This report analyzes and compares FEDERAL RESERVE BANK OF CLEVELAND's employee health insurance and employee benefits with its industry and in Ohio 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
FEDERAL RESERVE BANK OF CLEVELAND offers solid career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. FEDERAL RESERVE BANK OF CLEVELAND believes that every employee has a valuable set of skills so it helps them plan their careers with solid developmental resources and mentorships.
- CAREER PLANNING: FEDERAL RESERVE BANK OF CLEVELAND offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, FEDERAL RESERVE BANK OF CLEVELAND makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: FEDERAL RESERVE BANK OF CLEVELAND believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: FEDERAL RESERVE BANK OF CLEVELAND encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, FEDERAL RESERVE BANK OF CLEVELAND supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: FEDERAL RESERVE BANK OF CLEVELAND does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: FEDERAL RESERVE BANK OF CLEVELAND does not offer leadership programs.
- ONBOARDING: FEDERAL RESERVE BANK OF CLEVELAND does not offer onboarding.
- RECOGNITION PROGRAMS: FEDERAL RESERVE BANK OF CLEVELAND knows that dedicated team members are hard to come by so it has an exceptional Recognition program for those who stand out and continually contribute to FEDERAL RESERVE BANK OF CLEVELAND.
- TUITION REIMBURSEMENT: FEDERAL RESERVE BANK OF CLEVELAND does not offer tuition reimbursement.
Benefit | FEDERAL RESERVE BANK OF CLEVELAND | Industry | Ohio |
|---|---|---|---|
| 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
FEDERAL RESERVE BANK OF CLEVELAND 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 FEDERAL RESERVE BANK OF CLEVELAND's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FEDERAL RESERVE BANK OF CLEVELAND has an impressive counseling program for its employees and their family members. Team members are encouraged by FEDERAL RESERVE BANK OF CLEVELAND to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This impressive counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: FEDERAL RESERVE BANK OF CLEVELAND 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: FEDERAL RESERVE BANK OF CLEVELAND 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: FEDERAL RESERVE BANK OF CLEVELAND is aware of the fact that a healthy employee is a productive employee so it offers exceptional health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, FEDERAL RESERVE BANK OF CLEVELAND offers a valuable healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: FEDERAL RESERVE BANK OF CLEVELAND has a great maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: FEDERAL RESERVE BANK OF CLEVELAND does not offer telehealth.
- VISION PLAN: FEDERAL RESERVE BANK OF CLEVELAND 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 | FEDERAL RESERVE BANK OF CLEVELAND | Industry | Ohio |
|---|---|---|---|
| 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
FEDERAL RESERVE BANK OF CLEVELAND 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: FEDERAL RESERVE BANK OF CLEVELAND has an impressive 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, FEDERAL RESERVE BANK OF CLEVELAND offers an impressive 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, FEDERAL RESERVE BANK OF CLEVELAND offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: FEDERAL RESERVE BANK OF CLEVELAND has an impressive Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: FEDERAL RESERVE BANK OF CLEVELAND 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: FEDERAL RESERVE BANK OF CLEVELAND cooperates with partners and team members are eligible for top-notch discounts for a primary childcare.
- COMMUTER BENEFIT: FEDERAL RESERVE BANK OF CLEVELAND 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: FEDERAL RESERVE BANK OF CLEVELAND 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: FEDERAL RESERVE BANK OF CLEVELAND has a good disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: FEDERAL RESERVE BANK OF CLEVELAND has a remarkable 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: FEDERAL RESERVE BANK OF CLEVELAND 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: FEDERAL RESERVE BANK OF CLEVELAND does not offer paid volunteer time off.
- PARENTAL LEAVE: FEDERAL RESERVE BANK OF CLEVELAND has an excellent parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FEDERAL RESERVE BANK OF CLEVELAND | Industry | Ohio |
|---|---|---|---|
| 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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