This report analyzes and compares FORUM ENERGY TECHNOLOGIES' employee health insurance and employee benefits with its industry and in Texas 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
FORUM ENERGY TECHNOLOGIES has top-notch 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 FORUM ENERGY TECHNOLOGIES. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FORUM ENERGY TECHNOLOGIES believes that career planning of each employee is a key to a successful business and offers great opportunities so that the employees can reach their full potential. FORUM ENERGY TECHNOLOGIES has great resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a valuable coaching and mentoring program, FORUM ENERGY TECHNOLOGIES can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows FORUM ENERGY TECHNOLOGIES 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: FORUM ENERGY TECHNOLOGIES has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: FORUM ENERGY TECHNOLOGIES offers a wide variety of superb courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by FORUM ENERGY TECHNOLOGIES to grow as leaders and learn how to make tough calls.
- 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 FORUM ENERGY TECHNOLOGIES offers an extraordinary 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, FORUM ENERGY TECHNOLOGIES implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: FORUM ENERGY TECHNOLOGIES does not offer tuition reimbursement.
Benefit | FORUM ENERGY TECHNOLOGIES | Industry | Texas |
|---|---|---|---|
| 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
FORUM ENERGY TECHNOLOGIES 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 FORUM ENERGY TECHNOLOGIES's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FORUM ENERGY TECHNOLOGIES wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its first-class counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: Team members at FORUM ENERGY TECHNOLOGIES have a remarkable dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. FORUM ENERGY TECHNOLOGIES partially pays for dentures and braces as well.
- HEALTH INSURANCE: FORUM ENERGY TECHNOLOGIES offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: FORUM ENERGY TECHNOLOGIES offers its team members superb health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. FORUM ENERGY TECHNOLOGIES provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: FORUM ENERGY TECHNOLOGIES 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: FORUM ENERGY TECHNOLOGIES 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: FORUM ENERGY TECHNOLOGIES has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. FORUM ENERGY TECHNOLOGIES covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: FORUM ENERGY TECHNOLOGIES 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 | FORUM ENERGY TECHNOLOGIES | Industry | Texas |
|---|---|---|---|
| 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
FORUM ENERGY TECHNOLOGIES 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: FORUM ENERGY TECHNOLOGIES knows how important it is to think about retirement and start saving on time. That's why it offers a solid 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 FORUM ENERGY TECHNOLOGIES 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, FORUM ENERGY TECHNOLOGIES provides resources which will help team members decide what to do with their 401(k) plan. FORUM ENERGY TECHNOLOGIES offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: FORUM ENERGY TECHNOLOGIES does not offer adoption assistance reimbursement.
- BONUS PAY: FORUM ENERGY TECHNOLOGIES has an outstanding 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: FORUM ENERGY TECHNOLOGIES does not offer childcare discount.
- COMMUTER BENEFIT: FORUM ENERGY TECHNOLOGIES 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: FORUM ENERGY TECHNOLOGIES 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: FORUM ENERGY TECHNOLOGIES has an exceptional 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: FORUM ENERGY TECHNOLOGIES offers a suitable life insurance policy to its team members for an affordable price. FORUM ENERGY TECHNOLOGIES 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: FORUM ENERGY TECHNOLOGIES realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why FORUM ENERGY TECHNOLOGIES has a first-class vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: FORUM ENERGY TECHNOLOGIES does not offer paid volunteer time off.
- PARENTAL LEAVE: FORUM ENERGY TECHNOLOGIES has an excellent parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FORUM ENERGY TECHNOLOGIES | Industry | Texas |
|---|---|---|---|
| 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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