This report analyzes and compares FIVE BELOW's employee health insurance and employee benefits with its industry and in Pennsylvania State.

COMPARE FIVE BELOW'S EMPLOYEE HEALTH INSURANCE AND BENEFITS

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

  1. Career Benefits
  2. Healthcare Benefits
  3. Financial Benefits

Career benefits

FIVE BELOW offers suitable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. FIVE BELOW 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: FIVE BELOW believes that career planning of each employee is a key to a successful business and offers valuable opportunities so that the employees can reach their full potential. FIVE BELOW has valuable resources at its disposal to achieve this goal.
  • COACHING AND MENTORING: FIVE BELOW 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: FIVE BELOW encourages its team members to work on their existing skills and gain new ones continually. By providing great development resources, FIVE BELOW supports their team members on their journey to perfection. Employees have a wide range of great resources at their disposal for professional and personal growth.
  • GED REIMBURSEMENT: FIVE BELOW has a great GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
  • LEADERSHIP PROGRAMS: FIVE BELOW does not offer leadership programs.
  • ONBOARDING: FIVE BELOW does not offer onboarding.
  • RECOGNITION PROGRAMS: FIVE BELOW has a superb Recognition program in place and makes sure that team members who constantly achieve extraordinary results and work well with others are properly rewarded for their efforts.
  • TUITION REIMBURSEMENT: FIVE BELOW has a remarkable Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at FIVE BELOW.
FIVE BELOW's career benefits comparison table

Benefit

FIVE BELOW

Industry

Pennsylvania

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

FIVE BELOW offers superior 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 FIVE BELOW's superior maternity support program, nutritional and psychological counseling, and health plan incentives.

  • COUNSELING: FIVE BELOW is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why FIVE BELOW 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: FIVE BELOW cares about its team members' dental health so it offers an extraordinary 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: FIVE BELOW offers a remarkable health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
  • HEALTH PLAN INCENTIVES: FIVE BELOW does not offer health plan incentives.
  • HEALTHCARE SPENDING ACCOUNTS: FIVE BELOW has a superb 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, FIVE BELOW has created a first-class maternity support program to support its expecting team members.
  • TELEHEALTH: FIVE BELOW does not offer telehealth.
  • VISION PLAN: FIVE BELOW has an outstanding 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.
FIVE BELOW's healthcare benefits comparison table

Benefit

FIVE BELOW

Industry

Pennsylvania

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

FIVE BELOW 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: FIVE BELOW does not offer 401(k) plan.
  • ADOPTION ASSISTANCE REIMBURSEMENT: FIVE BELOW has an outstanding 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: FIVE BELOW offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for FIVE BELOW, and encourage others to do the same.
  • CHILDCARE DISCOUNT: FIVE BELOW has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
  • COMMUTER BENEFIT: FIVE BELOW acknowledges the fact that some team members have high commuting costs so it offers them remarkable commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
  • DAYCARE FLEXIBLE SPENDING ACCOUNT: FIVE BELOW offers an impressive 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: FIVE BELOW has an extraordinary 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: FIVE BELOW offers a suitable life insurance policy to its team members for an affordable price. FIVE BELOW 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: FIVE BELOW realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why FIVE BELOW has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
  • PAID VOLUNTEER TIME OFF: FIVE BELOW believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why FIVE BELOW offers its team members up to 50 hours of paid volunteer time off.
  • PARENTAL LEAVE: FIVE BELOW has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
FIVE BELOW's financial benefits comparison table

Benefit

FIVE BELOW

Industry

Pennsylvania

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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