This report analyzes and compares TAILORED BRANDS' employee health insurance and employee benefits with its industry and in California 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
TAILORED BRANDS offers good career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. TAILORED BRANDS believes that every employee has a valuable set of skills so it helps them plan their careers with good developmental resources and mentorships.
- CAREER PLANNING: TAILORED BRANDS offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, TAILORED BRANDS makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: TAILORED BRANDS offers remarkable coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: TAILORED BRANDS encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, TAILORED BRANDS supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: TAILORED BRANDS has a great GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: TAILORED BRANDS believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that TAILORED BRANDS provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: TAILORED BRANDS does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, TAILORED BRANDS implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: TAILORED BRANDS does not offer tuition reimbursement.
Benefit | TAILORED BRANDS | Industry | California |
|---|---|---|---|
| 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
TAILORED BRANDS 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 TAILORED BRANDS's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: TAILORED BRANDS wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its first-class 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 TAILORED BRANDS 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. TAILORED BRANDS partially pays for dentures and braces as well.
- HEALTH INSURANCE: TAILORED BRANDS offers a valuable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: TAILORED BRANDS is aware of the fact that a healthy employee is a productive employee so it offers extraordinary 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: To financially help its team members with medical emergencies, TAILORED BRANDS offers a suitable 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: TAILORED BRANDS has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: TAILORED BRANDS has a great 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. TAILORED BRANDS can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: TAILORED BRANDS offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | TAILORED BRANDS | Industry | California |
|---|---|---|---|
| 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
TAILORED BRANDS 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: TAILORED BRANDS knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 TAILORED BRANDS 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, TAILORED BRANDS provides resources which will help team members decide what to do with their 401(k) plan. TAILORED BRANDS offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: TAILORED BRANDS has an exceptional 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: TAILORED BRANDS offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for TAILORED BRANDS, and encourage others to do the same.
- CHILDCARE DISCOUNT: TAILORED BRANDS cooperates with partners and team members are eligible for remarkable discounts for a primary childcare.
- COMMUTER BENEFIT: TAILORED BRANDS has a good commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: TAILORED BRANDS offers a superior 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: TAILORED BRANDS has an extraordinary 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: TAILORED BRANDS has a top-notch life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: TAILORED BRANDS wants for its team members to lead a happy and fulfilled life so it has a valuable 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: TAILORED BRANDS 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 TAILORED BRANDS, on volunteer work of their choice.
- PARENTAL LEAVE: TAILORED BRANDS has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | TAILORED BRANDS | Industry | California |
|---|---|---|---|
| 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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