This report analyzes and compares STEIN MART's employee health insurance and employee benefits with its industry and in Florida 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
STEIN MART 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 STEIN MART. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: STEIN MART 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. STEIN MART has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a suitable coaching and mentoring program, STEIN MART can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: excellent development resources are what allows STEIN MART 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: STEIN MART has an exceptional GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: STEIN MART does not offer leadership programs.
- ONBOARDING: STEIN MART is aware of the difficulties that new employees might experience when they join the team. That's why STEIN MART has a solid Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: STEIN MART knows that dedicated team members are hard to come by so it has an outstanding Recognition program for those who stand out and continually contribute to STEIN MART.
- TUITION REIMBURSEMENT: STEIN MART has a suitable 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 | STEIN MART | Industry | Florida |
|---|---|---|---|
| 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
STEIN MART 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 STEIN MART's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: STEIN MART 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: Team members at STEIN MART have a remarkable dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. STEIN MART partially pays for dentures and braces as well.
- HEALTH INSURANCE: STEIN MART offers a top-notch health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: STEIN MART does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, STEIN MART offers a good 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: STEIN MART offers an outstanding maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: STEIN MART has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. STEIN MART covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: STEIN MART 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 | STEIN MART | Industry | Florida |
|---|---|---|---|
| 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
STEIN MART 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: STEIN MART has a remarkable 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. STEIN MART 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 remarkable STEIN MART has Matching program that matches 75% of employees' contributions. Whatever STEIN MART contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave STEIN MART. Recognizing that every team member is unique, with specific needs and goals, STEIN MART keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: STEIN MART has a valuable 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: STEIN MART has a solid 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: STEIN MART has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: STEIN MART acknowledges the fact that some team members have high commuting costs so it offers them top-notch commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: STEIN MART offers a top-notch 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: STEIN MART 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: STEIN MART 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: STEIN MART realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why STEIN MART has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: STEIN MART has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, STEIN MART stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: STEIN MART has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | STEIN MART | Industry | Florida |
|---|---|---|---|
| 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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