This report analyzes and compares STATE STREET CORPORATION's employee health insurance and employee benefits with its industry and in Massachusetts 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
STATE STREET CORPORATION has remarkable 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 STATE STREET CORPORATION. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: STATE STREET CORPORATION believes that career planning of each employee is a key to a successful business and offers solid opportunities so that the employees can reach their full potential. STATE STREET CORPORATION has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: STATE STREET CORPORATION offers superb coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: STATE STREET CORPORATION offers top-notch development resources to enable its employees to grow on a personal and a professional plan. With access to top-notch intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: STATE STREET CORPORATION has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: STATE STREET CORPORATION offers a wide variety of superior courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by STATE STREET CORPORATION to grow as leaders and learn how to make tough calls.
- ONBOARDING: STATE STREET CORPORATION offers a superb 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: Aware of the fact that its team members work hard, STATE STREET CORPORATION implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: STATE STREET CORPORATION does not offer tuition reimbursement.
Benefit | STATE STREET CORPORATION | Industry | Massachusetts |
|---|---|---|---|
| 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
STATE STREET 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 STATE STREET CORPORATION's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: STATE STREET CORPORATION has an outstanding counseling program for its employees and their family members. Team members are encouraged by STATE STREET CORPORATION 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 outstanding counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at STATE STREET CORPORATION have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. STATE STREET CORPORATION partially pays for dentures and braces as well.
- HEALTH INSURANCE: STATE STREET CORPORATION offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: STATE STREET CORPORATION offers its team members first-class health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. STATE STREET CORPORATION provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, STATE STREET CORPORATION offers a valuable 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: STATE STREET CORPORATION offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: STATE STREET CORPORATION has implemented a superb telehealth policy for its members to use any time of the day, every single day. STATE STREET CORPORATION covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: STATE STREET CORPORATION offers a good Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | STATE STREET CORPORATION | Industry | Massachusetts |
|---|---|---|---|
| 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
STATE STREET CORPORATION 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: STATE STREET CORPORATION does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: STATE STREET CORPORATION has an extraordinary Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: STATE STREET CORPORATION 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: STATE STREET CORPORATION offers a valuable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: STATE STREET CORPORATION 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: STATE STREET CORPORATION 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: STATE STREET CORPORATION has an impressive 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: STATE STREET CORPORATION offers a solid life insurance policy to its team members for an affordable price. STATE STREET CORPORATION 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: STATE STREET CORPORATION wants for its team members to lead a happy and fulfilled life so it has a good 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: STATE STREET CORPORATION has a first-class volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, STATE STREET CORPORATION stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: STATE STREET CORPORATION has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | STATE STREET CORPORATION | Industry | Massachusetts |
|---|---|---|---|
| 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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