This report analyzes and compares GENENTECH's employee health insurance and employee benefits with its industry and in California 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
GENENTECH offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. GENENTECH believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: GENENTECH continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that GENENTECH 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, GENENTECH can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: GENENTECH encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, GENENTECH 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: GENENTECH has an exceptional GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: GENENTECH does not offer leadership programs.
- ONBOARDING: GENENTECH is aware of the difficulties that new employees might experience when they join the team. That's why GENENTECH has a good Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, GENENTECH implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: GENENTECH does not offer tuition reimbursement.
Benefit | GENENTECH | Industry | California |
|---|---|---|---|
| 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
GENENTECH 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 GENENTECH's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: GENENTECH does not offer counseling.
- DENTAL PLAN: GENENTECH cares about its team members' dental health so it offers an impressive 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: GENENTECH 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: GENENTECH is aware of the fact that a healthy employee is a productive employee so it offers impressive 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, GENENTECH offers a suitable 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: GENENTECH has a valuable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: GENENTECH has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. GENENTECH covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: GENENTECH provides a first-class 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 | GENENTECH | Industry | California |
|---|---|---|---|
| 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
GENENTECH 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: GENENTECH has an outstanding 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, GENENTECH offers an outstanding program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, GENENTECH offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: GENENTECH 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: GENENTECH has a valuable 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: GENENTECH cooperates with partners and team members are eligible for remarkable discounts for a primary childcare.
- COMMUTER BENEFIT: GENENTECH has a valuable 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: GENENTECH 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: GENENTECH offers a remarkable 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: GENENTECH has a remarkable life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: GENENTECH has an exceptional vacation program for its team members with a great deal of paid vacation days. Team members can spend those days at their own pace, any time of the year. Various national and personal holidays are taken into account as well.
- PAID VOLUNTEER TIME OFF: GENENTECH believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why GENENTECH offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: GENENTECH has an extraordinary parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | GENENTECH | Industry | California |
|---|---|---|---|
| 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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