This report analyzes and compares PARAMETRIC TECHNOLOGY (PTC)'s 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
PARAMETRIC TECHNOLOGY (PTC) 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 PARAMETRIC TECHNOLOGY (PTC). superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: PARAMETRIC TECHNOLOGY (PTC) continually evaluates its team members to determine the potential and direction of employees' careers. The impressive tools that PARAMETRIC TECHNOLOGY (PTC) uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: PARAMETRIC TECHNOLOGY (PTC) does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: PARAMETRIC TECHNOLOGY (PTC) encourages its team members to work on their existing skills and gain new ones continually. By providing great development resources, PARAMETRIC TECHNOLOGY (PTC) supports their team members on their journey to perfection. Employees have a wide range of great resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: PARAMETRIC TECHNOLOGY (PTC) has a good GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: PARAMETRIC TECHNOLOGY (PTC) does not offer leadership programs.
- ONBOARDING: PARAMETRIC TECHNOLOGY (PTC) offers a superior 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: PARAMETRIC TECHNOLOGY (PTC) knows that dedicated team members are hard to come by so it has an excellent Recognition program for those who stand out and continually contribute to PARAMETRIC TECHNOLOGY (PTC).
- TUITION REIMBURSEMENT: PARAMETRIC TECHNOLOGY (PTC) realizes that continuous education is a key to success so it has an exceptional Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | PARAMETRIC TECHNOLOGY (PTC) | 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
PARAMETRIC TECHNOLOGY (PTC) 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 PARAMETRIC TECHNOLOGY (PTC)'s remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: PARAMETRIC TECHNOLOGY (PTC) has an extraordinary counseling program for its employees and their family members. Team members are encouraged by PARAMETRIC TECHNOLOGY (PTC) 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 extraordinary counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: PARAMETRIC TECHNOLOGY (PTC) offers a solid 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: PARAMETRIC TECHNOLOGY (PTC) offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: PARAMETRIC TECHNOLOGY (PTC) is aware of the fact that a healthy employee is a productive employee so it offers excellent health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, PARAMETRIC TECHNOLOGY (PTC) offers a great 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: Aware of the challenges that come with pregnancy, PARAMETRIC TECHNOLOGY (PTC) has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: PARAMETRIC TECHNOLOGY (PTC) has implemented a top-notch telehealth policy for its members to use any time of the day, every single day. PARAMETRIC TECHNOLOGY (PTC) covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: PARAMETRIC TECHNOLOGY (PTC) offers a great Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | PARAMETRIC TECHNOLOGY (PTC) | 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
PARAMETRIC TECHNOLOGY (PTC) 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: PARAMETRIC TECHNOLOGY (PTC) does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: PARAMETRIC TECHNOLOGY (PTC) has an impressive 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: PARAMETRIC TECHNOLOGY (PTC) has a solid bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
- CHILDCARE DISCOUNT: PARAMETRIC TECHNOLOGY (PTC) cooperates with partners and team members are eligible for remarkable discounts for a primary childcare.
- COMMUTER BENEFIT: PARAMETRIC TECHNOLOGY (PTC) acknowledges the fact that some team members have high commuting costs so it offers them superb commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: PARAMETRIC TECHNOLOGY (PTC) has a solid 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: PARAMETRIC TECHNOLOGY (PTC) has an exceptional 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: PARAMETRIC TECHNOLOGY (PTC) 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: PARAMETRIC TECHNOLOGY (PTC) 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: PARAMETRIC TECHNOLOGY (PTC) believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why PARAMETRIC TECHNOLOGY (PTC) offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: PARAMETRIC TECHNOLOGY (PTC) has an exceptional parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | PARAMETRIC TECHNOLOGY (PTC) | 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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