This report analyzes and compares STRATTEC SECURITY's employee health insurance and employee benefits with its industry and in Wisconsin 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
STRATTEC SECURITY 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 STRATTEC SECURITY. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: STRATTEC SECURITY continually evaluates its team members to determine the potential and direction of employees' careers. The impressive tools that STRATTEC SECURITY uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: STRATTEC SECURITY does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: STRATTEC SECURITY 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: STRATTEC SECURITY has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: STRATTEC SECURITY believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that STRATTEC SECURITY provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: STRATTEC SECURITY does not offer onboarding.
- RECOGNITION PROGRAMS: STRATTEC SECURITY knows that dedicated team members are hard to come by so it has an extraordinary Recognition program for those who stand out and continually contribute to STRATTEC SECURITY.
- TUITION REIMBURSEMENT: STRATTEC SECURITY realizes that continuous education is a key to success so it has an exceptional Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | STRATTEC SECURITY | Industry | Wisconsin |
|---|---|---|---|
| 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
STRATTEC SECURITY offers remarkable 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 STRATTEC SECURITY's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: STRATTEC SECURITY does not offer counseling.
- DENTAL PLAN: Team members at STRATTEC SECURITY have a superior dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. STRATTEC SECURITY partially pays for dentures and braces as well.
- HEALTH INSURANCE: STRATTEC SECURITY 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, STRATTEC SECURITY offers solid 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: STRATTEC SECURITY has a first-class healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.
- MATERNITY SUPPORT PROGRAM: STRATTEC SECURITY offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: STRATTEC SECURITY has a suitable telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. STRATTEC SECURITY can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: STRATTEC SECURITY has an excellent 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.
Benefit | STRATTEC SECURITY | Industry | Wisconsin |
|---|---|---|---|
| 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
Team members enjoy suitable financial benefits at STRATTEC SECURITY. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. STRATTEC SECURITY offers suitable life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect STRATTEC SECURITY to partially cover the expenses.
- 401(K) PLAN: STRATTEC SECURITY 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 STRATTEC SECURITY 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, STRATTEC SECURITY provides resources which will help team members decide what to do with their 401(k) plan. STRATTEC SECURITY offers a great vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: STRATTEC SECURITY does not offer adoption assistance reimbursement.
- BONUS PAY: STRATTEC SECURITY has a great 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: STRATTEC SECURITY does not offer childcare discount.
- COMMUTER BENEFIT: STRATTEC SECURITY acknowledges the fact that some team members have high commuting costs so it offers them remarkable commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: STRATTEC SECURITY offers a remarkable 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: STRATTEC SECURITY 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: STRATTEC SECURITY offers a solid life insurance policy to its team members for an affordable price. STRATTEC SECURITY 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: STRATTEC SECURITY realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why STRATTEC SECURITY has a first-class vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: STRATTEC SECURITY does not offer paid volunteer time off.
- PARENTAL LEAVE: STRATTEC SECURITY has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | STRATTEC SECURITY | Industry | Wisconsin |
|---|---|---|---|
| 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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