This report analyzes and compares MPHASIS' employee health insurance and employee benefits with its industry and in New York 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
MPHASIS has remarkable 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 MPHASIS. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MPHASIS continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that MPHASIS uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, MPHASIS can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: MPHASIS 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: MPHASIS has a solid GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: MPHASIS offers a wide variety of superior courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by MPHASIS to grow as leaders and learn how to make tough calls.
- ONBOARDING: MPHASIS does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, MPHASIS implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: MPHASIS 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 MPHASIS.
Benefit | MPHASIS | Industry | New York |
|---|---|---|---|
| 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
MPHASIS 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 MPHASIS's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: MPHASIS has an outstanding counseling program for its employees and their family members. Team members are encouraged by MPHASIS to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This outstanding counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: MPHASIS offers a great 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: MPHASIS provides an impressive health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: MPHASIS 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. MPHASIS provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, MPHASIS offers a solid 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: MPHASIS offers an impressive maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: MPHASIS does not offer telehealth.
- VISION PLAN: MPHASIS offers a good Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | MPHASIS | Industry | New York |
|---|---|---|---|
| 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 solid financial benefits at MPHASIS. 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. MPHASIS offers solid life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect MPHASIS to partially cover the expenses.
- 401(K) PLAN: MPHASIS has an impressive 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, MPHASIS offers an impressive program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, MPHASIS offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: MPHASIS has a valuable 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: MPHASIS has a suitable 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: MPHASIS does not offer childcare discount.
- COMMUTER BENEFIT: MPHASIS 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: MPHASIS has a solid 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: MPHASIS has an extraordinary 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: MPHASIS offers a suitable life insurance policy to its team members for an affordable price. MPHASIS 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: MPHASIS wants for its team members to lead a happy and fulfilled life so it has a valuable 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: MPHASIS recognizes the importance of giving back to the community so it offers a suitable volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by MPHASIS, on volunteer work of their choice.
- PARENTAL LEAVE: MPHASIS has a remarkable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MPHASIS | Industry | New York |
|---|---|---|---|
| 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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