This report analyzes and compares NOVARTIS INSTITUTES' employee health insurance and employee benefits with its industry and in Massachusetts 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
NOVARTIS INSTITUTES has superb 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 NOVARTIS INSTITUTES. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: NOVARTIS INSTITUTES continually evaluates its team members to determine the potential and direction of employees' careers. The impressive tools that NOVARTIS INSTITUTES uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: NOVARTIS INSTITUTES offers first-class coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: NOVARTIS INSTITUTES 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: NOVARTIS INSTITUTES has an exceptional GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: NOVARTIS INSTITUTES does not offer leadership programs.
- ONBOARDING: NOVARTIS INSTITUTES does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, NOVARTIS INSTITUTES implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: NOVARTIS INSTITUTES realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | NOVARTIS INSTITUTES | Industry | Massachusetts |
|---|---|---|---|
| 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
NOVARTIS INSTITUTES offers first-class 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 NOVARTIS INSTITUTES's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: NOVARTIS INSTITUTES does not offer counseling.
- DENTAL PLAN: NOVARTIS INSTITUTES 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: NOVARTIS INSTITUTES 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: In an effort to improve the wellbeing and quality of life of its team members, NOVARTIS INSTITUTES offers solid 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: NOVARTIS INSTITUTES has a superb 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: Aware of the challenges that come with pregnancy, NOVARTIS INSTITUTES has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: NOVARTIS INSTITUTES has a valuable 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. NOVARTIS INSTITUTES can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: NOVARTIS INSTITUTES provides a first-class Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
Benefit | NOVARTIS INSTITUTES | Industry | Massachusetts |
|---|---|---|---|
| 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
NOVARTIS INSTITUTES offers remarkable financial benefits for employees and their family members. A remarkable 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: NOVARTIS INSTITUTES does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: NOVARTIS INSTITUTES has an excellent 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: NOVARTIS INSTITUTES has an excellent 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: NOVARTIS INSTITUTES does not offer childcare discount.
- COMMUTER BENEFIT: NOVARTIS INSTITUTES has a valuable 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: NOVARTIS INSTITUTES 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: NOVARTIS INSTITUTES 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: NOVARTIS INSTITUTES offers an impressive 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 impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: NOVARTIS INSTITUTES wants for its team members to lead a happy and fulfilled life so it has a solid 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: NOVARTIS INSTITUTES recognizes the importance of giving back to the community so it offers a solid volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by NOVARTIS INSTITUTES, on volunteer work of their choice.
- PARENTAL LEAVE: NOVARTIS INSTITUTES has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | NOVARTIS INSTITUTES | Industry | Massachusetts |
|---|---|---|---|
| 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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