This report analyzes and compares THE LS STARRETT COMPANY's employee health insurance and employee benefits with its industry and in Massachusetts 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 LS STARRETT COMPANY 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 LS STARRETT COMPANY 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 LS STARRETT COMPANY offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, THE LS STARRETT COMPANY makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: THE LS STARRETT COMPANY does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: THE LS STARRETT COMPANY offers remarkable development resources to enable its employees to grow on a personal and a professional plan. With access to remarkable intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: THE LS STARRETT COMPANY does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: THE LS STARRETT COMPANY does not offer leadership programs.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why THE LS STARRETT COMPANY offers an extraordinary Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: THE LS STARRETT COMPANY 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 LS STARRETT COMPANY has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at THE LS STARRETT COMPANY.
Benefit | THE LS STARRETT COMPANY | Industry | Massachusetts |
|---|---|---|---|
| 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 LS STARRETT COMPANY 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 LS STARRETT COMPANY's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: THE LS STARRETT COMPANY does not offer counseling.
- DENTAL PLAN: THE LS STARRETT COMPANY cares about its team members' dental health so it offers an extraordinary 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 LS STARRETT COMPANY offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: THE LS STARRETT COMPANY offers its team members superior 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 LS STARRETT COMPANY provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: THE LS STARRETT COMPANY has a remarkable 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: Aware of the challenges that come with pregnancy, THE LS STARRETT COMPANY has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: THE LS STARRETT COMPANY has implemented a superb telehealth policy for its members to use any time of the day, every single day. THE LS STARRETT COMPANY covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: THE LS STARRETT COMPANY 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 | THE LS STARRETT COMPANY | Industry | Massachusetts |
|---|---|---|---|
| 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
THE LS STARRETT COMPANY offers superb financial benefits for employees and their family members. A superb 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: THE LS STARRETT COMPANY knows how important it is to think about retirement and start saving on time. That's why it offers a solid 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 THE LS STARRETT COMPANY 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, THE LS STARRETT COMPANY provides resources which will help team members decide what to do with their 401(k) plan. THE LS STARRETT COMPANY offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: THE LS STARRETT COMPANY has an excellent 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: THE LS STARRETT COMPANY has an extraordinary 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: THE LS STARRETT COMPANY has an excellent childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: THE LS STARRETT COMPANY 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 LS STARRETT COMPANY offers an excellent daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.
- DISABILITY: THE LS STARRETT COMPANY offers a first-class short-term disability coverage for its team members. Through disability program, part of the employee's salary is replaced by the coverage for a limited time. This enables team members to have a financial stability during the difficult period of their lives and helps them to get back on track.
- LIFE INSURANCE: THE LS STARRETT COMPANY offers a suitable life insurance policy to its team members for an affordable price. THE LS STARRETT COMPANY 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: THE LS STARRETT COMPANY realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why THE LS STARRETT COMPANY has a superb vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: THE LS STARRETT COMPANY recognizes the importance of giving back to the community so it offers a great volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by THE LS STARRETT COMPANY, on volunteer work of their choice.
- PARENTAL LEAVE: THE LS STARRETT COMPANY has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | THE LS STARRETT COMPANY | Industry | Massachusetts |
|---|---|---|---|
| 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 |
Improve this report:
We have prepared THE LS STARRETT COMPANY's benefits report with the best of our knowledge. If you believe some information here is incorrect, please click the link below and send as a note.
We will contact you and/or update the information in 2-5 business days.