This report analyzes and compares FIFTH THIRD BANCORP'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
FIFTH THIRD BANCORP 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 FIFTH THIRD BANCORP. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FIFTH THIRD BANCORP offers superb possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, FIFTH THIRD BANCORP makes sure that every single team member takes the full advantage of superb career planning programs.
- COACHING AND MENTORING: FIFTH THIRD BANCORP does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: FIFTH THIRD BANCORP encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, FIFTH THIRD BANCORP 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: FIFTH THIRD BANCORP does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: FIFTH THIRD BANCORP believes that providing its team members with extraordinary leadership programs is a crucial step in creating new leaders. By using extraordinary tools that FIFTH THIRD BANCORP provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: FIFTH THIRD BANCORP offers a first-class 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: FIFTH THIRD BANCORP 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 FIFTH THIRD BANCORP.
- TUITION REIMBURSEMENT: FIFTH THIRD BANCORP realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | FIFTH THIRD BANCORP | 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
FIFTH THIRD BANCORP has solid health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers solid dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a solid healthcare spending account at their disposal.
- COUNSELING: FIFTH THIRD BANCORP does not offer counseling.
- DENTAL PLAN: FIFTH THIRD BANCORP offers a valuable dental plan for its team members to take care of their basic dental needs. The plan covers preventive dental exams in full. Team members have an option to pay for a more inclusive dental plan with better coverage.
- HEALTH INSURANCE: FIFTH THIRD BANCORP 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, FIFTH THIRD BANCORP 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: FIFTH THIRD BANCORP has a remarkable 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: Aware of the challenges that come with pregnancy, FIFTH THIRD BANCORP has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: FIFTH THIRD BANCORP does not offer telehealth.
- VISION PLAN: FIFTH THIRD BANCORP offers a good Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | FIFTH THIRD BANCORP | 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
FIFTH THIRD BANCORP offers first-class financial benefits for employees and their family members. A first-class 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: FIFTH THIRD BANCORP knows how important it is to think about retirement and start saving on time. That's why it offers a good 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and FIFTH THIRD BANCORP will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, FIFTH THIRD BANCORP provides resources which will help team members decide what to do with their 401(k) plan. FIFTH THIRD BANCORP offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: FIFTH THIRD BANCORP has an exceptional 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: FIFTH THIRD BANCORP 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: FIFTH THIRD BANCORP offers a good discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: FIFTH THIRD BANCORP has a good commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: FIFTH THIRD BANCORP 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: FIFTH THIRD BANCORP has a valuable 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 valuable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: FIFTH THIRD BANCORP 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: FIFTH THIRD BANCORP realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why FIFTH THIRD BANCORP has a superb vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: FIFTH THIRD BANCORP has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, FIFTH THIRD BANCORP stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: FIFTH THIRD BANCORP has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FIFTH THIRD BANCORP | 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 |
Improve this report:
We have prepared FIFTH THIRD BANCORP's benefits report with the best of our knowledge. If you believe some information here is incorrect, please click the link below and send as a note.
We will contact you and/or update the information in 2-5 business days.