This report analyzes and compares FARMERS INSURANCE GROUP's employee health insurance and employee benefits with its industry and in California 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
FARMERS INSURANCE GROUP offers suitable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. FARMERS INSURANCE GROUP believes that every employee has a valuable set of skills so it helps them plan their careers with suitable developmental resources and mentorships.
- CAREER PLANNING: FARMERS INSURANCE GROUP continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that FARMERS INSURANCE GROUP uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: FARMERS INSURANCE GROUP offers first-class coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: FARMERS INSURANCE GROUP encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, FARMERS INSURANCE GROUP 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: FARMERS INSURANCE GROUP has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: FARMERS INSURANCE GROUP is always on the lookout for new leadership material and offers great development programs for its team members. With access to great resources, FARMERS INSURANCE GROUP ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: FARMERS INSURANCE GROUP does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, FARMERS INSURANCE GROUP implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: FARMERS INSURANCE GROUP does not offer tuition reimbursement.
Benefit | FARMERS INSURANCE GROUP | Industry | California |
|---|---|---|---|
| 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
FARMERS INSURANCE GROUP offers remarkable 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 FARMERS INSURANCE GROUP's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FARMERS INSURANCE GROUP does not offer counseling.
- DENTAL PLAN: FARMERS INSURANCE GROUP 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: FARMERS INSURANCE GROUP provides an outstanding health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: FARMERS INSURANCE GROUP does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: FARMERS INSURANCE GROUP offers an impressive 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: FARMERS INSURANCE GROUP has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: FARMERS INSURANCE GROUP has a great 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. FARMERS INSURANCE GROUP can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: FARMERS INSURANCE GROUP provides a superb Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
Benefit | FARMERS INSURANCE GROUP | Industry | California |
|---|---|---|---|
| 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
FARMERS INSURANCE GROUP 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: FARMERS INSURANCE GROUP has an outstanding 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, FARMERS INSURANCE GROUP offers an outstanding program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, FARMERS INSURANCE GROUP offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: FARMERS INSURANCE GROUP has a superb 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 FARMERS INSURANCE GROUP.
- BONUS PAY: FARMERS INSURANCE GROUP offers superior bonuses to team members who excel in their field of work, provide extraordinary results for FARMERS INSURANCE GROUP, and encourage others to do the same.
- CHILDCARE DISCOUNT: FARMERS INSURANCE GROUP cooperates with partners and team members are eligible for top-notch discounts for a primary childcare.
- COMMUTER BENEFIT: FARMERS INSURANCE GROUP 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: FARMERS INSURANCE GROUP offers an extraordinary daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.
- DISABILITY: FARMERS INSURANCE GROUP offers a superior 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: FARMERS INSURANCE GROUP offers an extraordinary 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 extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: FARMERS INSURANCE GROUP realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why FARMERS INSURANCE GROUP has a superb vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: FARMERS INSURANCE GROUP has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, FARMERS INSURANCE GROUP stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: FARMERS INSURANCE GROUP has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FARMERS INSURANCE GROUP | Industry | California |
|---|---|---|---|
| 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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