This report analyzes and compares EV3's employee health insurance and employee benefits with its industry and in Minnesota 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
EV3 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 EV3. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: EV3 continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that EV3 uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: EV3 offers top-notch coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: EV3 encourages its team members to work on their existing skills and gain new ones continually. By providing good development resources, EV3 supports their team members on their journey to perfection. Employees have a wide range of good resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: EV3 has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: EV3 does not offer leadership programs.
- ONBOARDING: EV3 offers a first-class Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: EV3 has a remarkable 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: EV3 has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at EV3.
Benefit | EV3 | Industry | Minnesota |
|---|---|---|---|
| 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
EV3 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 EV3's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: EV3 wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: EV3 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: EV3 provides an excellent health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: EV3 does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: EV3 has a superb 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: EV3 offers an outstanding maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: EV3 does not offer telehealth.
- VISION PLAN: EV3 provides a superior 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 | EV3 | Industry | Minnesota |
|---|---|---|---|
| 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
EV3 offers superior financial benefits for employees and their family members. A superior 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: EV3 has a remarkable 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. EV3 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 remarkable EV3 has Matching program that matches 75% of employees' contributions. Whatever EV3 contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave EV3. Recognizing that every team member is unique, with specific needs and goals, EV3 keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: EV3 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 EV3.
- BONUS PAY: EV3 offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for EV3, and encourage others to do the same.
- CHILDCARE DISCOUNT: EV3 has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: EV3 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: EV3 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: EV3 offers a superior 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: EV3 offers an impressive 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 impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: EV3 realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why EV3 has a first-class vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: EV3 recognizes the importance of giving back to the community so it offers a good volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by EV3, on volunteer work of their choice.
- PARENTAL LEAVE: EV3 has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | EV3 | Industry | Minnesota |
|---|---|---|---|
| 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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