This report analyzes and compares UNIVERSAL MUSIC GROUP's employee health insurance and employee benefits with its industry and in California 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
UNIVERSAL MUSIC GROUP has top-notch 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 UNIVERSAL MUSIC GROUP. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: UNIVERSAL MUSIC GROUP offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, UNIVERSAL MUSIC GROUP makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: UNIVERSAL MUSIC GROUP believes that an excellent coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: excellent development resources are what allows UNIVERSAL MUSIC GROUP to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in excellent workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: UNIVERSAL MUSIC GROUP has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: UNIVERSAL MUSIC GROUP offers a wide variety of top-notch courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by UNIVERSAL MUSIC GROUP to grow as leaders and learn how to make tough calls.
- ONBOARDING: UNIVERSAL MUSIC GROUP is aware of the difficulties that new employees might experience when they join the team. That's why UNIVERSAL MUSIC GROUP has a great Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: UNIVERSAL MUSIC GROUP knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to UNIVERSAL MUSIC GROUP.
- TUITION REIMBURSEMENT: UNIVERSAL MUSIC GROUP 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 | UNIVERSAL MUSIC GROUP | Industry | California |
|---|---|---|---|
| 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
UNIVERSAL MUSIC GROUP offers top-notch 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 UNIVERSAL MUSIC GROUP's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: UNIVERSAL MUSIC GROUP is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why UNIVERSAL MUSIC GROUP implemented a good 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 good counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: UNIVERSAL MUSIC GROUP offers a solid 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: UNIVERSAL MUSIC GROUP offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: UNIVERSAL MUSIC GROUP offers its team members superb 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. UNIVERSAL MUSIC GROUP provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, UNIVERSAL MUSIC GROUP offers a valuable 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: UNIVERSAL MUSIC GROUP offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: UNIVERSAL MUSIC GROUP has an exceptional telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: UNIVERSAL MUSIC GROUP 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 | UNIVERSAL MUSIC GROUP | Industry | California |
|---|---|---|---|
| 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
UNIVERSAL MUSIC GROUP 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: UNIVERSAL MUSIC GROUP does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: UNIVERSAL MUSIC GROUP has a top-notch 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 UNIVERSAL MUSIC GROUP.
- BONUS PAY: UNIVERSAL MUSIC GROUP has an outstanding 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: UNIVERSAL MUSIC GROUP has an excellent childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: UNIVERSAL MUSIC GROUP has a solid 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: UNIVERSAL MUSIC GROUP offers a remarkable 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: UNIVERSAL MUSIC GROUP has a suitable 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 suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: UNIVERSAL MUSIC GROUP offers an extraordinary 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 extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: UNIVERSAL MUSIC GROUP 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: UNIVERSAL MUSIC GROUP does not offer paid volunteer time off.
- PARENTAL LEAVE: UNIVERSAL MUSIC GROUP has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | UNIVERSAL MUSIC GROUP | Industry | California |
|---|---|---|---|
| 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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