This report analyzes and compares MCMASTER-CARR's employee health insurance and employee benefits with its industry and in Illinois 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
MCMASTER-CARR offers valuable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. MCMASTER-CARR believes that every employee has a valuable set of skills so it helps them plan their careers with valuable developmental resources and mentorships.
- CAREER PLANNING: MCMASTER-CARR 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. MCMASTER-CARR has valuable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: MCMASTER-CARR believes that an outstanding coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: MCMASTER-CARR encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, MCMASTER-CARR 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: MCMASTER-CARR does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: MCMASTER-CARR does not offer leadership programs.
- 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 MCMASTER-CARR offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: MCMASTER-CARR 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: MCMASTER-CARR has a valuable 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 | MCMASTER-CARR | Industry | Illinois |
|---|---|---|---|
| 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
MCMASTER-CARR 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 MCMASTER-CARR's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: MCMASTER-CARR does not offer counseling.
- DENTAL PLAN: Team members at MCMASTER-CARR 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. MCMASTER-CARR partially pays for dentures and braces as well.
- HEALTH INSURANCE: MCMASTER-CARR offers a remarkable health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: MCMASTER-CARR is aware of the fact that a healthy employee is a productive employee so it offers excellent health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: MCMASTER-CARR has a superior 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: Aware of the challenges that come with pregnancy, MCMASTER-CARR has created a first-class maternity support program to support its expecting team members.
- TELEHEALTH: MCMASTER-CARR has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. MCMASTER-CARR covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: MCMASTER-CARR has an impressive 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 | MCMASTER-CARR | Industry | Illinois |
|---|---|---|---|
| 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
MCMASTER-CARR 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: MCMASTER-CARR does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: MCMASTER-CARR does not offer adoption assistance reimbursement.
- BONUS PAY: MCMASTER-CARR has an outstanding 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: MCMASTER-CARR has an exceptional childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: MCMASTER-CARR has a good commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: MCMASTER-CARR 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: MCMASTER-CARR has an outstanding 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: MCMASTER-CARR 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: MCMASTER-CARR has an impressive 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: MCMASTER-CARR believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why MCMASTER-CARR offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: MCMASTER-CARR has a suitable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MCMASTER-CARR | Industry | Illinois |
|---|---|---|---|
| 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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