This report analyzes and compares THE MIDDLEBY CORP's employee health insurance and employee benefits with its industry and in Illinois 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 MIDDLEBY CORP 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 MIDDLEBY CORP 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 MIDDLEBY CORP believes that career planning of each employee is a key to a successful business and offers great opportunities so that the employees can reach their full potential. THE MIDDLEBY CORP has great resources at its disposal to achieve this goal.
- COACHING AND MENTORING: THE MIDDLEBY CORP believes that an outstanding coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: extraordinary development resources are what allows THE MIDDLEBY CORP to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in extraordinary workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: THE MIDDLEBY CORP does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: THE MIDDLEBY CORP offers a wide variety of superb courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by THE MIDDLEBY CORP to grow as leaders and learn how to make tough calls.
- ONBOARDING: THE MIDDLEBY CORP does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, THE MIDDLEBY CORP implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: THE MIDDLEBY CORP has a solid 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 MIDDLEBY CORP | Industry | Illinois |
|---|---|---|---|
| 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 MIDDLEBY CORP has valuable health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers valuable dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a valuable healthcare spending account at their disposal.
- COUNSELING: THE MIDDLEBY CORP is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why THE MIDDLEBY CORP implemented a valuable counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This valuable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at THE MIDDLEBY CORP have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. THE MIDDLEBY CORP partially pays for dentures and braces as well.
- HEALTH INSURANCE: THE MIDDLEBY CORP provides an impressive health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: THE MIDDLEBY CORP does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, THE MIDDLEBY CORP offers a great 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: Aware of the challenges that come with pregnancy, THE MIDDLEBY CORP has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: THE MIDDLEBY CORP does not offer telehealth.
- VISION PLAN: THE MIDDLEBY CORP provides a remarkable 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 MIDDLEBY CORP | Industry | Illinois |
|---|---|---|---|
| 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 great financial benefits at THE MIDDLEBY CORP. 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 MIDDLEBY CORP offers great life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect THE MIDDLEBY CORP to partially cover the expenses.
- 401(K) PLAN: THE MIDDLEBY CORP knows how important it is to think about retirement and start saving on time. That's why it offers a suitable 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 MIDDLEBY CORP 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 MIDDLEBY CORP provides resources which will help team members decide what to do with their 401(k) plan. THE MIDDLEBY CORP offers a suitable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: THE MIDDLEBY CORP 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: THE MIDDLEBY CORP has an exceptional 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 MIDDLEBY CORP cooperates with partners and team members are eligible for first-class discounts for a primary childcare.
- COMMUTER BENEFIT: THE MIDDLEBY CORP offers impressive commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: THE MIDDLEBY CORP has a great daycare spending account that fills from each paycheck before taxes. This allows team members to partially cover costs of daycare while they are at work.
- DISABILITY: THE MIDDLEBY CORP has a solid 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 solid coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: THE MIDDLEBY CORP offers a great life insurance policy to its team members for an affordable price. THE MIDDLEBY CORP 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 MIDDLEBY CORP 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: THE MIDDLEBY CORP does not offer paid volunteer time off.
- PARENTAL LEAVE: THE MIDDLEBY CORP has a first-class parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | THE MIDDLEBY CORP | Industry | Illinois |
|---|---|---|---|
| 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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