This report analyzes and compares RED HAT's employee health insurance and employee benefits with its industry and in North Carolina 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
RED HAT offers suitable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. RED HAT believes that every employee has a valuable set of skills so it helps them plan their careers with suitable developmental resources and mentorships.
- CAREER PLANNING: RED HAT offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, RED HAT makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: RED HAT does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: RED HAT encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, RED HAT supports their team members on their journey to perfection. Employees have a wide range of solid resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: RED HAT has a good GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: RED HAT does not offer leadership programs.
- ONBOARDING: RED HAT is aware of the difficulties that new employees might experience when they join the team. That's why RED HAT has a good Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, RED HAT implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: RED HAT has a good 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 | RED HAT | Industry | North Carolina |
|---|---|---|---|
| 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
RED HAT 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 RED HAT's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: RED HAT wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superior counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: Team members at RED HAT have a remarkable dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. RED HAT partially pays for dentures and braces as well.
- HEALTH INSURANCE: RED HAT provides an outstanding 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, RED HAT offers valuable 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: To financially help its team members with medical emergencies, RED HAT 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: RED HAT has a suitable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: RED HAT has a good 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. RED HAT can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: RED HAT 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 | RED HAT | Industry | North Carolina |
|---|---|---|---|
| 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
RED HAT offers superb financial benefits for employees and their family members. A superb 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: RED HAT has an outstanding 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, RED HAT offers an outstanding program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, RED HAT offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: RED HAT does not offer adoption assistance reimbursement.
- BONUS PAY: RED HAT has an outstanding 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: RED HAT cooperates with partners and team members are eligible for top-notch discounts for a primary childcare.
- COMMUTER BENEFIT: RED HAT has a good 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: RED HAT has a valuable 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: RED HAT has an impressive 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: RED HAT has a remarkable 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: RED HAT 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: RED HAT does not offer paid volunteer time off.
- PARENTAL LEAVE: RED HAT has an exceptional parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | RED HAT | Industry | North Carolina |
|---|---|---|---|
| 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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