This report analyzes and compares Q1 LABS' 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
Q1 LABS offers solid career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. Q1 LABS believes that every employee has a valuable set of skills so it helps them plan their careers with solid developmental resources and mentorships.
- CAREER PLANNING: Q1 LABS offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, Q1 LABS makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, Q1 LABS can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: Q1 LABS encourages its team members to work on their existing skills and gain new ones continually. By providing good development resources, Q1 LABS supports their team members on their journey to perfection. Employees have a wide range of good resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: Q1 LABS has a top-notch policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: Q1 LABS offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by Q1 LABS to grow as leaders and learn how to make tough calls.
- ONBOARDING: Q1 LABS does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, Q1 LABS implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: Q1 LABS 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 | Q1 LABS | 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
Q1 LABS 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 Q1 LABS's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: Q1 LABS has an exceptional counseling program for its employees and their family members. Team members are encouraged by Q1 LABS 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: Q1 LABS cares about its team members' dental health so it offers an extraordinary 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: Q1 LABS 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: Q1 LABS does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: Q1 LABS offers an extraordinary 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, Q1 LABS has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: Q1 LABS has an extraordinary telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: Q1 LABS offers a valuable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | Q1 LABS | 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
Team members enjoy great financial benefits at Q1 LABS. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. Q1 LABS offers great life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect Q1 LABS to partially cover the expenses.
- 401(K) PLAN: Q1 LABS 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. Q1 LABS 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 Q1 LABS has Matching program that matches 75% of employees' contributions. Whatever Q1 LABS contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave Q1 LABS. Recognizing that every team member is unique, with specific needs and goals, Q1 LABS keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: Q1 LABS does not offer adoption assistance reimbursement.
- BONUS PAY: Q1 LABS offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for Q1 LABS, and encourage others to do the same.
- CHILDCARE DISCOUNT: Q1 LABS offers a valuable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: Q1 LABS acknowledges the fact that some team members have high commuting costs so it offers them remarkable commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: Q1 LABS 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: Q1 LABS has a solid 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 solid coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: Q1 LABS has a superb life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: Q1 LABS realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why Q1 LABS has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: Q1 LABS does not offer paid volunteer time off.
- PARENTAL LEAVE: Q1 LABS has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | Q1 LABS | 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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