This report analyzes and compares IPSOFT's employee health insurance and employee benefits with its industry and in New York 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
IPSOFT has top-notch 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 IPSOFT. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: IPSOFT continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that IPSOFT uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: IPSOFT offers top-notch coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows IPSOFT 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: IPSOFT has a solid GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: IPSOFT believes that providing its team members with impressive leadership programs is a crucial step in creating new leaders. By using impressive tools that IPSOFT provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: IPSOFT does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, IPSOFT implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: IPSOFT realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | IPSOFT | Industry | New York |
|---|---|---|---|
| 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
IPSOFT offers first-class 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 IPSOFT's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: IPSOFT 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: IPSOFT cares about its team members' dental health so it offers an exceptional 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: IPSOFT offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, IPSOFT offers solid 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: To financially help its team members with medical emergencies, IPSOFT 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: Aware of the challenges that come with pregnancy, IPSOFT has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: IPSOFT does not offer telehealth.
- VISION PLAN: IPSOFT provides a top-notch 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 | IPSOFT | Industry | New York |
|---|---|---|---|
| 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
IPSOFT offers top-notch financial benefits for employees and their family members. A top-notch 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: IPSOFT has a top-notch 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. IPSOFT 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 top-notch IPSOFT has Matching program that matches 75% of employees' contributions. Whatever IPSOFT contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave IPSOFT. Recognizing that every team member is unique, with specific needs and goals, IPSOFT keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: IPSOFT 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: IPSOFT has an impressive 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: IPSOFT does not offer childcare discount.
- COMMUTER BENEFIT: IPSOFT has a solid 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: IPSOFT has a good 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: IPSOFT has a suitable 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 suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: IPSOFT offers an extraordinary life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: IPSOFT wants for its team members to lead a happy and fulfilled life so it has a suitable vacation policy for every employee. The number of paid vacation days depends on how long has a certain member been part of the team.
- PAID VOLUNTEER TIME OFF: IPSOFT does not offer paid volunteer time off.
- PARENTAL LEAVE: IPSOFT has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | IPSOFT | Industry | New York |
|---|---|---|---|
| 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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