This report analyzes and compares LCRA's employee health insurance and employee benefits with its industry and in Texas 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
LCRA 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 LCRA. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: LCRA continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that LCRA uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: LCRA offers first-class coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: LCRA offers superb development resources to enable its employees to grow on a personal and a professional plan. With access to superb intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: LCRA has an excellent GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: LCRA believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that LCRA provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: LCRA does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, LCRA implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: LCRA has a valuable 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 | LCRA | Industry | Texas |
|---|---|---|---|
| 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
LCRA 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 LCRA's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LCRA wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its first-class 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: LCRA offers a suitable 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: LCRA provides an excellent health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: LCRA offers its team members superb 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. LCRA provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: LCRA has a top-notch 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: LCRA offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: LCRA has an outstanding 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: LCRA provides a superior 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 | LCRA | Industry | Texas |
|---|---|---|---|
| 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
LCRA 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: LCRA knows how important it is to think about retirement and start saving on time. That's why it offers a valuable 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and LCRA will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, LCRA provides resources which will help team members decide what to do with their 401(k) plan. LCRA offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: LCRA has a solid 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: LCRA has a suitable bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
- CHILDCARE DISCOUNT: LCRA offers a great discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: LCRA offers extraordinary 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: LCRA offers an exceptional 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: LCRA has a solid 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 solid coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: LCRA 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: LCRA realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why LCRA has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: LCRA has a first-class volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, LCRA stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: LCRA has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LCRA | Industry | Texas |
|---|---|---|---|
| 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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