This report analyzes and compares MACERICH's employee health insurance and employee benefits with its industry and in California 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
MACERICH offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. MACERICH 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: MACERICH believes that career planning of each employee is a key to a successful business and offers solid opportunities so that the employees can reach their full potential. MACERICH has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: MACERICH believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: MACERICH offers remarkable development resources to enable its employees to grow on a personal and a professional plan. With access to remarkable intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: MACERICH has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: MACERICH does not offer leadership programs.
- ONBOARDING: MACERICH does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, MACERICH implemented a valuable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: MACERICH has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at MACERICH.
Benefit | MACERICH | Industry | California |
|---|---|---|---|
| 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
MACERICH has good health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers good dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a good healthcare spending account at their disposal.
- COUNSELING: MACERICH is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why MACERICH implemented a solid 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 solid counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: MACERICH offers a suitable dental plan for its team members to take care of their basic dental needs. The plan covers preventive dental exams in full. Team members have an option to pay for a more inclusive dental plan with better coverage.
- HEALTH INSURANCE: MACERICH offers a remarkable health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: MACERICH offers its team members superior 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. MACERICH provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: MACERICH 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: MACERICH has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: MACERICH has a great 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. MACERICH can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: MACERICH offers a great Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | MACERICH | Industry | California |
|---|---|---|---|
| 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
MACERICH offers superb financial benefits for employees and their family members. A superb 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: MACERICH knows how important it is to think about retirement and start saving on time. That's why it offers a valuable 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and MACERICH will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, MACERICH provides resources which will help team members decide what to do with their 401(k) plan. MACERICH offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: MACERICH does not offer adoption assistance reimbursement.
- BONUS PAY: MACERICH offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for MACERICH, and encourage others to do the same.
- CHILDCARE DISCOUNT: MACERICH has an outstanding childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: MACERICH offers excellent 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: MACERICH offers an exceptional 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: MACERICH 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: MACERICH offers an excellent life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This excellent life insurance package contains dependent policies as well.
- PAID TIME OFF: MACERICH has an extraordinary 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: MACERICH does not offer paid volunteer time off.
- PARENTAL LEAVE: MACERICH has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MACERICH | Industry | California |
|---|---|---|---|
| 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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