This report analyzes and compares LINCOLN ELECTRIC HOLDINGS' employee health insurance and employee benefits with its industry and in Ohio 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
LINCOLN ELECTRIC HOLDINGS offers good career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. LINCOLN ELECTRIC HOLDINGS believes that every employee has a valuable set of skills so it helps them plan their careers with good developmental resources and mentorships.
- CAREER PLANNING: LINCOLN ELECTRIC HOLDINGS believes that career planning of each employee is a key to a successful business and offers valuable opportunities so that the employees can reach their full potential. LINCOLN ELECTRIC HOLDINGS has valuable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a valuable coaching and mentoring program, LINCOLN ELECTRIC HOLDINGS can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: LINCOLN ELECTRIC HOLDINGS encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, LINCOLN ELECTRIC HOLDINGS supports their team members on their journey to perfection. Employees have a wide range of solid resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: LINCOLN ELECTRIC HOLDINGS does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: LINCOLN ELECTRIC HOLDINGS believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that LINCOLN ELECTRIC HOLDINGS provides for them, employees are able to learn what makes or breaks a leader.
- 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 LINCOLN ELECTRIC HOLDINGS offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: LINCOLN ELECTRIC HOLDINGS has a top-notch 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: LINCOLN ELECTRIC HOLDINGS does not offer tuition reimbursement.
Benefit | LINCOLN ELECTRIC HOLDINGS | Industry | Ohio |
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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
LINCOLN ELECTRIC HOLDINGS offers remarkable 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 LINCOLN ELECTRIC HOLDINGS's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LINCOLN ELECTRIC HOLDINGS wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb 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: LINCOLN ELECTRIC HOLDINGS 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: LINCOLN ELECTRIC HOLDINGS offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: LINCOLN ELECTRIC HOLDINGS does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, LINCOLN ELECTRIC HOLDINGS offers a valuable 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, LINCOLN ELECTRIC HOLDINGS has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: LINCOLN ELECTRIC HOLDINGS 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: LINCOLN ELECTRIC HOLDINGS has an extraordinary 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 | LINCOLN ELECTRIC HOLDINGS | Industry | Ohio |
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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
Team members enjoy good financial benefits at LINCOLN ELECTRIC HOLDINGS. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. LINCOLN ELECTRIC HOLDINGS offers good life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect LINCOLN ELECTRIC HOLDINGS to partially cover the expenses.
- 401(K) PLAN: LINCOLN ELECTRIC HOLDINGS does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: LINCOLN ELECTRIC HOLDINGS does not offer adoption assistance reimbursement.
- BONUS PAY: LINCOLN ELECTRIC HOLDINGS has a valuable 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: LINCOLN ELECTRIC HOLDINGS does not offer childcare discount.
- COMMUTER BENEFIT: LINCOLN ELECTRIC HOLDINGS offers outstanding 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: LINCOLN ELECTRIC HOLDINGS offers an outstanding 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: LINCOLN ELECTRIC HOLDINGS 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: LINCOLN ELECTRIC HOLDINGS 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: LINCOLN ELECTRIC HOLDINGS wants for its team members to lead a happy and fulfilled life so it has a valuable 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: LINCOLN ELECTRIC HOLDINGS does not offer paid volunteer time off.
- PARENTAL LEAVE: LINCOLN ELECTRIC HOLDINGS has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LINCOLN ELECTRIC HOLDINGS | Industry | Ohio |
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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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