This report analyzes and compares KOCH INDUSTRIES' employee health insurance and employee benefits with its industry and in Kansas 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
KOCH INDUSTRIES offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. KOCH INDUSTRIES believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: KOCH INDUSTRIES offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, KOCH INDUSTRIES makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: KOCH INDUSTRIES does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: KOCH INDUSTRIES offers top-notch development resources to enable its employees to grow on a personal and a professional plan. With access to top-notch intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: KOCH INDUSTRIES has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: KOCH INDUSTRIES offers a wide variety of top-notch courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by KOCH INDUSTRIES to grow as leaders and learn how to make tough calls.
- ONBOARDING: KOCH INDUSTRIES is aware of the difficulties that new employees might experience when they join the team. That's why KOCH INDUSTRIES has a valuable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, KOCH INDUSTRIES implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: KOCH INDUSTRIES does not offer tuition reimbursement.
Benefit | KOCH INDUSTRIES | Industry | Kansas |
|---|---|---|---|
| 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
KOCH INDUSTRIES 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: KOCH INDUSTRIES is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why KOCH INDUSTRIES implemented a valuable 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 valuable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: KOCH INDUSTRIES cares about its team members' dental health so it offers an extraordinary 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: KOCH INDUSTRIES offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: KOCH INDUSTRIES does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, KOCH INDUSTRIES offers a solid 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: KOCH INDUSTRIES has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: KOCH INDUSTRIES has implemented a first-class telehealth policy for its members to use any time of the day, every single day. KOCH INDUSTRIES covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: KOCH INDUSTRIES offers a great Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | KOCH INDUSTRIES | Industry | Kansas |
|---|---|---|---|
| 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
KOCH INDUSTRIES offers first-class financial benefits for employees and their family members. A first-class 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: KOCH INDUSTRIES has a first-class 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. KOCH INDUSTRIES 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 first-class KOCH INDUSTRIES has Matching program that matches 75% of employees' contributions. Whatever KOCH INDUSTRIES contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave KOCH INDUSTRIES. Recognizing that every team member is unique, with specific needs and goals, KOCH INDUSTRIES keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: KOCH INDUSTRIES does not offer adoption assistance reimbursement.
- BONUS PAY: KOCH INDUSTRIES 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: KOCH INDUSTRIES cooperates with partners and team members are eligible for remarkable discounts for a primary childcare.
- COMMUTER BENEFIT: KOCH INDUSTRIES offers excellent commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: KOCH INDUSTRIES offers an excellent 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: KOCH INDUSTRIES has a good 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 good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: KOCH INDUSTRIES offers a valuable life insurance policy to its team members for an affordable price. KOCH INDUSTRIES 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: KOCH INDUSTRIES 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: KOCH INDUSTRIES believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why KOCH INDUSTRIES offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: KOCH INDUSTRIES has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | KOCH INDUSTRIES | Industry | Kansas |
|---|---|---|---|
| 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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