This report analyzes and compares HUTCHINSON TECHNOLOGY's employee health insurance and employee benefits with its industry and in Minnesota 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
HUTCHINSON TECHNOLOGY offers suitable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. HUTCHINSON TECHNOLOGY believes that every employee has a valuable set of skills so it helps them plan their careers with suitable developmental resources and mentorships.
- CAREER PLANNING: HUTCHINSON TECHNOLOGY offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, HUTCHINSON TECHNOLOGY makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: HUTCHINSON TECHNOLOGY does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows HUTCHINSON TECHNOLOGY 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: HUTCHINSON TECHNOLOGY has a suitable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: HUTCHINSON TECHNOLOGY does not offer leadership programs.
- ONBOARDING: HUTCHINSON TECHNOLOGY does not offer onboarding.
- RECOGNITION PROGRAMS: HUTCHINSON TECHNOLOGY knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to HUTCHINSON TECHNOLOGY.
- TUITION REIMBURSEMENT: HUTCHINSON TECHNOLOGY has a suitable 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 | HUTCHINSON TECHNOLOGY | Industry | Minnesota |
|---|---|---|---|
| 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
HUTCHINSON TECHNOLOGY has suitable health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers suitable 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 suitable healthcare spending account at their disposal.
- COUNSELING: HUTCHINSON TECHNOLOGY is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why HUTCHINSON TECHNOLOGY implemented a suitable counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This suitable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: HUTCHINSON TECHNOLOGY offers a solid 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: HUTCHINSON TECHNOLOGY offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: HUTCHINSON TECHNOLOGY offers its team members superior 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. HUTCHINSON TECHNOLOGY provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: HUTCHINSON TECHNOLOGY has a superior 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, HUTCHINSON TECHNOLOGY has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: HUTCHINSON TECHNOLOGY does not offer telehealth.
- VISION PLAN: HUTCHINSON TECHNOLOGY 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 | HUTCHINSON TECHNOLOGY | Industry | Minnesota |
|---|---|---|---|
| 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
HUTCHINSON TECHNOLOGY 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: HUTCHINSON TECHNOLOGY has a superb 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. HUTCHINSON TECHNOLOGY provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a superb HUTCHINSON TECHNOLOGY has Matching program that matches 75% of employees' contributions. Whatever HUTCHINSON TECHNOLOGY contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave HUTCHINSON TECHNOLOGY. Recognizing that every team member is unique, with specific needs and goals, HUTCHINSON TECHNOLOGY keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: HUTCHINSON TECHNOLOGY has a remarkable 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 HUTCHINSON TECHNOLOGY.
- BONUS PAY: HUTCHINSON TECHNOLOGY has an excellent 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: HUTCHINSON TECHNOLOGY offers a suitable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: HUTCHINSON TECHNOLOGY has a suitable 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: HUTCHINSON TECHNOLOGY offers a top-notch 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: HUTCHINSON TECHNOLOGY 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: HUTCHINSON TECHNOLOGY has a first-class 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: HUTCHINSON TECHNOLOGY 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: HUTCHINSON TECHNOLOGY does not offer paid volunteer time off.
- PARENTAL LEAVE: HUTCHINSON TECHNOLOGY has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | HUTCHINSON TECHNOLOGY | Industry | Minnesota |
|---|---|---|---|
| 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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