This report analyzes and compares FRANKLIN ELECTRIC's employee health insurance and employee benefits with its industry and in Indiana 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
FRANKLIN ELECTRIC 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 FRANKLIN ELECTRIC. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FRANKLIN ELECTRIC offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, FRANKLIN ELECTRIC makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: FRANKLIN ELECTRIC does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: excellent development resources are what allows FRANKLIN ELECTRIC to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in excellent workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: FRANKLIN ELECTRIC has an exceptional GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: FRANKLIN ELECTRIC does not offer leadership programs.
- 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 FRANKLIN ELECTRIC offers an extraordinary Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: FRANKLIN ELECTRIC 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: FRANKLIN ELECTRIC has a good Tuition Reimbursement Program and participates with up to 25% of the costs for team members who want a job-related certificate or a degree.
Benefit | FRANKLIN ELECTRIC | Industry | Indiana |
|---|---|---|---|
| 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
FRANKLIN ELECTRIC offers superb 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 FRANKLIN ELECTRIC's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FRANKLIN ELECTRIC has an outstanding counseling program for its employees and their family members. Team members are encouraged by FRANKLIN ELECTRIC 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 outstanding counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: FRANKLIN ELECTRIC 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: FRANKLIN ELECTRIC offers a superb health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, FRANKLIN ELECTRIC offers suitable 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: FRANKLIN ELECTRIC 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, FRANKLIN ELECTRIC has created a first-class maternity support program to support its expecting team members.
- TELEHEALTH: FRANKLIN ELECTRIC does not offer telehealth.
- VISION PLAN: FRANKLIN ELECTRIC has an impressive 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 | FRANKLIN ELECTRIC | Industry | Indiana |
|---|---|---|---|
| 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
FRANKLIN ELECTRIC offers superior financial benefits for employees and their family members. A superior 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: FRANKLIN ELECTRIC does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: FRANKLIN ELECTRIC has an excellent 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: FRANKLIN ELECTRIC has a good bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
- CHILDCARE DISCOUNT: FRANKLIN ELECTRIC cooperates with partners and team members are eligible for superb discounts for a primary childcare.
- COMMUTER BENEFIT: FRANKLIN ELECTRIC acknowledges the fact that some team members have high commuting costs so it offers them top-notch commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: FRANKLIN ELECTRIC 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: FRANKLIN ELECTRIC offers a superb 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: FRANKLIN ELECTRIC offers a great life insurance policy to its team members for an affordable price. FRANKLIN ELECTRIC 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: FRANKLIN ELECTRIC realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why FRANKLIN ELECTRIC has a superb vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: FRANKLIN ELECTRIC has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, FRANKLIN ELECTRIC stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: FRANKLIN ELECTRIC has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FRANKLIN ELECTRIC | Industry | Indiana |
|---|---|---|---|
| 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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