This report analyzes and compares POWELL INDUSTRIES' employee health insurance and employee benefits with its industry and in Texas 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
POWELL INDUSTRIES has superior 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 POWELL INDUSTRIES. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: POWELL INDUSTRIES continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that POWELL INDUSTRIES uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: POWELL INDUSTRIES does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: POWELL INDUSTRIES encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, POWELL INDUSTRIES supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: POWELL INDUSTRIES does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: POWELL INDUSTRIES believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that POWELL INDUSTRIES provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why POWELL INDUSTRIES offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: POWELL INDUSTRIES knows that dedicated team members are hard to come by so it has an exceptional Recognition program for those who stand out and continually contribute to POWELL INDUSTRIES.
- TUITION REIMBURSEMENT: POWELL INDUSTRIES has a solid Tuition Reimbursement Program and participates with up to 25% of the costs for team members who want a job-related certificate or a degree.
Benefit | POWELL INDUSTRIES | Industry | Texas |
|---|---|---|---|
| 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
POWELL INDUSTRIES offers top-notch 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 POWELL INDUSTRIES's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: POWELL INDUSTRIES does not offer counseling.
- DENTAL PLAN: Team members at POWELL INDUSTRIES have a first-class dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. POWELL INDUSTRIES partially pays for dentures and braces as well.
- HEALTH INSURANCE: POWELL INDUSTRIES provides an exceptional health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: POWELL INDUSTRIES 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, POWELL INDUSTRIES offers a solid 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: POWELL INDUSTRIES offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: POWELL INDUSTRIES has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. POWELL INDUSTRIES covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: POWELL INDUSTRIES 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 | POWELL INDUSTRIES | Industry | Texas |
|---|---|---|---|
| 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
POWELL INDUSTRIES 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: POWELL INDUSTRIES has a superb 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. POWELL INDUSTRIES 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 superb POWELL INDUSTRIES has Matching program that matches 75% of employees' contributions. Whatever POWELL INDUSTRIES contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave POWELL INDUSTRIES. Recognizing that every team member is unique, with specific needs and goals, POWELL INDUSTRIES keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: POWELL INDUSTRIES 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: POWELL INDUSTRIES offers superior bonuses to team members who excel in their field of work, provide extraordinary results for POWELL INDUSTRIES, and encourage others to do the same.
- CHILDCARE DISCOUNT: POWELL INDUSTRIES cooperates with partners and team members are eligible for first-class discounts for a primary childcare.
- COMMUTER BENEFIT: POWELL INDUSTRIES 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: POWELL INDUSTRIES has a good 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: POWELL INDUSTRIES has a great disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a great coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: POWELL INDUSTRIES offers a great life insurance policy to its team members for an affordable price. POWELL INDUSTRIES 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: POWELL INDUSTRIES realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why POWELL INDUSTRIES has a superb vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: POWELL INDUSTRIES believes that outstanding volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why POWELL INDUSTRIES offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: POWELL INDUSTRIES has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | POWELL INDUSTRIES | Industry | Texas |
|---|---|---|---|
| 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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