This report analyzes and compares THE TECH'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 TECH has superior 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 THE TECH. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: THE TECH offers superb possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, THE TECH makes sure that every single team member takes the full advantage of superb career planning programs.
- COACHING AND MENTORING: THE TECH does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows THE TECH to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in exceptional workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: THE TECH has an excellent GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: THE TECH does not offer leadership programs.
- ONBOARDING: THE TECH offers a top-notch Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: THE TECH knows that dedicated team members are hard to come by so it has an exceptional Recognition program for those who stand out and continually contribute to THE TECH.
- TUITION REIMBURSEMENT: THE TECH realizes that continuous education is a key to success so it has an excellent Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | THE TECH | 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 TECH 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 TECH's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: THE TECH 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 TECH implemented a solid 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 solid counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: THE TECH offers a good dental plan for its team members to take care of their basic dental needs. The plan covers preventive dental exams in full. Team members have an option to pay for a more inclusive dental plan with better coverage.
- HEALTH INSURANCE: THE TECH provides an extraordinary health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, THE TECH offers suitable 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: THE TECH offers an excellent healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: THE TECH has a valuable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: THE TECH does not offer telehealth.
- VISION PLAN: THE TECH has an extraordinary 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 | THE TECH | 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 TECH 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: THE TECH knows how important it is to think about retirement and start saving on time. That's why it offers a valuable 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 TECH 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 TECH provides resources which will help team members decide what to do with their 401(k) plan. THE TECH offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: THE TECH has a suitable 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 TECH offers superior bonuses to team members who excel in their field of work, provide extraordinary results for THE TECH, and encourage others to do the same.
- CHILDCARE DISCOUNT: THE TECH cooperates with partners and team members are eligible for first-class discounts for a primary childcare.
- COMMUTER BENEFIT: THE TECH acknowledges the fact that some team members have high commuting costs so it offers them superb commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: THE TECH offers an exceptional 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 TECH offers a top-notch 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 TECH offers a valuable life insurance policy to its team members for an affordable price. THE TECH 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 TECH 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 TECH does not offer paid volunteer time off.
- PARENTAL LEAVE: THE TECH has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | THE TECH | 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 |
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