This report analyzes and compares WPX ENERGY's employee health insurance and employee benefits with its industry and in Oklahoma 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
WPX ENERGY 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 WPX ENERGY. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: WPX ENERGY continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that WPX ENERGY uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: WPX ENERGY offers superior coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: extraordinary development resources are what allows WPX ENERGY to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in extraordinary workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: WPX ENERGY has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: WPX ENERGY believes that providing its team members with outstanding leadership programs is a crucial step in creating new leaders. By using outstanding tools that WPX ENERGY provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: WPX ENERGY does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, WPX ENERGY implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: WPX ENERGY has a top-notch Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at WPX ENERGY.
Benefit | WPX ENERGY | Industry | Oklahoma |
|---|---|---|---|
| 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
WPX ENERGY has suitable health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers suitable dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a suitable healthcare spending account at their disposal.
- COUNSELING: WPX ENERGY is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why WPX ENERGY implemented a suitable 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 suitable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at WPX ENERGY have a first-class dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. WPX ENERGY partially pays for dentures and braces as well.
- HEALTH INSURANCE: WPX ENERGY offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: WPX ENERGY does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, WPX ENERGY offers a solid 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: WPX ENERGY has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: WPX ENERGY has a suitable telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. WPX ENERGY can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: WPX ENERGY has an excellent 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 | WPX ENERGY | Industry | Oklahoma |
|---|---|---|---|
| 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
WPX ENERGY offers top-notch financial benefits for employees and their family members. A top-notch 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: WPX ENERGY knows how important it is to think about retirement and start saving on time. That's why it offers a great 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 WPX ENERGY 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, WPX ENERGY provides resources which will help team members decide what to do with their 401(k) plan. WPX ENERGY offers a great vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: WPX ENERGY has an outstanding Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: WPX ENERGY offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for WPX ENERGY, and encourage others to do the same.
- CHILDCARE DISCOUNT: WPX ENERGY offers a valuable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: WPX ENERGY has a great 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: WPX ENERGY 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: WPX ENERGY 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: WPX ENERGY offers a good life insurance policy to its team members for an affordable price. WPX ENERGY 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: WPX ENERGY realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why WPX ENERGY has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: WPX ENERGY has a remarkable volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, WPX ENERGY stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: WPX ENERGY has an excellent parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | WPX ENERGY | Industry | Oklahoma |
|---|---|---|---|
| 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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