This report analyzes and compares SANTANDER BANK'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
SANTANDER BANK 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 SANTANDER BANK. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: SANTANDER BANK believes that career planning of each employee is a key to a successful business and offers valuable opportunities so that the employees can reach their full potential. SANTANDER BANK has valuable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: SANTANDER BANK believes that an outstanding coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows SANTANDER BANK to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in exceptional workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: SANTANDER BANK has a valuable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: SANTANDER BANK offers a wide variety of top-notch courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by SANTANDER BANK to grow as leaders and learn how to make tough calls.
- ONBOARDING: SANTANDER BANK offers a remarkable 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: SANTANDER BANK has a superior 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: SANTANDER BANK 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 | SANTANDER BANK | 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
SANTANDER BANK 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 SANTANDER BANK's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: SANTANDER BANK has an extraordinary counseling program for its employees and their family members. Team members are encouraged by SANTANDER BANK 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: SANTANDER BANK offers a great 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: SANTANDER BANK 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, SANTANDER BANK offers good 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: SANTANDER BANK has a superb 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: SANTANDER BANK 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: SANTANDER BANK has implemented a superior telehealth policy for its members to use any time of the day, every single day. SANTANDER BANK covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: SANTANDER BANK 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 | SANTANDER BANK | 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
SANTANDER BANK 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: SANTANDER BANK 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. SANTANDER BANK 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 SANTANDER BANK has Matching program that matches 75% of employees' contributions. Whatever SANTANDER BANK contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave SANTANDER BANK. Recognizing that every team member is unique, with specific needs and goals, SANTANDER BANK keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: SANTANDER BANK has a remarkable Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by SANTANDER BANK.
- BONUS PAY: SANTANDER BANK offers top-notch bonuses to team members who excel in their field of work, provide extraordinary results for SANTANDER BANK, and encourage others to do the same.
- CHILDCARE DISCOUNT: SANTANDER BANK does not offer childcare discount.
- COMMUTER BENEFIT: SANTANDER BANK has a great 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: SANTANDER BANK 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: SANTANDER BANK 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: SANTANDER BANK offers an excellent 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 excellent life insurance package contains dependent policies as well.
- PAID TIME OFF: SANTANDER BANK 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: SANTANDER BANK believes that extraordinary volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why SANTANDER BANK offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: SANTANDER BANK has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | SANTANDER BANK | 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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