This report analyzes and compares IPG PHOTONICS' employee health insurance and employee benefits with its industry and in Massachusetts 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
IPG PHOTONICS has first-class 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 IPG PHOTONICS. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: IPG PHOTONICS continually evaluates its team members to determine the potential and direction of employees' careers. The impressive tools that IPG PHOTONICS uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: IPG PHOTONICS offers remarkable coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: IPG PHOTONICS offers remarkable development resources to enable its employees to grow on a personal and a professional plan. With access to remarkable intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: IPG PHOTONICS does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: IPG PHOTONICS does not offer leadership programs.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why IPG PHOTONICS offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: IPG PHOTONICS has a superior 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: IPG PHOTONICS has a superior Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at IPG PHOTONICS.
Benefit | IPG PHOTONICS | Industry | Massachusetts |
|---|---|---|---|
| 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
IPG PHOTONICS 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 IPG PHOTONICS's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: IPG PHOTONICS does not offer counseling.
- DENTAL PLAN: IPG PHOTONICS 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: IPG PHOTONICS offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: IPG PHOTONICS does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: IPG PHOTONICS 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: IPG PHOTONICS offers an exceptional maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: IPG PHOTONICS 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: IPG PHOTONICS has an exceptional Vision Plan for its team members who can count on coverage of a wide variety eye exams and procedures, as well as vision-related medical devices.
Benefit | IPG PHOTONICS | Industry | Massachusetts |
|---|---|---|---|
| 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
IPG PHOTONICS 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: IPG PHOTONICS does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: IPG PHOTONICS has a valuable Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: IPG PHOTONICS has an outstanding 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: IPG PHOTONICS cooperates with partners and team members are eligible for superior discounts for a primary childcare.
- COMMUTER BENEFIT: IPG PHOTONICS 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: IPG PHOTONICS offers an impressive 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: IPG PHOTONICS has a valuable disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a valuable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: IPG PHOTONICS offers a good life insurance policy to its team members for an affordable price. IPG PHOTONICS 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: IPG PHOTONICS realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why IPG PHOTONICS has a first-class vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: IPG PHOTONICS has a top-notch volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, IPG PHOTONICS stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: IPG PHOTONICS has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | IPG PHOTONICS | Industry | Massachusetts |
|---|---|---|---|
| 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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