This report analyzes and compares SPECTRUM's employee health insurance and employee benefits with its industry and in Virginia State.

COMPARE SPECTRUM'S EMPLOYEE HEALTH INSURANCE AND BENEFITS

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

  1. Career Benefits
  2. Healthcare Benefits
  3. Financial Benefits

Career benefits

SPECTRUM 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 SPECTRUM. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.

  • CAREER PLANNING: SPECTRUM believes that career planning of each employee is a key to a successful business and offers great opportunities so that the employees can reach their full potential. SPECTRUM has great resources at its disposal to achieve this goal.
  • COACHING AND MENTORING: SPECTRUM 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: SPECTRUM offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
  • GED REIMBURSEMENT: SPECTRUM has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
  • LEADERSHIP PROGRAMS: SPECTRUM believes that providing its team members with excellent leadership programs is a crucial step in creating new leaders. By using excellent tools that SPECTRUM provides for them, employees are able to learn what makes or breaks a leader.
  • ONBOARDING: SPECTRUM offers a top-notch 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: SPECTRUM has a superb 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: SPECTRUM has a superior Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at SPECTRUM.
SPECTRUM's career benefits comparison table

Benefit

SPECTRUM

Industry

Virginia

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

SPECTRUM 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 SPECTRUM's superior maternity support program, nutritional and psychological counseling, and health plan incentives.

  • COUNSELING: SPECTRUM has an excellent counseling program for its employees and their family members. Team members are encouraged by SPECTRUM 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 excellent counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
  • DENTAL PLAN: SPECTRUM 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: SPECTRUM offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
  • HEALTH PLAN INCENTIVES: SPECTRUM does not offer health plan incentives.
  • HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, SPECTRUM 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, SPECTRUM has created a remarkable maternity support program to support its expecting team members.
  • TELEHEALTH: SPECTRUM has implemented a top-notch telehealth policy for its members to use any time of the day, every single day. SPECTRUM covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
  • VISION PLAN: SPECTRUM has an extraordinary 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.
SPECTRUM's healthcare benefits comparison table

Benefit

SPECTRUM

Industry

Virginia

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

SPECTRUM offers remarkable financial benefits for employees and their family members. A remarkable 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: SPECTRUM knows how important it is to think about retirement and start saving on time. That's why it offers a great 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 SPECTRUM 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, SPECTRUM provides resources which will help team members decide what to do with their 401(k) plan. SPECTRUM offers a great vesting schedule with a gradual increase of 25% per year.
  • ADOPTION ASSISTANCE REIMBURSEMENT: SPECTRUM has a suitable 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: SPECTRUM offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for SPECTRUM, and encourage others to do the same.
  • CHILDCARE DISCOUNT: SPECTRUM has an outstanding childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
  • COMMUTER BENEFIT: SPECTRUM offers outstanding 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: SPECTRUM has a suitable 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: SPECTRUM has a good 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 good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
  • LIFE INSURANCE: SPECTRUM has a superb 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: SPECTRUM 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: SPECTRUM believes that outstanding volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why SPECTRUM offers its team members up to 50 hours of paid volunteer time off.
  • PARENTAL LEAVE: SPECTRUM has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
SPECTRUM's financial benefits comparison table

Benefit

SPECTRUM

Industry

Virginia

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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