This report analyzes and compares MEDTEK'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
MEDTEK 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 MEDTEK. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MEDTEK 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. MEDTEK has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a good coaching and mentoring program, MEDTEK can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: MEDTEK 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: MEDTEK has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: MEDTEK offers a wide variety of superior courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by MEDTEK to grow as leaders and learn how to make tough calls.
- 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 MEDTEK offers an extraordinary Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: MEDTEK has a superior 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: MEDTEK has a top-notch Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at MEDTEK.
Benefit | MEDTEK | 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
MEDTEK offers superb 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 MEDTEK's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: MEDTEK does not offer counseling.
- DENTAL PLAN: MEDTEK cares about its team members' dental health so it offers an excellent dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: MEDTEK offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: MEDTEK does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: MEDTEK has a superb 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: MEDTEK 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: MEDTEK has an extraordinary 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: MEDTEK provides a first-class 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 | MEDTEK | 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
MEDTEK 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: MEDTEK knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 MEDTEK 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, MEDTEK provides resources which will help team members decide what to do with their 401(k) plan. MEDTEK offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: MEDTEK has an excellent Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: MEDTEK offers superior bonuses to team members who excel in their field of work, provide extraordinary results for MEDTEK, and encourage others to do the same.
- CHILDCARE DISCOUNT: MEDTEK cooperates with partners and team members are eligible for superb discounts for a primary childcare.
- COMMUTER BENEFIT: MEDTEK 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: MEDTEK has a good 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: MEDTEK has a good 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 good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: MEDTEK offers an exceptional 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 exceptional life insurance package contains dependent policies as well.
- PAID TIME OFF: MEDTEK wants for its team members to lead a happy and fulfilled life so it has a suitable 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: MEDTEK believes that impressive volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why MEDTEK offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: MEDTEK has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MEDTEK | 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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