This report analyzes and compares STEEL DYNAMICS' employee health insurance and employee benefits with its industry and in Indiana 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
STEEL DYNAMICS 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 STEEL DYNAMICS. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: STEEL DYNAMICS continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that STEEL DYNAMICS uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: STEEL DYNAMICS believes that an impressive coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: STEEL DYNAMICS encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, STEEL DYNAMICS supports their team members on their journey to perfection. Employees have a wide range of solid resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: STEEL DYNAMICS has a valuable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: STEEL DYNAMICS offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by STEEL DYNAMICS to grow as leaders and learn how to make tough calls.
- ONBOARDING: STEEL DYNAMICS is aware of the difficulties that new employees might experience when they join the team. That's why STEEL DYNAMICS has a suitable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, STEEL DYNAMICS implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: STEEL DYNAMICS 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 | STEEL DYNAMICS | Industry | Indiana |
|---|---|---|---|
| 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
STEEL DYNAMICS 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 STEEL DYNAMICS's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: STEEL DYNAMICS is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why STEEL DYNAMICS 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: Team members at STEEL DYNAMICS have a first-class dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. STEEL DYNAMICS partially pays for dentures and braces as well.
- HEALTH INSURANCE: STEEL DYNAMICS provides an exceptional health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: STEEL DYNAMICS is aware of the fact that a healthy employee is a productive employee so it offers exceptional 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: STEEL DYNAMICS offers an excellent 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: STEEL DYNAMICS offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: STEEL DYNAMICS has implemented a superb telehealth policy for its members to use any time of the day, every single day. STEEL DYNAMICS covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: STEEL DYNAMICS provides a superior 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 | STEEL DYNAMICS | Industry | Indiana |
|---|---|---|---|
| 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
STEEL DYNAMICS offers superior financial benefits for employees and their family members. A superior 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: STEEL DYNAMICS does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: STEEL DYNAMICS has a superior Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by STEEL DYNAMICS.
- BONUS PAY: STEEL DYNAMICS has an impressive 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: STEEL DYNAMICS offers a valuable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: STEEL DYNAMICS offers impressive 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: STEEL DYNAMICS has a good 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: STEEL DYNAMICS has an exceptional 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: STEEL DYNAMICS offers an impressive 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 impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: STEEL DYNAMICS 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: STEEL DYNAMICS recognizes the importance of giving back to the community so it offers a valuable volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by STEEL DYNAMICS, on volunteer work of their choice.
- PARENTAL LEAVE: STEEL DYNAMICS has an exceptional parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | STEEL DYNAMICS | Industry | Indiana |
|---|---|---|---|
| 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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