This report analyzes and compares TRW AUTOMOTIVE HOLDINGS' employee health insurance and employee benefits with its industry and in Michigan 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
TRW AUTOMOTIVE HOLDINGS 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 TRW AUTOMOTIVE HOLDINGS. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: TRW AUTOMOTIVE HOLDINGS 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. TRW AUTOMOTIVE HOLDINGS has great resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a valuable coaching and mentoring program, TRW AUTOMOTIVE HOLDINGS can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows TRW AUTOMOTIVE HOLDINGS 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: TRW AUTOMOTIVE HOLDINGS does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: TRW AUTOMOTIVE HOLDINGS believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that TRW AUTOMOTIVE HOLDINGS provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: TRW AUTOMOTIVE HOLDINGS offers a superb 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: TRW AUTOMOTIVE HOLDINGS has a first-class 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: TRW AUTOMOTIVE HOLDINGS has a valuable 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 | TRW AUTOMOTIVE HOLDINGS | Industry | Michigan |
|---|---|---|---|
| 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
TRW AUTOMOTIVE HOLDINGS offers remarkable 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 TRW AUTOMOTIVE HOLDINGS's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: TRW AUTOMOTIVE HOLDINGS wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its first-class 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: TRW AUTOMOTIVE HOLDINGS cares about its team members' dental health so it offers an excellent 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: TRW AUTOMOTIVE HOLDINGS offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: TRW AUTOMOTIVE HOLDINGS is aware of the fact that a healthy employee is a productive employee so it offers exceptional health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: TRW AUTOMOTIVE HOLDINGS has a top-notch 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: TRW AUTOMOTIVE HOLDINGS has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: TRW AUTOMOTIVE HOLDINGS has implemented a first-class telehealth policy for its members to use any time of the day, every single day. TRW AUTOMOTIVE HOLDINGS covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: TRW AUTOMOTIVE HOLDINGS 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 | TRW AUTOMOTIVE HOLDINGS | Industry | Michigan |
|---|---|---|---|
| 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
TRW AUTOMOTIVE HOLDINGS 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: TRW AUTOMOTIVE HOLDINGS knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 TRW AUTOMOTIVE HOLDINGS 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, TRW AUTOMOTIVE HOLDINGS provides resources which will help team members decide what to do with their 401(k) plan. TRW AUTOMOTIVE HOLDINGS offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: TRW AUTOMOTIVE HOLDINGS does not offer adoption assistance reimbursement.
- BONUS PAY: TRW AUTOMOTIVE HOLDINGS 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: TRW AUTOMOTIVE HOLDINGS does not offer childcare discount.
- COMMUTER BENEFIT: TRW AUTOMOTIVE HOLDINGS has a suitable 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: TRW AUTOMOTIVE HOLDINGS has a good 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: TRW AUTOMOTIVE HOLDINGS has an excellent disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: TRW AUTOMOTIVE HOLDINGS offers an outstanding life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This outstanding life insurance package contains dependent policies as well.
- PAID TIME OFF: TRW AUTOMOTIVE HOLDINGS realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why TRW AUTOMOTIVE HOLDINGS has a first-class vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: TRW AUTOMOTIVE HOLDINGS believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why TRW AUTOMOTIVE HOLDINGS offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: TRW AUTOMOTIVE HOLDINGS has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | TRW AUTOMOTIVE HOLDINGS | Industry | Michigan |
|---|---|---|---|
| 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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