This report analyzes and compares MICROCHIP TECHNOLOGY's employee health insurance and employee benefits with its industry and in Arizona 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
MICROCHIP TECHNOLOGY offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. MICROCHIP TECHNOLOGY 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: MICROCHIP TECHNOLOGY offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, MICROCHIP TECHNOLOGY makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: MICROCHIP TECHNOLOGY does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: MICROCHIP TECHNOLOGY encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, MICROCHIP TECHNOLOGY supports their team members on their journey to perfection. Employees have a wide range of valuable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: MICROCHIP TECHNOLOGY has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: MICROCHIP TECHNOLOGY believes that providing its team members with outstanding leadership programs is a crucial step in creating new leaders. By using outstanding tools that MICROCHIP TECHNOLOGY provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: MICROCHIP TECHNOLOGY is aware of the difficulties that new employees might experience when they join the team. That's why MICROCHIP TECHNOLOGY has a good Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, MICROCHIP TECHNOLOGY implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: MICROCHIP TECHNOLOGY does not offer tuition reimbursement.
Benefit | MICROCHIP TECHNOLOGY | Industry | Arizona |
|---|---|---|---|
| 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
MICROCHIP TECHNOLOGY has great health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers great 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 great healthcare spending account at their disposal.
- COUNSELING: MICROCHIP TECHNOLOGY does not offer counseling.
- DENTAL PLAN: Team members at MICROCHIP TECHNOLOGY have a first-class dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. MICROCHIP TECHNOLOGY partially pays for dentures and braces as well.
- HEALTH INSURANCE: MICROCHIP TECHNOLOGY offers a valuable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: MICROCHIP TECHNOLOGY 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. MICROCHIP TECHNOLOGY provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, MICROCHIP TECHNOLOGY 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: Aware of the challenges that come with pregnancy, MICROCHIP TECHNOLOGY has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: MICROCHIP TECHNOLOGY 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. MICROCHIP TECHNOLOGY can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: MICROCHIP TECHNOLOGY offers a suitable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | MICROCHIP TECHNOLOGY | Industry | Arizona |
|---|---|---|---|
| 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
Team members enjoy great financial benefits at MICROCHIP TECHNOLOGY. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. MICROCHIP TECHNOLOGY offers great life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect MICROCHIP TECHNOLOGY to partially cover the expenses.
- 401(K) PLAN: MICROCHIP TECHNOLOGY does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: MICROCHIP TECHNOLOGY has a solid 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: MICROCHIP TECHNOLOGY 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: MICROCHIP TECHNOLOGY has an outstanding childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: MICROCHIP TECHNOLOGY acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: MICROCHIP TECHNOLOGY offers a superb 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: MICROCHIP TECHNOLOGY 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: MICROCHIP TECHNOLOGY offers a valuable life insurance policy to its team members for an affordable price. MICROCHIP TECHNOLOGY 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: MICROCHIP TECHNOLOGY realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why MICROCHIP TECHNOLOGY has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: MICROCHIP TECHNOLOGY recognizes the importance of giving back to the community so it offers a valuable volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by MICROCHIP TECHNOLOGY, on volunteer work of their choice.
- PARENTAL LEAVE: MICROCHIP TECHNOLOGY has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MICROCHIP TECHNOLOGY | Industry | Arizona |
|---|---|---|---|
| 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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