This report analyzes and compares FREIGHTCAR AMERICA's employee health insurance and employee benefits with its industry and in Illinois 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
FREIGHTCAR AMERICA offers solid career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. FREIGHTCAR AMERICA 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: FREIGHTCAR AMERICA continually evaluates its team members to determine the potential and direction of employees' careers. The exceptional tools that FREIGHTCAR AMERICA uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: By using a suitable coaching and mentoring program, FREIGHTCAR AMERICA can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: excellent development resources are what allows FREIGHTCAR AMERICA 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: FREIGHTCAR AMERICA does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: FREIGHTCAR AMERICA offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by FREIGHTCAR AMERICA to grow as leaders and learn how to make tough calls.
- ONBOARDING: FREIGHTCAR AMERICA does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, FREIGHTCAR AMERICA implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: FREIGHTCAR AMERICA does not offer tuition reimbursement.
Benefit | FREIGHTCAR AMERICA | Industry | Illinois |
|---|---|---|---|
| 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
FREIGHTCAR AMERICA has valuable health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers valuable 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 valuable healthcare spending account at their disposal.
- COUNSELING: FREIGHTCAR AMERICA does not offer counseling.
- DENTAL PLAN: FREIGHTCAR AMERICA 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: FREIGHTCAR AMERICA 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: FREIGHTCAR AMERICA 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, FREIGHTCAR AMERICA offers a great 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: Aware of the challenges that come with pregnancy, FREIGHTCAR AMERICA has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: FREIGHTCAR AMERICA does not offer telehealth.
- VISION PLAN: FREIGHTCAR AMERICA offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | FREIGHTCAR AMERICA | Industry | Illinois |
|---|---|---|---|
| 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
FREIGHTCAR AMERICA 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: FREIGHTCAR AMERICA knows how important it is to think about retirement and start saving on time. That's why it offers a suitable 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 FREIGHTCAR AMERICA 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, FREIGHTCAR AMERICA provides resources which will help team members decide what to do with their 401(k) plan. FREIGHTCAR AMERICA offers a suitable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: FREIGHTCAR AMERICA does not offer adoption assistance reimbursement.
- BONUS PAY: FREIGHTCAR AMERICA 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: FREIGHTCAR AMERICA does not offer childcare discount.
- COMMUTER BENEFIT: FREIGHTCAR AMERICA acknowledges the fact that some team members have high commuting costs so it offers them first-class commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: FREIGHTCAR AMERICA offers an outstanding 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: FREIGHTCAR AMERICA has an outstanding 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: FREIGHTCAR AMERICA offers an exceptional 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 exceptional life insurance package contains dependent policies as well.
- PAID TIME OFF: FREIGHTCAR AMERICA realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why FREIGHTCAR AMERICA has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: FREIGHTCAR AMERICA believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why FREIGHTCAR AMERICA offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: FREIGHTCAR AMERICA has a remarkable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FREIGHTCAR AMERICA | Industry | Illinois |
|---|---|---|---|
| 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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