This report analyzes and compares LOCHBRIDGE'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
LOCHBRIDGE has superior 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 LOCHBRIDGE. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: LOCHBRIDGE offers remarkable possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, LOCHBRIDGE makes sure that every single team member takes the full advantage of remarkable career planning programs.
- COACHING AND MENTORING: By using a great coaching and mentoring program, LOCHBRIDGE can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: LOCHBRIDGE encourages its team members to work on their existing skills and gain new ones continually. By providing good development resources, LOCHBRIDGE supports their team members on their journey to perfection. Employees have a wide range of good resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: LOCHBRIDGE has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: LOCHBRIDGE is always on the lookout for new leadership material and offers suitable development programs for its team members. With access to suitable resources, LOCHBRIDGE ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: LOCHBRIDGE is aware of the difficulties that new employees might experience when they join the team. That's why LOCHBRIDGE has a good 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, LOCHBRIDGE implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: LOCHBRIDGE realizes that continuous education is a key to success so it has an outstanding Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | LOCHBRIDGE | 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
LOCHBRIDGE 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 LOCHBRIDGE's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LOCHBRIDGE has an excellent counseling program for its employees and their family members. Team members are encouraged by LOCHBRIDGE to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This excellent counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at LOCHBRIDGE 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. LOCHBRIDGE partially pays for dentures and braces as well.
- HEALTH INSURANCE: LOCHBRIDGE offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: LOCHBRIDGE does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: LOCHBRIDGE offers an exceptional 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, LOCHBRIDGE has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: LOCHBRIDGE 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: LOCHBRIDGE has an exceptional 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 | LOCHBRIDGE | 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
LOCHBRIDGE 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: LOCHBRIDGE 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. LOCHBRIDGE 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 LOCHBRIDGE has Matching program that matches 75% of employees' contributions. Whatever LOCHBRIDGE contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave LOCHBRIDGE. Recognizing that every team member is unique, with specific needs and goals, LOCHBRIDGE keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: LOCHBRIDGE has a valuable 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: LOCHBRIDGE 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: LOCHBRIDGE has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: LOCHBRIDGE offers impressive 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: LOCHBRIDGE offers a superior daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
- DISABILITY: LOCHBRIDGE has an excellent 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: LOCHBRIDGE 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: LOCHBRIDGE wants for its team members to lead a happy and fulfilled life so it has a great 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: LOCHBRIDGE has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, LOCHBRIDGE stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: LOCHBRIDGE has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LOCHBRIDGE | 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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