S DETROIT BUSINESS encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, CRAIN'S DETROIT BUSINESS supports their team members on their journey to perfection. Employees have a wide range of valuable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: CRAIN'S DETROIT BUSINESS does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: CRAIN'S DETROIT BUSINESS believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that CRAIN'S DETROIT BUSINESS provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: CRAIN'S DETROIT BUSINESS does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, CRAIN'S DETROIT BUSINESS implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: CRAIN'S DETROIT BUSINESS has a first-class Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at CRAIN'S DETROIT BUSINESS.
Benefit | CRAIN'S DETROIT BUSINESS | Industry | Michigan |
|---|---|---|---|
| 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
CRAIN'S DETROIT BUSINESS 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 CRAIN'S DETROIT BUSINESS's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: CRAIN'S DETROIT BUSINESS is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why CRAIN'S DETROIT BUSINESS implemented a suitable 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 suitable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at CRAIN'S DETROIT BUSINESS 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. CRAIN'S DETROIT BUSINESS partially pays for dentures and braces as well.
- HEALTH INSURANCE: CRAIN'S DETROIT BUSINESS 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, CRAIN'S DETROIT BUSINESS offers solid 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: CRAIN'S DETROIT BUSINESS 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: CRAIN'S DETROIT BUSINESS 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: CRAIN'S DETROIT BUSINESS 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. CRAIN'S DETROIT BUSINESS can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: CRAIN'S DETROIT BUSINESS has an exceptional 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 | CRAIN'S DETROIT BUSINESS | Industry | Michigan |
|---|---|---|---|
| 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
CRAIN'S DETROIT BUSINESS 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: CRAIN'S DETROIT BUSINESS has a superb 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. CRAIN'S DETROIT BUSINESS 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 superb CRAIN'S DETROIT BUSINESS has Matching program that matches 75% of employees' contributions. Whatever CRAIN'S DETROIT BUSINESS contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave CRAIN'S DETROIT BUSINESS. Recognizing that every team member is unique, with specific needs and goals, CRAIN'S DETROIT BUSINESS keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: CRAIN'S DETROIT BUSINESS does not offer adoption assistance reimbursement.
- BONUS PAY: CRAIN'S DETROIT BUSINESS has an impressive 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: CRAIN'S DETROIT BUSINESS offers a great discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: CRAIN'S DETROIT BUSINESS offers impressive 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: CRAIN'S DETROIT BUSINESS 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: CRAIN'S DETROIT BUSINESS has an exceptional disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: CRAIN'S DETROIT BUSINESS offers an excellent 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 excellent life insurance package contains dependent policies as well.
- PAID TIME OFF: CRAIN'S DETROIT BUSINESS realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why CRAIN'S DETROIT BUSINESS has a top-notch vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: CRAIN'S DETROIT BUSINESS believes that outstanding volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why CRAIN'S DETROIT BUSINESS offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: CRAIN'S DETROIT BUSINESS has a suitable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | CRAIN'S DETROIT BUSINESS | Industry | Michigan |
|---|---|---|---|
| 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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