This report analyzes and compares BORGWARNER's employee health insurance and employee benefits with its industry and in Michigan 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
BORGWARNER offers good career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. BORGWARNER believes that every employee has a valuable set of skills so it helps them plan their careers with good developmental resources and mentorships.
- CAREER PLANNING: BORGWARNER continually evaluates its team members to determine the potential and direction of employees' careers. The exceptional tools that BORGWARNER uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: BORGWARNER offers superior coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: BORGWARNER offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: BORGWARNER does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: BORGWARNER is always on the lookout for new leadership material and offers solid development programs for its team members. With access to solid resources, BORGWARNER ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: BORGWARNER does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, BORGWARNER implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: BORGWARNER has a superior Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at BORGWARNER.
Benefit | BORGWARNER | Industry | Michigan |
|---|---|---|---|
| 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
BORGWARNER 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 BORGWARNER's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BORGWARNER has an exceptional counseling program for its employees and their family members. Team members are encouraged by BORGWARNER 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 exceptional counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at BORGWARNER have a top-notch dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. BORGWARNER partially pays for dentures and braces as well.
- HEALTH INSURANCE: BORGWARNER offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BORGWARNER offers its team members first-class health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. BORGWARNER provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: BORGWARNER 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: Aware of the challenges that come with pregnancy, BORGWARNER has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: BORGWARNER 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: BORGWARNER provides a top-notch 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 | BORGWARNER | Industry | Michigan |
|---|---|---|---|
| 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
BORGWARNER offers top-notch financial benefits for employees and their family members. A top-notch 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: BORGWARNER does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: BORGWARNER has a great Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: BORGWARNER 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: BORGWARNER has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: BORGWARNER has a valuable 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: BORGWARNER offers a remarkable 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: BORGWARNER has a suitable disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: BORGWARNER has a first-class 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: BORGWARNER has an impressive 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: BORGWARNER does not offer paid volunteer time off.
- PARENTAL LEAVE: BORGWARNER has an excellent parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BORGWARNER | Industry | Michigan |
|---|---|---|---|
| 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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