This report analyzes and compares SOUTHWEST AIRLINES' employee health insurance and employee benefits with its industry and in Texas 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
SOUTHWEST AIRLINES 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 SOUTHWEST AIRLINES. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: SOUTHWEST AIRLINES offers remarkable possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, SOUTHWEST AIRLINES makes sure that every single team member takes the full advantage of remarkable career planning programs.
- COACHING AND MENTORING: SOUTHWEST AIRLINES does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: excellent development resources are what allows SOUTHWEST AIRLINES to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in excellent workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: SOUTHWEST AIRLINES has an extraordinary GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: SOUTHWEST AIRLINES does not offer leadership programs.
- 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 SOUTHWEST AIRLINES offers an outstanding Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: SOUTHWEST AIRLINES has a top-notch 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: SOUTHWEST AIRLINES realizes that continuous education is a key to success so it has an excellent Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | SOUTHWEST AIRLINES | Industry | Texas |
|---|---|---|---|
| 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
SOUTHWEST AIRLINES offers superior 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 SOUTHWEST AIRLINES's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: SOUTHWEST AIRLINES wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb 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: SOUTHWEST AIRLINES 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: SOUTHWEST AIRLINES 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: SOUTHWEST AIRLINES is aware of the fact that a healthy employee is a productive employee so it offers extraordinary health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, SOUTHWEST AIRLINES 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: Aware of the challenges that come with pregnancy, SOUTHWEST AIRLINES has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: SOUTHWEST AIRLINES has an outstanding 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: SOUTHWEST AIRLINES provides a first-class 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 | SOUTHWEST AIRLINES | Industry | Texas |
|---|---|---|---|
| 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
SOUTHWEST AIRLINES 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: SOUTHWEST AIRLINES 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. SOUTHWEST AIRLINES 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 SOUTHWEST AIRLINES has Matching program that matches 75% of employees' contributions. Whatever SOUTHWEST AIRLINES contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave SOUTHWEST AIRLINES. Recognizing that every team member is unique, with specific needs and goals, SOUTHWEST AIRLINES keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: SOUTHWEST AIRLINES does not offer adoption assistance reimbursement.
- BONUS PAY: SOUTHWEST AIRLINES has a great 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: SOUTHWEST AIRLINES offers a good discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: SOUTHWEST AIRLINES offers extraordinary commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: SOUTHWEST AIRLINES 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: SOUTHWEST AIRLINES 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: SOUTHWEST AIRLINES offers an outstanding 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 outstanding life insurance package contains dependent policies as well.
- PAID TIME OFF: SOUTHWEST AIRLINES has an exceptional 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: SOUTHWEST AIRLINES does not offer paid volunteer time off.
- PARENTAL LEAVE: SOUTHWEST AIRLINES has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | SOUTHWEST AIRLINES | Industry | Texas |
|---|---|---|---|
| 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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