This report analyzes and compares VECTREN CORPORATION's employee health insurance and employee benefits with its industry and in Indiana 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
VECTREN CORPORATION has remarkable 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 VECTREN CORPORATION. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: VECTREN CORPORATION offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, VECTREN CORPORATION makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: VECTREN CORPORATION believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: VECTREN CORPORATION offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: VECTREN CORPORATION has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: VECTREN CORPORATION believes that providing its team members with impressive leadership programs is a crucial step in creating new leaders. By using impressive tools that VECTREN CORPORATION provides for them, employees are able to learn what makes or breaks a leader.
- 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 VECTREN CORPORATION offers an exceptional Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, VECTREN CORPORATION implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: VECTREN CORPORATION does not offer tuition reimbursement.
Benefit | VECTREN CORPORATION | Industry | Indiana |
|---|---|---|---|
| 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
VECTREN CORPORATION 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 VECTREN CORPORATION's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: VECTREN CORPORATION is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why VECTREN CORPORATION 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: VECTREN CORPORATION offers a great 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: VECTREN CORPORATION 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: In an effort to improve the wellbeing and quality of life of its team members, VECTREN CORPORATION offers solid 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: VECTREN CORPORATION has a superior 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: VECTREN CORPORATION has a great maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: VECTREN CORPORATION has implemented a superb telehealth policy for its members to use any time of the day, every single day. VECTREN CORPORATION covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: VECTREN CORPORATION 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 | VECTREN CORPORATION | Industry | Indiana |
|---|---|---|---|
| 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
VECTREN CORPORATION 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: VECTREN CORPORATION does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: VECTREN CORPORATION 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 VECTREN CORPORATION.
- BONUS PAY: VECTREN CORPORATION 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: VECTREN CORPORATION has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: VECTREN CORPORATION 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: VECTREN CORPORATION offers a superb 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: VECTREN CORPORATION 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: VECTREN CORPORATION offers a suitable life insurance policy to its team members for an affordable price. VECTREN CORPORATION 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: VECTREN CORPORATION 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: VECTREN CORPORATION has a remarkable volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, VECTREN CORPORATION stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: VECTREN CORPORATION has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | VECTREN CORPORATION | Industry | Indiana |
|---|---|---|---|
| 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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