This report analyzes and compares PACCAR'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
PACCAR has first-class 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 PACCAR. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: PACCAR continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that PACCAR uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: PACCAR believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: PACCAR offers superb development resources to enable its employees to grow on a personal and a professional plan. With access to superb intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: PACCAR has an extraordinary GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: PACCAR is always on the lookout for new leadership material and offers good development programs for its team members. With access to good resources, PACCAR ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: PACCAR is aware of the difficulties that new employees might experience when they join the team. That's why PACCAR has a great Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: PACCAR has a first-class 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: PACCAR does not offer tuition reimbursement.
Benefit | PACCAR | 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
PACCAR 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 PACCAR's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: PACCAR has an exceptional counseling program for its employees and their family members. Team members are encouraged by PACCAR 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: PACCAR cares about its team members' dental health so it offers an impressive dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: PACCAR offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, PACCAR offers great 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: PACCAR has a first-class 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: PACCAR offers an impressive maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: PACCAR has a great 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. PACCAR can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: PACCAR has an excellent 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 | PACCAR | 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
PACCAR 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: PACCAR has a top-notch 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. PACCAR provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a top-notch PACCAR has Matching program that matches 75% of employees' contributions. Whatever PACCAR contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave PACCAR. Recognizing that every team member is unique, with specific needs and goals, PACCAR keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: PACCAR has an outstanding 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: PACCAR 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: PACCAR cooperates with partners and team members are eligible for superior discounts for a primary childcare.
- COMMUTER BENEFIT: PACCAR acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: PACCAR has a suitable 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: PACCAR offers a first-class 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: PACCAR offers an extraordinary 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 extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: PACCAR wants for its team members to lead a happy and fulfilled life so it has a great 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: PACCAR has a top-notch volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, PACCAR stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: PACCAR has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | PACCAR | 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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