This report analyzes and compares THERMO KING's employee health insurance and employee benefits with its industry and in Minnesota 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
THERMO KING 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 THERMO KING. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: THERMO KING offers superb possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, THERMO KING makes sure that every single team member takes the full advantage of superb career planning programs.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, THERMO KING can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: impressive development resources are what allows THERMO KING to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in impressive workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: THERMO KING has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: THERMO KING 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 THERMO KING offers an impressive Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: THERMO KING has a top-notch 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: THERMO KING realizes that continuous education is a key to success so it has an impressive Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | THERMO KING | Industry | Minnesota |
|---|---|---|---|
| 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
THERMO KING 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 THERMO KING's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: THERMO KING wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb 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 THERMO KING 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. THERMO KING partially pays for dentures and braces as well.
- HEALTH INSURANCE: THERMO KING provides an exceptional health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: THERMO KING offers its team members first-class 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. THERMO KING provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, THERMO KING offers a good 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: THERMO KING offers an outstanding maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: THERMO KING does not offer telehealth.
- VISION PLAN: THERMO KING has an outstanding 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 | THERMO KING | Industry | Minnesota |
|---|---|---|---|
| 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
THERMO KING offers superior financial benefits for employees and their family members. A superior 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: THERMO KING has a superb 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. THERMO KING provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a superb THERMO KING has Matching program that matches 75% of employees' contributions. Whatever THERMO KING contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave THERMO KING. Recognizing that every team member is unique, with specific needs and goals, THERMO KING keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: THERMO KING has a superb 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 THERMO KING.
- BONUS PAY: THERMO KING has an excellent 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: THERMO KING does not offer childcare discount.
- COMMUTER BENEFIT: THERMO KING offers outstanding 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: THERMO KING 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: THERMO KING 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: THERMO KING 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: THERMO KING wants for its team members to lead a happy and fulfilled life so it has a suitable 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: THERMO KING has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, THERMO KING stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: THERMO KING has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | THERMO KING | Industry | Minnesota |
|---|---|---|---|
| 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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