This report analyzes and compares VICOR CORPORATION'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
VICOR CORPORATION has first-class 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 VICOR CORPORATION. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: VICOR CORPORATION offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, VICOR CORPORATION makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: VICOR CORPORATION does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: VICOR 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: VICOR CORPORATION has an excellent GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: VICOR CORPORATION offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by VICOR CORPORATION to grow as leaders and learn how to make tough calls.
- 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 VICOR CORPORATION offers an extraordinary 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, VICOR CORPORATION implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: VICOR CORPORATION does not offer tuition reimbursement.
Benefit | VICOR CORPORATION | 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
VICOR CORPORATION 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 VICOR CORPORATION's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: VICOR CORPORATION does not offer counseling.
- DENTAL PLAN: VICOR CORPORATION cares about its team members' dental health so it offers an extraordinary 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: VICOR CORPORATION provides an impressive health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: VICOR CORPORATION does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, VICOR CORPORATION 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: Aware of the challenges that come with pregnancy, VICOR CORPORATION has created a first-class maternity support program to support its expecting team members.
- TELEHEALTH: VICOR CORPORATION has implemented a first-class telehealth policy for its members to use any time of the day, every single day. VICOR 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: VICOR CORPORATION provides a first-class 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 | VICOR CORPORATION | 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
VICOR CORPORATION 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: VICOR CORPORATION has an outstanding 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, VICOR CORPORATION offers an outstanding program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, VICOR CORPORATION offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: VICOR CORPORATION has a superior 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 VICOR CORPORATION.
- BONUS PAY: VICOR CORPORATION has a good bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
- CHILDCARE DISCOUNT: VICOR CORPORATION has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: VICOR CORPORATION has a valuable 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: VICOR CORPORATION offers an impressive 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: VICOR CORPORATION has a good 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 good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: VICOR CORPORATION offers a good life insurance policy to its team members for an affordable price. VICOR 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: VICOR CORPORATION has an outstanding vacation program for its team members with a great deal of paid vacation days. Team members can spend those days at their own pace, any time of the year. Various national and personal holidays are taken into account as well.
- PAID VOLUNTEER TIME OFF: VICOR CORPORATION does not offer paid volunteer time off.
- PARENTAL LEAVE: VICOR CORPORATION has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | VICOR CORPORATION | 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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