This report analyzes and compares BAKER HUGHES' employee health insurance and employee benefits with its industry and in Texas 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
BAKER HUGHES 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 BAKER HUGHES. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BAKER HUGHES offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, BAKER HUGHES makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: BAKER HUGHES 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: extraordinary development resources are what allows BAKER HUGHES 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: BAKER HUGHES has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: BAKER HUGHES offers a wide variety of remarkable courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by BAKER HUGHES to grow as leaders and learn how to make tough calls.
- ONBOARDING: BAKER HUGHES is aware of the difficulties that new employees might experience when they join the team. That's why BAKER HUGHES has a good Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, BAKER HUGHES implemented a valuable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: BAKER HUGHES has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at BAKER HUGHES.
Benefit | BAKER HUGHES | Industry | Texas |
|---|---|---|---|
| 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
BAKER HUGHES 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 BAKER HUGHES's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BAKER HUGHES has an extraordinary counseling program for its employees and their family members. Team members are encouraged by BAKER HUGHES to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This extraordinary counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: BAKER HUGHES offers a solid 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: BAKER HUGHES offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BAKER HUGHES does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: BAKER HUGHES 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: BAKER HUGHES offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: BAKER HUGHES has an impressive telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: BAKER HUGHES offers a valuable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | BAKER HUGHES | Industry | Texas |
|---|---|---|---|
| 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
BAKER HUGHES offers remarkable financial benefits for employees and their family members. A remarkable 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: BAKER HUGHES knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 BAKER HUGHES 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, BAKER HUGHES provides resources which will help team members decide what to do with their 401(k) plan. BAKER HUGHES offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: BAKER HUGHES does not offer adoption assistance reimbursement.
- BONUS PAY: BAKER HUGHES has a valuable 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: BAKER HUGHES has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: BAKER HUGHES 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: BAKER HUGHES 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: BAKER HUGHES offers a remarkable 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: BAKER HUGHES has a superior life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: BAKER HUGHES 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: BAKER HUGHES believes that impressive volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why BAKER HUGHES offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: BAKER HUGHES has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BAKER HUGHES | Industry | Texas |
|---|---|---|---|
| 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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