This report analyzes and compares GENTHERM's employee health insurance and employee benefits with its industry and in Michigan 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
GENTHERM has superb 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 GENTHERM. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: GENTHERM offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, GENTHERM makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, GENTHERM can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: GENTHERM offers first-class development resources to enable its employees to grow on a personal and a professional plan. With access to first-class intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: GENTHERM has an impressive GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: GENTHERM offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by GENTHERM to grow as leaders and learn how to make tough calls.
- ONBOARDING: GENTHERM offers a remarkable Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: GENTHERM has a top-notch 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: GENTHERM has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at GENTHERM.
Benefit | GENTHERM | Industry | Michigan |
|---|---|---|---|
| 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
GENTHERM 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 GENTHERM's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: GENTHERM wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superior 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: GENTHERM offers a great 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: GENTHERM offers a top-notch health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: GENTHERM does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: GENTHERM offers an exceptional 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: Aware of the challenges that come with pregnancy, GENTHERM has created a first-class maternity support program to support its expecting team members.
- TELEHEALTH: GENTHERM has implemented a top-notch telehealth policy for its members to use any time of the day, every single day. GENTHERM covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: GENTHERM 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 | GENTHERM | Industry | Michigan |
|---|---|---|---|
| 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
GENTHERM 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: GENTHERM knows how important it is to think about retirement and start saving on time. That's why it offers a valuable 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 GENTHERM 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, GENTHERM provides resources which will help team members decide what to do with their 401(k) plan. GENTHERM offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: GENTHERM has a top-notch Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by GENTHERM.
- BONUS PAY: GENTHERM offers superb bonuses to team members who excel in their field of work, provide extraordinary results for GENTHERM, and encourage others to do the same.
- CHILDCARE DISCOUNT: GENTHERM offers a suitable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: GENTHERM 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: GENTHERM offers a superior daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
- DISABILITY: GENTHERM 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: GENTHERM offers a valuable life insurance policy to its team members for an affordable price. GENTHERM 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: GENTHERM realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why GENTHERM has a top-notch vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: GENTHERM recognizes the importance of giving back to the community so it offers a great volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by GENTHERM, on volunteer work of their choice.
- PARENTAL LEAVE: GENTHERM has a suitable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | GENTHERM | Industry | Michigan |
|---|---|---|---|
| 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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