This report analyzes and compares NEWARK ELEMENT14'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
NEWARK ELEMENT14 offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. NEWARK ELEMENT14 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: NEWARK ELEMENT14 continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that NEWARK ELEMENT14 uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: NEWARK ELEMENT14 does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: NEWARK ELEMENT14 encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, NEWARK ELEMENT14 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: NEWARK ELEMENT14 has a great GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: NEWARK ELEMENT14 offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by NEWARK ELEMENT14 to grow as leaders and learn how to make tough calls.
- ONBOARDING: NEWARK ELEMENT14 does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, NEWARK ELEMENT14 implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: NEWARK ELEMENT14 does not offer tuition reimbursement.
Benefit | NEWARK ELEMENT14 | 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
NEWARK ELEMENT14 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 NEWARK ELEMENT14's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: NEWARK ELEMENT14 is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why NEWARK ELEMENT14 implemented a good 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 good counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: NEWARK ELEMENT14 offers a good 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: NEWARK ELEMENT14 provides an exceptional health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: NEWARK ELEMENT14 offers its team members first-class 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. NEWARK ELEMENT14 provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: NEWARK ELEMENT14 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: NEWARK ELEMENT14 has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: NEWARK ELEMENT14 has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. NEWARK ELEMENT14 covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: NEWARK ELEMENT14 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 | NEWARK ELEMENT14 | 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
NEWARK ELEMENT14 offers top-notch financial benefits for employees and their family members. A top-notch 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: NEWARK ELEMENT14 has an outstanding 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, NEWARK ELEMENT14 offers an outstanding 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, NEWARK ELEMENT14 offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: NEWARK ELEMENT14 has a top-notch Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by NEWARK ELEMENT14.
- BONUS PAY: NEWARK ELEMENT14 offers superior bonuses to team members who excel in their field of work, provide extraordinary results for NEWARK ELEMENT14, and encourage others to do the same.
- CHILDCARE DISCOUNT: NEWARK ELEMENT14 does not offer childcare discount.
- COMMUTER BENEFIT: NEWARK ELEMENT14 acknowledges the fact that some team members have high commuting costs so it offers them top-notch commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: NEWARK ELEMENT14 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: NEWARK ELEMENT14 offers a superior short-term disability coverage for its team members. Through disability program, part of the employee's salary is replaced by the coverage for a limited time. This enables team members to have a financial stability during the difficult period of their lives and helps them to get back on track.
- LIFE INSURANCE: NEWARK ELEMENT14 offers an excellent 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 excellent life insurance package contains dependent policies as well.
- PAID TIME OFF: NEWARK ELEMENT14 has an excellent 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: NEWARK ELEMENT14 does not offer paid volunteer time off.
- PARENTAL LEAVE: NEWARK ELEMENT14 has a suitable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | NEWARK ELEMENT14 | 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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