This report analyzes and compares BANK OF THE OZARKS' employee health insurance and employee benefits with its industry and in Arkansas 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
BANK OF THE OZARKS has first-class 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 BANK OF THE OZARKS. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BANK OF THE OZARKS believes that career planning of each employee is a key to a successful business and offers solid opportunities so that the employees can reach their full potential. BANK OF THE OZARKS has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: BANK OF THE OZARKS does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: BANK OF THE OZARKS encourages its team members to work on their existing skills and gain new ones continually. By providing solid development resources, BANK OF THE OZARKS supports their team members on their journey to perfection. Employees have a wide range of solid resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: BANK OF THE OZARKS has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: BANK OF THE OZARKS believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that BANK OF THE OZARKS provides for them, employees are able to learn what makes or breaks a leader.
- 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 BANK OF THE OZARKS offers an outstanding Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: BANK OF THE OZARKS 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 BANK OF THE OZARKS.
- TUITION REIMBURSEMENT: BANK OF THE OZARKS 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 | BANK OF THE OZARKS | Industry | Arkansas |
|---|---|---|---|
| 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
BANK OF THE OZARKS has great health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers great dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a great healthcare spending account at their disposal.
- COUNSELING: BANK OF THE OZARKS has an outstanding counseling program for its employees and their family members. Team members are encouraged by BANK OF THE OZARKS 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 outstanding counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: BANK OF THE OZARKS 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: BANK OF THE OZARKS offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BANK OF THE OZARKS does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: BANK OF THE OZARKS offers an impressive healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: BANK OF THE OZARKS has a great maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: BANK OF THE OZARKS does not offer telehealth.
- VISION PLAN: BANK OF THE OZARKS provides a remarkable Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
Benefit | BANK OF THE OZARKS | Industry | Arkansas |
|---|---|---|---|
| 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
BANK OF THE OZARKS 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: BANK OF THE OZARKS has an outstanding 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, BANK OF THE OZARKS offers an outstanding 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, BANK OF THE OZARKS offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: BANK OF THE OZARKS has a superb Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by BANK OF THE OZARKS.
- BONUS PAY: BANK OF THE OZARKS has a great 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: BANK OF THE OZARKS has an excellent childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: BANK OF THE OZARKS has a suitable 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: BANK OF THE OZARKS has a suitable 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: BANK OF THE OZARKS offers a first-class 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: BANK OF THE OZARKS offers a solid life insurance policy to its team members for an affordable price. BANK OF THE OZARKS 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: BANK OF THE OZARKS has an exceptional 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: BANK OF THE OZARKS does not offer paid volunteer time off.
- PARENTAL LEAVE: BANK OF THE OZARKS has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BANK OF THE OZARKS | Industry | Arkansas |
|---|---|---|---|
| 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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