This report analyzes and compares INNOVALIGHT'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
INNOVALIGHT 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 INNOVALIGHT. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: INNOVALIGHT offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, INNOVALIGHT makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: INNOVALIGHT believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: INNOVALIGHT encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, INNOVALIGHT 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: INNOVALIGHT has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: INNOVALIGHT believes that providing its team members with excellent leadership programs is a crucial step in creating new leaders. By using excellent tools that INNOVALIGHT provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: INNOVALIGHT does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, INNOVALIGHT implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: INNOVALIGHT does not offer tuition reimbursement.
Benefit | INNOVALIGHT | 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
INNOVALIGHT offers remarkable 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 INNOVALIGHT's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: INNOVALIGHT does not offer counseling.
- DENTAL PLAN: Team members at INNOVALIGHT have a first-class dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. INNOVALIGHT partially pays for dentures and braces as well.
- HEALTH INSURANCE: INNOVALIGHT provides an exceptional health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, INNOVALIGHT offers valuable 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: INNOVALIGHT offers an extraordinary 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, INNOVALIGHT has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: INNOVALIGHT has an excellent telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: INNOVALIGHT offers a suitable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | INNOVALIGHT | 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
INNOVALIGHT 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: INNOVALIGHT has an extraordinary 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, INNOVALIGHT offers an extraordinary 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, INNOVALIGHT offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: INNOVALIGHT does not offer adoption assistance reimbursement.
- BONUS PAY: INNOVALIGHT offers superior bonuses to team members who excel in their field of work, provide extraordinary results for INNOVALIGHT, and encourage others to do the same.
- CHILDCARE DISCOUNT: INNOVALIGHT has an exceptional childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: INNOVALIGHT 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: INNOVALIGHT 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: INNOVALIGHT 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: INNOVALIGHT offers a solid life insurance policy to its team members for an affordable price. INNOVALIGHT 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: INNOVALIGHT realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why INNOVALIGHT has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: INNOVALIGHT has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, INNOVALIGHT stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: INNOVALIGHT has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | INNOVALIGHT | 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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