This report analyzes and compares MERCK & CO's employee health insurance and employee benefits with its industry and in New Jersey 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
MERCK & CO has superior 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 MERCK & CO. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MERCK & CO offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, MERCK & CO makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: MERCK & CO 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: exceptional development resources are what allows MERCK & CO to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in exceptional workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: MERCK & CO does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: MERCK & CO is always on the lookout for new leadership material and offers suitable development programs for its team members. With access to suitable resources, MERCK & CO ensures that team members with a potential for becoming leaders can achieve their goals.
- 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 MERCK & CO offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: MERCK & CO knows that dedicated team members are hard to come by so it has an extraordinary Recognition program for those who stand out and continually contribute to MERCK & CO.
- TUITION REIMBURSEMENT: MERCK & CO does not offer tuition reimbursement.
Benefit | MERCK & CO | Industry | New Jersey |
|---|---|---|---|
| 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
MERCK & CO offers first-class 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 MERCK & CO's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: MERCK & CO is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why MERCK & CO 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: MERCK & CO offers a solid 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: MERCK & CO 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: In an effort to improve the wellbeing and quality of life of its team members, MERCK & CO offers good health plan incentives for its employees. Employees have at their disposal various resources through which they can learn about their health and how to improve it.
- HEALTHCARE SPENDING ACCOUNTS: MERCK & CO has a remarkable 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: MERCK & CO offers an outstanding maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: MERCK & CO has implemented a top-notch telehealth policy for its members to use any time of the day, every single day. MERCK & CO covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: MERCK & CO provides a superb 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 | MERCK & CO | Industry | New Jersey |
|---|---|---|---|
| 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
MERCK & CO 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: MERCK & CO does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: MERCK & CO does not offer adoption assistance reimbursement.
- BONUS PAY: MERCK & CO has a good 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: MERCK & CO has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: MERCK & CO acknowledges the fact that some team members have high commuting costs so it offers them first-class commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: MERCK & CO offers an extraordinary 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: MERCK & CO 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: MERCK & CO offers an extraordinary 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 extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: MERCK & CO has an exceptional 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: MERCK & CO believes that outstanding volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why MERCK & CO offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: MERCK & CO has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MERCK & CO | Industry | New Jersey |
|---|---|---|---|
| 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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