This report analyzes and compares SLEEP NUMBER's employee health insurance and employee benefits with its industry and in Minnesota 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
SLEEP NUMBER 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 SLEEP NUMBER. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: SLEEP NUMBER continually evaluates its team members to determine the potential and direction of employees' careers. The impressive tools that SLEEP NUMBER uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: By using a suitable coaching and mentoring program, SLEEP NUMBER can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: SLEEP NUMBER offers remarkable development resources to enable its employees to grow on a personal and a professional plan. With access to remarkable intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: SLEEP NUMBER has a top-notch policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: SLEEP NUMBER offers a wide variety of remarkable courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by SLEEP NUMBER to grow as leaders and learn how to make tough calls.
- ONBOARDING: SLEEP NUMBER 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: SLEEP NUMBER knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to SLEEP NUMBER.
- TUITION REIMBURSEMENT: SLEEP NUMBER has a remarkable Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at SLEEP NUMBER.
Benefit | SLEEP NUMBER | Industry | Minnesota |
|---|---|---|---|
| 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
SLEEP NUMBER 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 SLEEP NUMBER's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: SLEEP NUMBER is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why SLEEP NUMBER implemented a great counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This great counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: SLEEP NUMBER cares about its team members' dental health so it offers an outstanding 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: SLEEP NUMBER provides an impressive 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, SLEEP NUMBER offers great 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: SLEEP NUMBER offers an outstanding 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: SLEEP NUMBER offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: SLEEP NUMBER has implemented a superior telehealth policy for its members to use any time of the day, every single day. SLEEP NUMBER covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: SLEEP NUMBER 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 | SLEEP NUMBER | Industry | Minnesota |
|---|---|---|---|
| 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
SLEEP NUMBER offers first-class financial benefits for employees and their family members. A first-class 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: SLEEP NUMBER has a superior 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. SLEEP NUMBER 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 superior SLEEP NUMBER has Matching program that matches 75% of employees' contributions. Whatever SLEEP NUMBER contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave SLEEP NUMBER. Recognizing that every team member is unique, with specific needs and goals, SLEEP NUMBER keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: SLEEP NUMBER 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: SLEEP NUMBER 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: SLEEP NUMBER offers a valuable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: SLEEP NUMBER 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: SLEEP NUMBER offers an exceptional 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: SLEEP NUMBER 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: SLEEP NUMBER offers a valuable life insurance policy to its team members for an affordable price. SLEEP NUMBER 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: SLEEP NUMBER has an extraordinary vacation program for its team members with a great deal of paid vacation days. Team members can spend those days at their own pace, any time of the year. Various national and personal holidays are taken into account as well.
- PAID VOLUNTEER TIME OFF: SLEEP NUMBER believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why SLEEP NUMBER offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: SLEEP NUMBER has a remarkable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | SLEEP NUMBER | Industry | Minnesota |
|---|---|---|---|
| 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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