This report analyzes and compares SPX CORPORATION's employee health insurance and employee benefits with its industry and in North Carolina 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
SPX CORPORATION has first-class 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 SPX CORPORATION. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: SPX CORPORATION continually evaluates its team members to determine the potential and direction of employees' careers. The impressive tools that SPX CORPORATION uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, SPX CORPORATION can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: outstanding development resources are what allows SPX CORPORATION to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in outstanding workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: SPX CORPORATION has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: SPX CORPORATION is always on the lookout for new leadership material and offers valuable development programs for its team members. With access to valuable resources, SPX CORPORATION ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: SPX CORPORATION is aware of the difficulties that new employees might experience when they join the team. That's why SPX CORPORATION has a suitable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: SPX CORPORATION has a first-class 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: SPX CORPORATION has a great 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 | SPX CORPORATION | Industry | North Carolina |
|---|---|---|---|
| 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
SPX CORPORATION 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 SPX CORPORATION's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: SPX CORPORATION is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why SPX CORPORATION implemented a good 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 good counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: SPX CORPORATION cares about its team members' dental health so it offers an excellent 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: SPX CORPORATION offers a top-notch health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, SPX CORPORATION 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: SPX CORPORATION 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, SPX CORPORATION has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: SPX CORPORATION does not offer telehealth.
- VISION PLAN: SPX CORPORATION offers a suitable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | SPX CORPORATION | Industry | North Carolina |
|---|---|---|---|
| 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
SPX CORPORATION 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: SPX CORPORATION has an impressive 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, SPX CORPORATION offers an impressive program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, SPX CORPORATION offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: SPX CORPORATION does not offer adoption assistance reimbursement.
- BONUS PAY: SPX CORPORATION offers superb bonuses to team members who excel in their field of work, provide extraordinary results for SPX CORPORATION, and encourage others to do the same.
- CHILDCARE DISCOUNT: SPX CORPORATION does not offer childcare discount.
- COMMUTER BENEFIT: SPX CORPORATION acknowledges the fact that some team members have high commuting costs so it offers them superb commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: SPX CORPORATION offers a first-class daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
- DISABILITY: SPX CORPORATION has a suitable 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 suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: SPX CORPORATION 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: SPX CORPORATION 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: SPX CORPORATION believes that outstanding volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why SPX CORPORATION offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: SPX CORPORATION has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | SPX CORPORATION | Industry | North Carolina |
|---|---|---|---|
| 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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