This report analyzes and compares FOREVER 21's 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
FOREVER 21 has superior 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 FOREVER 21. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FOREVER 21 offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, FOREVER 21 makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: FOREVER 21 offers superb 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 FOREVER 21 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: FOREVER 21 has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: FOREVER 21 believes that providing its team members with outstanding leadership programs is a crucial step in creating new leaders. By using outstanding tools that FOREVER 21 provides for them, employees are able to learn what makes or breaks a leader.
- 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 FOREVER 21 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, FOREVER 21 implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: FOREVER 21 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 FOREVER 21.
Benefit | FOREVER 21 | 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
FOREVER 21 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 FOREVER 21's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FOREVER 21 does not offer counseling.
- DENTAL PLAN: FOREVER 21 offers a great 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: FOREVER 21 offers a solid 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, FOREVER 21 offers suitable 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: FOREVER 21 offers an extraordinary 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, FOREVER 21 has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: FOREVER 21 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: FOREVER 21 has an outstanding Vision Plan for its team members who can count on coverage of a wide variety eye exams and procedures, as well as vision-related medical devices.
Benefit | FOREVER 21 | 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
FOREVER 21 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: FOREVER 21 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. FOREVER 21 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 FOREVER 21 has Matching program that matches 75% of employees' contributions. Whatever FOREVER 21 contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave FOREVER 21. Recognizing that every team member is unique, with specific needs and goals, FOREVER 21 keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: FOREVER 21 has a first-class 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 FOREVER 21.
- BONUS PAY: FOREVER 21 offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for FOREVER 21, and encourage others to do the same.
- CHILDCARE DISCOUNT: FOREVER 21 does not offer childcare discount.
- COMMUTER BENEFIT: FOREVER 21 acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: FOREVER 21 offers an exceptional 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: FOREVER 21 has a solid 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 solid coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: FOREVER 21 offers a suitable life insurance policy to its team members for an affordable price. FOREVER 21 participates with 50% of the costs of the policy which makes it enticing for employees to buy it. Beneficiaries of team members can expect to get up to 1 year worth of employee's salary.
- PAID TIME OFF: FOREVER 21 wants for its team members to lead a happy and fulfilled life so it has a solid 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: FOREVER 21 recognizes the importance of giving back to the community so it offers a valuable volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by FOREVER 21, on volunteer work of their choice.
- PARENTAL LEAVE: FOREVER 21 has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FOREVER 21 | 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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