This report analyzes and compares CADENCE DESIGN SYSTEMS' 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
CADENCE DESIGN SYSTEMS has superb 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 CADENCE DESIGN SYSTEMS. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: CADENCE DESIGN SYSTEMS offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, CADENCE DESIGN SYSTEMS makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: CADENCE DESIGN SYSTEMS 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: exceptional development resources are what allows CADENCE DESIGN SYSTEMS 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: CADENCE DESIGN SYSTEMS has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: CADENCE DESIGN SYSTEMS is always on the lookout for new leadership material and offers great development programs for its team members. With access to great resources, CADENCE DESIGN SYSTEMS ensures that team members with a potential for becoming leaders can achieve their goals.
- 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 CADENCE DESIGN SYSTEMS offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, CADENCE DESIGN SYSTEMS implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: CADENCE DESIGN SYSTEMS does not offer tuition reimbursement.
Benefit | CADENCE DESIGN SYSTEMS | 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
CADENCE DESIGN SYSTEMS offers superb 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 CADENCE DESIGN SYSTEMS's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: CADENCE DESIGN SYSTEMS is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why CADENCE DESIGN SYSTEMS implemented a solid 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 solid counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: CADENCE DESIGN SYSTEMS cares about its team members' dental health so it offers an extraordinary dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: CADENCE DESIGN SYSTEMS offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, CADENCE DESIGN SYSTEMS offers great health plan incentives for its employees. Employees have at their disposal various resources through which they can learn about their health and how to improve it.
- HEALTHCARE SPENDING ACCOUNTS: CADENCE DESIGN SYSTEMS has a remarkable healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, CADENCE DESIGN SYSTEMS has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: CADENCE DESIGN SYSTEMS has implemented a remarkable telehealth policy for its members to use any time of the day, every single day. CADENCE DESIGN SYSTEMS covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: CADENCE DESIGN SYSTEMS provides a first-class 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 | CADENCE DESIGN SYSTEMS | 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
CADENCE DESIGN SYSTEMS offers remarkable financial benefits for employees and their family members. A remarkable 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: CADENCE DESIGN SYSTEMS has a first-class 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. CADENCE DESIGN SYSTEMS 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 first-class CADENCE DESIGN SYSTEMS has Matching program that matches 75% of employees' contributions. Whatever CADENCE DESIGN SYSTEMS contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave CADENCE DESIGN SYSTEMS. Recognizing that every team member is unique, with specific needs and goals, CADENCE DESIGN SYSTEMS keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: CADENCE DESIGN SYSTEMS has a superior 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 CADENCE DESIGN SYSTEMS.
- BONUS PAY: CADENCE DESIGN SYSTEMS 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: CADENCE DESIGN SYSTEMS cooperates with partners and team members are eligible for top-notch discounts for a primary childcare.
- COMMUTER BENEFIT: CADENCE DESIGN SYSTEMS offers outstanding 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: CADENCE DESIGN SYSTEMS offers an outstanding 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: CADENCE DESIGN SYSTEMS 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: CADENCE DESIGN SYSTEMS has a superb 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: CADENCE DESIGN SYSTEMS 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: CADENCE DESIGN SYSTEMS has a first-class volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, CADENCE DESIGN SYSTEMS stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: CADENCE DESIGN SYSTEMS has an impressive parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | CADENCE DESIGN SYSTEMS | 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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