This report analyzes and compares BARNEYS NEW YORK's employee health insurance and employee benefits with its industry and in New York 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
BARNEYS NEW YORK 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 BARNEYS NEW YORK. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BARNEYS NEW YORK offers superb possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, BARNEYS NEW YORK makes sure that every single team member takes the full advantage of superb career planning programs.
- COACHING AND MENTORING: By using a suitable coaching and mentoring program, BARNEYS NEW YORK can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows BARNEYS NEW YORK to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in exceptional workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: BARNEYS NEW YORK has an outstanding GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: BARNEYS NEW YORK is always on the lookout for new leadership material and offers solid development programs for its team members. With access to solid resources, BARNEYS NEW YORK ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: BARNEYS NEW YORK does not offer onboarding.
- RECOGNITION PROGRAMS: BARNEYS NEW YORK 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 BARNEYS NEW YORK.
- TUITION REIMBURSEMENT: BARNEYS NEW YORK 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 | BARNEYS NEW YORK | Industry | New York |
|---|---|---|---|
| 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
BARNEYS NEW YORK offers first-class 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 BARNEYS NEW YORK's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BARNEYS NEW YORK does not offer counseling.
- DENTAL PLAN: Team members at BARNEYS NEW YORK have a superior dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. BARNEYS NEW YORK partially pays for dentures and braces as well.
- HEALTH INSURANCE: BARNEYS NEW YORK offers a valuable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BARNEYS NEW YORK 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, BARNEYS NEW YORK offers a great 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: Aware of the challenges that come with pregnancy, BARNEYS NEW YORK has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: BARNEYS NEW YORK has implemented a superb telehealth policy for its members to use any time of the day, every single day. BARNEYS NEW YORK covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: BARNEYS NEW YORK offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | BARNEYS NEW YORK | Industry | New York |
|---|---|---|---|
| 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
BARNEYS NEW YORK 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: BARNEYS NEW YORK knows how important it is to think about retirement and start saving on time. That's why it offers a suitable 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 BARNEYS NEW YORK 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, BARNEYS NEW YORK provides resources which will help team members decide what to do with their 401(k) plan. BARNEYS NEW YORK offers a suitable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: BARNEYS NEW YORK does not offer adoption assistance reimbursement.
- BONUS PAY: BARNEYS NEW YORK 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: BARNEYS NEW YORK offers a suitable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: BARNEYS NEW YORK offers extraordinary commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: BARNEYS NEW YORK offers an excellent 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: BARNEYS NEW YORK offers a top-notch 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: BARNEYS NEW YORK offers an excellent 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 excellent life insurance package contains dependent policies as well.
- PAID TIME OFF: BARNEYS NEW YORK has an excellent 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: BARNEYS NEW YORK believes that impressive volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why BARNEYS NEW YORK offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: BARNEYS NEW YORK has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BARNEYS NEW YORK | Industry | New York |
|---|---|---|---|
| 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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