This report analyzes and compares BANC OF CALIFORNIA'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
BANC OF CALIFORNIA offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. BANC OF CALIFORNIA believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: BANC OF CALIFORNIA believes that career planning of each employee is a key to a successful business and offers great opportunities so that the employees can reach their full potential. BANC OF CALIFORNIA has great resources at its disposal to achieve this goal.
- COACHING AND MENTORING: BANC OF CALIFORNIA does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: impressive development resources are what allows BANC OF CALIFORNIA 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: BANC OF CALIFORNIA does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: BANC OF CALIFORNIA believes that providing its team members with outstanding leadership programs is a crucial step in creating new leaders. By using outstanding tools that BANC OF CALIFORNIA provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: BANC OF CALIFORNIA does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, BANC OF CALIFORNIA implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: BANC OF CALIFORNIA has a solid 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 | BANC OF CALIFORNIA | 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
BANC OF CALIFORNIA offers superior 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 BANC OF CALIFORNIA's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BANC OF CALIFORNIA is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why BANC OF CALIFORNIA implemented a valuable 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 valuable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at BANC OF CALIFORNIA have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. BANC OF CALIFORNIA partially pays for dentures and braces as well.
- HEALTH INSURANCE: BANC OF CALIFORNIA provides an impressive health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: BANC OF CALIFORNIA is aware of the fact that a healthy employee is a productive employee so it offers extraordinary 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, BANC OF CALIFORNIA 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: BANC OF CALIFORNIA offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: BANC OF CALIFORNIA has implemented a superior telehealth policy for its members to use any time of the day, every single day. BANC OF CALIFORNIA covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: BANC OF CALIFORNIA 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 | BANC OF CALIFORNIA | 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
BANC OF CALIFORNIA offers superior financial benefits for employees and their family members. A superior 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: BANC OF CALIFORNIA has an exceptional 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, BANC OF CALIFORNIA offers an exceptional program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, BANC OF CALIFORNIA offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: BANC OF CALIFORNIA does not offer adoption assistance reimbursement.
- BONUS PAY: BANC OF CALIFORNIA offers top-notch bonuses to team members who excel in their field of work, provide extraordinary results for BANC OF CALIFORNIA, and encourage others to do the same.
- CHILDCARE DISCOUNT: BANC OF CALIFORNIA does not offer childcare discount.
- COMMUTER BENEFIT: BANC OF CALIFORNIA acknowledges the fact that some team members have high commuting costs so it offers them remarkable commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: BANC OF CALIFORNIA offers a superior 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: BANC OF CALIFORNIA 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: BANC OF CALIFORNIA offers an exceptional life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This exceptional life insurance package contains dependent policies as well.
- PAID TIME OFF: BANC OF CALIFORNIA has an extraordinary 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: BANC OF CALIFORNIA believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why BANC OF CALIFORNIA offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: BANC OF CALIFORNIA has a suitable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BANC OF CALIFORNIA | 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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