This report analyzes and compares ALTRA INDUSTRIAL MOTION'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
ALTRA INDUSTRIAL MOTION has superb 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 ALTRA INDUSTRIAL MOTION. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: ALTRA INDUSTRIAL MOTION believes that career planning of each employee is a key to a successful business and offers good opportunities so that the employees can reach their full potential. ALTRA INDUSTRIAL MOTION has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: ALTRA INDUSTRIAL MOTION offers first-class coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: ALTRA INDUSTRIAL MOTION encourages its team members to work on their existing skills and gain new ones continually. By providing great development resources, ALTRA INDUSTRIAL MOTION supports their team members on their journey to perfection. Employees have a wide range of great resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: ALTRA INDUSTRIAL MOTION has an extraordinary GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: ALTRA INDUSTRIAL MOTION is always on the lookout for new leadership material and offers good development programs for its team members. With access to good resources, ALTRA INDUSTRIAL MOTION ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: ALTRA INDUSTRIAL MOTION offers a superior 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: ALTRA INDUSTRIAL MOTION 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 ALTRA INDUSTRIAL MOTION.
- TUITION REIMBURSEMENT: ALTRA INDUSTRIAL MOTION has a good 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 | ALTRA INDUSTRIAL MOTION | 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
ALTRA INDUSTRIAL MOTION 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 ALTRA INDUSTRIAL MOTION's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: ALTRA INDUSTRIAL MOTION is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why ALTRA INDUSTRIAL MOTION implemented a great 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 great counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at ALTRA INDUSTRIAL MOTION have a remarkable dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. ALTRA INDUSTRIAL MOTION partially pays for dentures and braces as well.
- HEALTH INSURANCE: ALTRA INDUSTRIAL MOTION offers a remarkable health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: ALTRA INDUSTRIAL MOTION offers its team members top-notch 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. ALTRA INDUSTRIAL MOTION provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: ALTRA INDUSTRIAL MOTION has a remarkable 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: ALTRA INDUSTRIAL MOTION 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: ALTRA INDUSTRIAL MOTION has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. ALTRA INDUSTRIAL MOTION covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: ALTRA INDUSTRIAL MOTION has an impressive 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 | ALTRA INDUSTRIAL MOTION | 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
ALTRA INDUSTRIAL MOTION 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: ALTRA INDUSTRIAL MOTION knows how important it is to think about retirement and start saving on time. That's why it offers a valuable 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 ALTRA INDUSTRIAL MOTION 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, ALTRA INDUSTRIAL MOTION provides resources which will help team members decide what to do with their 401(k) plan. ALTRA INDUSTRIAL MOTION offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: ALTRA INDUSTRIAL MOTION does not offer adoption assistance reimbursement.
- BONUS PAY: ALTRA INDUSTRIAL MOTION offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for ALTRA INDUSTRIAL MOTION, and encourage others to do the same.
- CHILDCARE DISCOUNT: ALTRA INDUSTRIAL MOTION does not offer childcare discount.
- COMMUTER BENEFIT: ALTRA INDUSTRIAL MOTION 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: ALTRA INDUSTRIAL MOTION offers a first-class 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: ALTRA INDUSTRIAL MOTION has an exceptional 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: ALTRA INDUSTRIAL MOTION offers a valuable life insurance policy to its team members for an affordable price. ALTRA INDUSTRIAL MOTION 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: ALTRA INDUSTRIAL MOTION realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why ALTRA INDUSTRIAL MOTION has a first-class vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: ALTRA INDUSTRIAL MOTION has a superior volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, ALTRA INDUSTRIAL MOTION stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: ALTRA INDUSTRIAL MOTION has an extraordinary parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | ALTRA INDUSTRIAL MOTION | 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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