This report analyzes and compares SCHOLASTIC's employee health insurance and employee benefits with its industry and in New York 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
SCHOLASTIC 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 SCHOLASTIC. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: SCHOLASTIC continually evaluates its team members to determine the potential and direction of employees' careers. The exceptional tools that SCHOLASTIC uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: SCHOLASTIC does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows SCHOLASTIC 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: SCHOLASTIC does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: SCHOLASTIC believes that providing its team members with excellent leadership programs is a crucial step in creating new leaders. By using excellent tools that SCHOLASTIC 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 SCHOLASTIC offers an outstanding Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: SCHOLASTIC 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 SCHOLASTIC.
- TUITION REIMBURSEMENT: SCHOLASTIC 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 | SCHOLASTIC | Industry | New York |
|---|---|---|---|
| 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
SCHOLASTIC 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 SCHOLASTIC's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: SCHOLASTIC 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: SCHOLASTIC cares about its team members' dental health so it offers an exceptional 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: SCHOLASTIC 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, SCHOLASTIC offers solid 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: SCHOLASTIC 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, SCHOLASTIC has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: SCHOLASTIC has a valuable 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. SCHOLASTIC can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: SCHOLASTIC provides a superior Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
Benefit | SCHOLASTIC | Industry | New York |
|---|---|---|---|
| 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
SCHOLASTIC 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: SCHOLASTIC knows how important it is to think about retirement and start saving on time. That's why it offers a solid 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and SCHOLASTIC will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, SCHOLASTIC provides resources which will help team members decide what to do with their 401(k) plan. SCHOLASTIC offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: SCHOLASTIC has a valuable Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: SCHOLASTIC has a valuable 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: SCHOLASTIC offers a valuable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: SCHOLASTIC acknowledges the fact that some team members have high commuting costs so it offers them first-class commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: SCHOLASTIC offers an excellent daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.
- DISABILITY: SCHOLASTIC has an extraordinary 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: SCHOLASTIC 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: SCHOLASTIC realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why SCHOLASTIC has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: SCHOLASTIC has a remarkable volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, SCHOLASTIC stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: SCHOLASTIC has a valuable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | SCHOLASTIC | Industry | New York |
|---|---|---|---|
| 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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