This report analyzes and compares ELECTRIC BOAT'S' employee health insurance and employee benefits with its industry and in Massachusetts 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
ELECTRIC BOAT'S has first-class 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 ELECTRIC BOAT'S. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: ELECTRIC BOAT'S offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, ELECTRIC BOAT'S makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: By using a valuable coaching and mentoring program, ELECTRIC BOAT'S can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows ELECTRIC BOAT'S to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in exceptional workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: ELECTRIC BOAT'S does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: ELECTRIC BOAT'S is always on the lookout for new leadership material and offers suitable development programs for its team members. With access to suitable resources, ELECTRIC BOAT'S ensures that team members with a potential for becoming leaders can achieve their goals.
- 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 ELECTRIC BOAT'S offers an impressive 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, ELECTRIC BOAT'S implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: ELECTRIC BOAT'S realizes that continuous education is a key to success so it has an impressive Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | ELECTRIC BOAT'S | Industry | Massachusetts |
|---|---|---|---|
| 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
ELECTRIC BOAT'S 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 ELECTRIC BOAT'S's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: ELECTRIC BOAT'S is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why ELECTRIC BOAT'S implemented a valuable 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 valuable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at ELECTRIC BOAT'S have a superior dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. ELECTRIC BOAT'S partially pays for dentures and braces as well.
- HEALTH INSURANCE: ELECTRIC BOAT'S provides an extraordinary 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, ELECTRIC BOAT'S offers good 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: ELECTRIC BOAT'S offers an excellent 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: ELECTRIC BOAT'S 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: ELECTRIC BOAT'S has an exceptional 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: ELECTRIC BOAT'S has an impressive 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 | ELECTRIC BOAT'S | Industry | Massachusetts |
|---|---|---|---|
| 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
ELECTRIC BOAT'S 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: ELECTRIC BOAT'S 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. ELECTRIC BOAT'S 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 ELECTRIC BOAT'S has Matching program that matches 75% of employees' contributions. Whatever ELECTRIC BOAT'S contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave ELECTRIC BOAT'S. Recognizing that every team member is unique, with specific needs and goals, ELECTRIC BOAT'S keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: ELECTRIC BOAT'S has a remarkable 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 ELECTRIC BOAT'S.
- BONUS PAY: ELECTRIC BOAT'S has a good 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: ELECTRIC BOAT'S has an exceptional childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: ELECTRIC BOAT'S offers exceptional 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: ELECTRIC BOAT'S 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: ELECTRIC BOAT'S has an impressive 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: ELECTRIC BOAT'S offers a suitable life insurance policy to its team members for an affordable price. ELECTRIC BOAT'S participates with 50% of the costs of the policy which makes it enticing for employees to buy it. Beneficiaries of team members can expect to get up to 1 year worth of employee's salary.
- PAID TIME OFF: ELECTRIC BOAT'S 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: ELECTRIC BOAT'S has a superior volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, ELECTRIC BOAT'S stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: ELECTRIC BOAT'S has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | ELECTRIC BOAT'S | Industry | Massachusetts |
|---|---|---|---|
| 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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