This report analyzes and compares BANANA REPUBLIC's employee health insurance and employee benefits with its industry and in California 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
BANANA REPUBLIC 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 BANANA REPUBLIC. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BANANA REPUBLIC offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, BANANA REPUBLIC makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: BANANA REPUBLIC offers top-notch coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: impressive development resources are what allows BANANA REPUBLIC to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in impressive workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: BANANA REPUBLIC has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: BANANA REPUBLIC does not offer leadership programs.
- ONBOARDING: BANANA REPUBLIC offers a remarkable 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: Aware of the fact that its team members work hard, BANANA REPUBLIC implemented a valuable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: BANANA REPUBLIC realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | BANANA REPUBLIC | Industry | California |
|---|---|---|---|
| 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
BANANA REPUBLIC 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 BANANA REPUBLIC's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BANANA REPUBLIC wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb 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: BANANA REPUBLIC offers a great 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: BANANA REPUBLIC offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BANANA REPUBLIC is aware of the fact that a healthy employee is a productive employee so it offers outstanding 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: To financially help its team members with medical emergencies, BANANA REPUBLIC offers a valuable 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: BANANA REPUBLIC 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: BANANA REPUBLIC does not offer telehealth.
- VISION PLAN: BANANA REPUBLIC 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 | BANANA REPUBLIC | Industry | California |
|---|---|---|---|
| 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
Team members enjoy valuable financial benefits at BANANA REPUBLIC. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. BANANA REPUBLIC offers valuable life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect BANANA REPUBLIC to partially cover the expenses.
- 401(K) PLAN: BANANA REPUBLIC 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. BANANA REPUBLIC 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 BANANA REPUBLIC has Matching program that matches 75% of employees' contributions. Whatever BANANA REPUBLIC contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave BANANA REPUBLIC. Recognizing that every team member is unique, with specific needs and goals, BANANA REPUBLIC keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: BANANA REPUBLIC does not offer adoption assistance reimbursement.
- BONUS PAY: BANANA REPUBLIC 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: BANANA REPUBLIC cooperates with partners and team members are eligible for superior discounts for a primary childcare.
- COMMUTER BENEFIT: BANANA REPUBLIC has a good 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: BANANA REPUBLIC has a good daycare spending account that fills from each paycheck before taxes. This allows team members to partially cover costs of daycare while they are at work.
- DISABILITY: BANANA REPUBLIC offers a superb 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: BANANA REPUBLIC 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: BANANA REPUBLIC realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why BANANA REPUBLIC has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: BANANA REPUBLIC recognizes the importance of giving back to the community so it offers a great volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by BANANA REPUBLIC, on volunteer work of their choice.
- PARENTAL LEAVE: BANANA REPUBLIC has a remarkable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BANANA REPUBLIC | Industry | California |
|---|---|---|---|
| 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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