This report analyzes and compares LUMBER LIQUIDATORS' employee health insurance and employee benefits with its industry and in Virginia 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
LUMBER LIQUIDATORS offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. LUMBER LIQUIDATORS believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: LUMBER LIQUIDATORS believes that career planning of each employee is a key to a successful business and offers good opportunities so that the employees can reach their full potential. LUMBER LIQUIDATORS has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: LUMBER LIQUIDATORS 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: LUMBER LIQUIDATORS encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, LUMBER LIQUIDATORS supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: LUMBER LIQUIDATORS has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: LUMBER LIQUIDATORS does not offer leadership programs.
- ONBOARDING: LUMBER LIQUIDATORS does not offer onboarding.
- RECOGNITION PROGRAMS: LUMBER LIQUIDATORS 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 LUMBER LIQUIDATORS.
- TUITION REIMBURSEMENT: LUMBER LIQUIDATORS 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 | LUMBER LIQUIDATORS | Industry | Virginia |
|---|---|---|---|
| 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
LUMBER LIQUIDATORS 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 LUMBER LIQUIDATORS's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LUMBER LIQUIDATORS is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why LUMBER LIQUIDATORS implemented a great counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This great counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at LUMBER LIQUIDATORS have a superior dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. LUMBER LIQUIDATORS partially pays for dentures and braces as well.
- HEALTH INSURANCE: LUMBER LIQUIDATORS 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: LUMBER LIQUIDATORS offers its team members top-notch 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. LUMBER LIQUIDATORS provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, LUMBER LIQUIDATORS 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: LUMBER LIQUIDATORS has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: LUMBER LIQUIDATORS has a valuable telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. LUMBER LIQUIDATORS can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: LUMBER LIQUIDATORS provides a top-notch 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 | LUMBER LIQUIDATORS | Industry | Virginia |
|---|---|---|---|
| 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
LUMBER LIQUIDATORS offers remarkable financial benefits for employees and their family members. A remarkable 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: LUMBER LIQUIDATORS does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: LUMBER LIQUIDATORS has a suitable 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: LUMBER LIQUIDATORS has an extraordinary bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.
- CHILDCARE DISCOUNT: LUMBER LIQUIDATORS cooperates with partners and team members are eligible for superior discounts for a primary childcare.
- COMMUTER BENEFIT: LUMBER LIQUIDATORS 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: LUMBER LIQUIDATORS has a great 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: LUMBER LIQUIDATORS offers a remarkable short-term disability coverage for its team members. Through disability program, part of the employee's salary is replaced by the coverage for a limited time. This enables team members to have a financial stability during the difficult period of their lives and helps them to get back on track.
- LIFE INSURANCE: LUMBER LIQUIDATORS offers a suitable life insurance policy to its team members for an affordable price. LUMBER LIQUIDATORS participates with 50% of the costs of the policy which makes it enticing for employees to buy it. Beneficiaries of team members can expect to get up to 1 year worth of employee's salary.
- PAID TIME OFF: LUMBER LIQUIDATORS wants for its team members to lead a happy and fulfilled life so it has a good 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: LUMBER LIQUIDATORS 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, LUMBER LIQUIDATORS stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: LUMBER LIQUIDATORS has an extraordinary parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LUMBER LIQUIDATORS | Industry | Virginia |
|---|---|---|---|
| 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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