This report analyzes and compares NORDSTROM's employee health insurance and employee benefits with its industry and in Washington 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
NORDSTROM offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. NORDSTROM 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: NORDSTROM continually evaluates its team members to determine the potential and direction of employees' careers. The exceptional tools that NORDSTROM 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, NORDSTROM can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: NORDSTROM encourages its team members to work on their existing skills and gain new ones continually. By providing good development resources, NORDSTROM supports their team members on their journey to perfection. Employees have a wide range of good resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: NORDSTROM has a good GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: NORDSTROM does not offer leadership programs.
- ONBOARDING: NORDSTROM offers a first-class Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: NORDSTROM 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: NORDSTROM does not offer tuition reimbursement.
Benefit | NORDSTROM | Industry | Washington |
|---|---|---|---|
| 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
NORDSTROM has solid health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers solid 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 solid healthcare spending account at their disposal.
- COUNSELING: NORDSTROM does not offer counseling.
- DENTAL PLAN: NORDSTROM offers a suitable 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: NORDSTROM offers a superb health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, NORDSTROM offers suitable 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: To financially help its team members with medical emergencies, NORDSTROM offers a good 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: NORDSTROM 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: NORDSTROM does not offer telehealth.
- VISION PLAN: NORDSTROM has an exceptional Vision Plan for its team members who can count on coverage of a wide variety eye exams and procedures, as well as vision-related medical devices.
Benefit | NORDSTROM | Industry | Washington |
|---|---|---|---|
| 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
NORDSTROM offers superb financial benefits for employees and their family members. A superb 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: NORDSTROM 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 NORDSTROM 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, NORDSTROM provides resources which will help team members decide what to do with their 401(k) plan. NORDSTROM offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: NORDSTROM has an extraordinary 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: NORDSTROM has an outstanding bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.
- CHILDCARE DISCOUNT: NORDSTROM has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: NORDSTROM 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: NORDSTROM offers a remarkable 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: NORDSTROM has an impressive 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: NORDSTROM 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: NORDSTROM realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why NORDSTROM has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: NORDSTROM does not offer paid volunteer time off.
- PARENTAL LEAVE: NORDSTROM has an excellent parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | NORDSTROM | Industry | Washington |
|---|---|---|---|
| 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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