This report analyzes and compares LOCKHEED MARTIN's employee health insurance and employee benefits with its industry and in Maryland 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
LOCKHEED MARTIN 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 LOCKHEED MARTIN. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: LOCKHEED MARTIN offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, LOCKHEED MARTIN makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: LOCKHEED MARTIN believes that an exceptional coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: LOCKHEED MARTIN 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: LOCKHEED MARTIN has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: LOCKHEED MARTIN offers a wide variety of superior courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by LOCKHEED MARTIN to grow as leaders and learn how to make tough calls.
- ONBOARDING: LOCKHEED MARTIN is aware of the difficulties that new employees might experience when they join the team. That's why LOCKHEED MARTIN has a great Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: LOCKHEED MARTIN knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to LOCKHEED MARTIN.
- TUITION REIMBURSEMENT: LOCKHEED MARTIN realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | LOCKHEED MARTIN | Industry | Maryland |
|---|---|---|---|
| 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
LOCKHEED MARTIN offers top-notch 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 LOCKHEED MARTIN's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LOCKHEED MARTIN wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superior 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 LOCKHEED MARTIN have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. LOCKHEED MARTIN partially pays for dentures and braces as well.
- HEALTH INSURANCE: LOCKHEED MARTIN 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: LOCKHEED MARTIN does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: LOCKHEED MARTIN 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: LOCKHEED MARTIN has a suitable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: LOCKHEED MARTIN has implemented a first-class telehealth policy for its members to use any time of the day, every single day. LOCKHEED MARTIN covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: LOCKHEED MARTIN has an outstanding 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 | LOCKHEED MARTIN | Industry | Maryland |
|---|---|---|---|
| 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
LOCKHEED MARTIN 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: LOCKHEED MARTIN has an outstanding 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, LOCKHEED MARTIN offers an outstanding 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, LOCKHEED MARTIN offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: LOCKHEED MARTIN does not offer adoption assistance reimbursement.
- BONUS PAY: LOCKHEED MARTIN has a great 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: LOCKHEED MARTIN offers a good discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: LOCKHEED MARTIN acknowledges the fact that some team members have high commuting costs so it offers them top-notch commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: LOCKHEED MARTIN 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: LOCKHEED MARTIN 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: LOCKHEED MARTIN 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: LOCKHEED MARTIN has an excellent 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: LOCKHEED MARTIN does not offer paid volunteer time off.
- PARENTAL LEAVE: LOCKHEED MARTIN has an exceptional parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LOCKHEED MARTIN | Industry | Maryland |
|---|---|---|---|
| 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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