This report analyzes and compares CONSOLIDATED EDISON'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
CONSOLIDATED EDISON has remarkable 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 CONSOLIDATED EDISON. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: CONSOLIDATED EDISON believes that career planning of each employee is a key to a successful business and offers suitable opportunities so that the employees can reach their full potential. CONSOLIDATED EDISON has suitable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: CONSOLIDATED EDISON 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: impressive development resources are what allows CONSOLIDATED EDISON 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: CONSOLIDATED EDISON has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: CONSOLIDATED EDISON does not offer leadership programs.
- 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 CONSOLIDATED EDISON offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: CONSOLIDATED EDISON has a superior Recognition program in place and makes sure that team members who constantly achieve extraordinary results and work well with others are properly rewarded for their efforts.
- TUITION REIMBURSEMENT: CONSOLIDATED EDISON does not offer tuition reimbursement.
Benefit | CONSOLIDATED EDISON | 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
CONSOLIDATED EDISON 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 CONSOLIDATED EDISON's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: CONSOLIDATED EDISON has an outstanding counseling program for its employees and their family members. Team members are encouraged by CONSOLIDATED EDISON 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: CONSOLIDATED EDISON offers a good 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: CONSOLIDATED EDISON offers a remarkable health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: CONSOLIDATED EDISON 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: CONSOLIDATED EDISON has a top-notch 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: CONSOLIDATED EDISON offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: CONSOLIDATED EDISON does not offer telehealth.
- VISION PLAN: CONSOLIDATED EDISON 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 | CONSOLIDATED EDISON | 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
Team members enjoy great financial benefits at CONSOLIDATED EDISON. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. CONSOLIDATED EDISON offers great life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect CONSOLIDATED EDISON to partially cover the expenses.
- 401(K) PLAN: CONSOLIDATED EDISON knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 CONSOLIDATED EDISON 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, CONSOLIDATED EDISON provides resources which will help team members decide what to do with their 401(k) plan. CONSOLIDATED EDISON offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: CONSOLIDATED EDISON has a valuable 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: CONSOLIDATED EDISON offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for CONSOLIDATED EDISON, and encourage others to do the same.
- CHILDCARE DISCOUNT: CONSOLIDATED EDISON does not offer childcare discount.
- COMMUTER BENEFIT: CONSOLIDATED EDISON acknowledges the fact that some team members have high commuting costs so it offers them superb commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: CONSOLIDATED EDISON has a valuable 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: CONSOLIDATED EDISON offers a superb 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: CONSOLIDATED EDISON offers an outstanding 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 outstanding life insurance package contains dependent policies as well.
- PAID TIME OFF: CONSOLIDATED EDISON wants for its team members to lead a happy and fulfilled life so it has a great vacation policy for every employee. The number of paid vacation days depends on how long has a certain member been part of the team.
- PAID VOLUNTEER TIME OFF: CONSOLIDATED EDISON does not offer paid volunteer time off.
- PARENTAL LEAVE: CONSOLIDATED EDISON has a first-class parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | CONSOLIDATED EDISON | 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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