This report analyzes and compares LEAR CORPORATION's employee health insurance and employee benefits with its industry and in Michigan 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
LEAR CORPORATION 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 LEAR CORPORATION. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: LEAR CORPORATION offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, LEAR CORPORATION makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: LEAR CORPORATION 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: LEAR CORPORATION offers first-class development resources to enable its employees to grow on a personal and a professional plan. With access to first-class intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: LEAR CORPORATION does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: LEAR CORPORATION is always on the lookout for new leadership material and offers suitable development programs for its team members. With access to suitable resources, LEAR CORPORATION ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: LEAR CORPORATION is aware of the difficulties that new employees might experience when they join the team. That's why LEAR CORPORATION has a solid Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: LEAR CORPORATION knows that dedicated team members are hard to come by so it has an exceptional Recognition program for those who stand out and continually contribute to LEAR CORPORATION.
- TUITION REIMBURSEMENT: LEAR CORPORATION has a good 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 | LEAR CORPORATION | Industry | Michigan |
|---|---|---|---|
| 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
LEAR CORPORATION offers superior 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 LEAR CORPORATION's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LEAR CORPORATION wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its top-notch 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: Team members at LEAR CORPORATION have a top-notch dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. LEAR CORPORATION partially pays for dentures and braces as well.
- HEALTH INSURANCE: LEAR CORPORATION provides an extraordinary 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, LEAR CORPORATION offers good 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: LEAR CORPORATION offers an outstanding 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, LEAR CORPORATION has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: LEAR CORPORATION has an exceptional 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: LEAR CORPORATION 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 | LEAR CORPORATION | Industry | Michigan |
|---|---|---|---|
| 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
LEAR CORPORATION 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: LEAR CORPORATION has an excellent 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, LEAR CORPORATION offers an excellent 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, LEAR CORPORATION offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: LEAR CORPORATION has a superior Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by LEAR CORPORATION.
- BONUS PAY: LEAR CORPORATION offers superb bonuses to team members who excel in their field of work, provide extraordinary results for LEAR CORPORATION, and encourage others to do the same.
- CHILDCARE DISCOUNT: LEAR CORPORATION has an outstanding childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: LEAR CORPORATION 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: LEAR CORPORATION has a suitable 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: LEAR CORPORATION has an extraordinary disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: LEAR CORPORATION has a superior 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: LEAR CORPORATION has an impressive 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: LEAR CORPORATION believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why LEAR CORPORATION offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: LEAR CORPORATION has a valuable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LEAR CORPORATION | Industry | Michigan |
|---|---|---|---|
| 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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