This report analyzes and compares AVID TECHNOLOGY'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
AVID TECHNOLOGY 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 AVID TECHNOLOGY. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: AVID TECHNOLOGY 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. AVID TECHNOLOGY has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, AVID TECHNOLOGY can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: excellent development resources are what allows AVID TECHNOLOGY 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: AVID TECHNOLOGY has a suitable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: AVID TECHNOLOGY does not offer leadership programs.
- 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 AVID TECHNOLOGY offers an outstanding Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: AVID TECHNOLOGY 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 AVID TECHNOLOGY.
- TUITION REIMBURSEMENT: AVID TECHNOLOGY has a suitable 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 | AVID TECHNOLOGY | 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
AVID TECHNOLOGY 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 AVID TECHNOLOGY's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: AVID TECHNOLOGY wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its top-notch counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: AVID TECHNOLOGY offers a good 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: AVID TECHNOLOGY 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: AVID TECHNOLOGY is aware of the fact that a healthy employee is a productive employee so it offers exceptional health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: AVID TECHNOLOGY has a top-notch 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: AVID TECHNOLOGY offers an exceptional maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: AVID TECHNOLOGY does not offer telehealth.
- VISION PLAN: AVID TECHNOLOGY 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 | AVID TECHNOLOGY | 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
AVID TECHNOLOGY 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: AVID TECHNOLOGY has a superior 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. AVID TECHNOLOGY provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a superior AVID TECHNOLOGY has Matching program that matches 75% of employees' contributions. Whatever AVID TECHNOLOGY contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave AVID TECHNOLOGY. Recognizing that every team member is unique, with specific needs and goals, AVID TECHNOLOGY keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: AVID TECHNOLOGY has a suitable Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: AVID TECHNOLOGY offers superb bonuses to team members who excel in their field of work, provide extraordinary results for AVID TECHNOLOGY, and encourage others to do the same.
- CHILDCARE DISCOUNT: AVID TECHNOLOGY offers a solid discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: AVID TECHNOLOGY acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: AVID TECHNOLOGY offers an extraordinary 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: AVID TECHNOLOGY has an excellent 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: AVID TECHNOLOGY offers a great life insurance policy to its team members for an affordable price. AVID TECHNOLOGY 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: AVID TECHNOLOGY realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why AVID TECHNOLOGY has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: AVID TECHNOLOGY has a top-notch volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, AVID TECHNOLOGY stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: AVID TECHNOLOGY has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | AVID TECHNOLOGY | 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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