This report analyzes and compares THE CATO CORPORATION's employee health insurance and employee benefits with its industry and in North Carolina 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
THE CATO CORPORATION offers suitable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. THE CATO CORPORATION believes that every employee has a valuable set of skills so it helps them plan their careers with suitable developmental resources and mentorships.
- CAREER PLANNING: THE CATO CORPORATION continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that THE CATO CORPORATION uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: THE CATO CORPORATION does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: THE CATO CORPORATION offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: THE CATO CORPORATION has an impressive GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: THE CATO CORPORATION does not offer leadership programs.
- ONBOARDING: THE CATO CORPORATION does not offer onboarding.
- RECOGNITION PROGRAMS: THE CATO CORPORATION has a superb Recognition program in place and makes sure that team members who constantly achieve extraordinary results and work well with others are properly rewarded for their efforts.
- TUITION REIMBURSEMENT: THE CATO CORPORATION 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 | THE CATO CORPORATION | Industry | North Carolina |
|---|---|---|---|
| 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
THE CATO CORPORATION 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 THE CATO CORPORATION's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: THE CATO CORPORATION has an extraordinary counseling program for its employees and their family members. Team members are encouraged by THE CATO 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 extraordinary counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: THE CATO CORPORATION cares about its team members' dental health so it offers an exceptional dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: THE CATO CORPORATION offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: THE CATO CORPORATION offers its team members top-notch 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. THE CATO CORPORATION provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: THE CATO CORPORATION 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: THE CATO CORPORATION offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: THE CATO CORPORATION has a valuable 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. THE CATO CORPORATION can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: THE CATO CORPORATION provides a first-class 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 | THE CATO CORPORATION | Industry | North Carolina |
|---|---|---|---|
| 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 valuable financial benefits at THE CATO CORPORATION. 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. THE CATO CORPORATION offers valuable life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect THE CATO CORPORATION to partially cover the expenses.
- 401(K) PLAN: THE CATO CORPORATION does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: THE CATO CORPORATION has a first-class 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 THE CATO CORPORATION.
- BONUS PAY: THE CATO 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: THE CATO CORPORATION has an exceptional childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: THE CATO CORPORATION has a great 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: THE CATO CORPORATION offers a superb 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: THE CATO CORPORATION has a good disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: THE CATO CORPORATION has a first-class 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: THE CATO CORPORATION wants for its team members to lead a happy and fulfilled life so it has a great 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: THE CATO CORPORATION recognizes the importance of giving back to the community so it offers a suitable volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by THE CATO CORPORATION, on volunteer work of their choice.
- PARENTAL LEAVE: THE CATO CORPORATION has a first-class parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | THE CATO CORPORATION | Industry | North Carolina |
|---|---|---|---|
| 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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