This report analyzes and compares NORTHERN TRUST'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
NORTHERN TRUST 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 NORTHERN TRUST. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: NORTHERN TRUST continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that NORTHERN TRUST uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: NORTHERN TRUST does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: impressive development resources are what allows NORTHERN TRUST to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in impressive workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: NORTHERN TRUST has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: NORTHERN TRUST is always on the lookout for new leadership material and offers solid development programs for its team members. With access to solid resources, NORTHERN TRUST ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: NORTHERN TRUST offers a superb 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: NORTHERN TRUST knows that dedicated team members are hard to come by so it has an outstanding Recognition program for those who stand out and continually contribute to NORTHERN TRUST.
- TUITION REIMBURSEMENT: NORTHERN TRUST realizes that continuous education is a key to success so it has an excellent Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | NORTHERN TRUST | 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
NORTHERN TRUST offers remarkable 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 NORTHERN TRUST's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: NORTHERN TRUST has an exceptional counseling program for its employees and their family members. Team members are encouraged by NORTHERN TRUST 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 exceptional counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: NORTHERN TRUST 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: NORTHERN TRUST provides an extraordinary 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, NORTHERN TRUST offers valuable 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: NORTHERN TRUST offers an exceptional healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, NORTHERN TRUST has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: NORTHERN TRUST has implemented a superior telehealth policy for its members to use any time of the day, every single day. NORTHERN TRUST covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: NORTHERN TRUST has an outstanding 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 | NORTHERN TRUST | 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
NORTHERN TRUST offers first-class financial benefits for employees and their family members. A first-class 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: NORTHERN TRUST does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: NORTHERN TRUST has a first-class 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 NORTHERN TRUST.
- BONUS PAY: NORTHERN TRUST has an extraordinary 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: NORTHERN TRUST has an outstanding childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: NORTHERN TRUST has a great 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: NORTHERN TRUST offers a superior 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: NORTHERN TRUST offers a remarkable 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: NORTHERN TRUST offers a solid life insurance policy to its team members for an affordable price. NORTHERN TRUST 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: NORTHERN TRUST has an extraordinary 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: NORTHERN TRUST does not offer paid volunteer time off.
- PARENTAL LEAVE: NORTHERN TRUST has a remarkable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | NORTHERN TRUST | 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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