This report analyzes and compares GATX CORP's employee health insurance and employee benefits with its industry and in Illinois 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
GATX CORP 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 GATX CORP. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: GATX CORP continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that GATX CORP uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: By using a valuable coaching and mentoring program, GATX CORP can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: GATX CORP encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, GATX CORP supports their team members on their journey to perfection. Employees have a wide range of valuable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: GATX CORP has an outstanding GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: GATX CORP is always on the lookout for new leadership material and offers good development programs for its team members. With access to good resources, GATX CORP ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: GATX CORP does not offer onboarding.
- RECOGNITION PROGRAMS: GATX CORP knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to GATX CORP.
- TUITION REIMBURSEMENT: GATX CORP does not offer tuition reimbursement.
Benefit | GATX CORP | Industry | Illinois |
|---|---|---|---|
| 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
GATX CORP has solid health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers solid dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a solid healthcare spending account at their disposal.
- COUNSELING: GATX CORP is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why GATX CORP 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: GATX CORP 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: GATX CORP offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: GATX CORP offers its team members top-notch 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. GATX CORP provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, GATX CORP offers a valuable healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: GATX CORP has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: GATX CORP 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: GATX CORP offers a great Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | GATX CORP | Industry | Illinois |
|---|---|---|---|
| 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
GATX CORP 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: GATX CORP 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. GATX CORP 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 GATX CORP has Matching program that matches 75% of employees' contributions. Whatever GATX CORP contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave GATX CORP. Recognizing that every team member is unique, with specific needs and goals, GATX CORP keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: GATX CORP has an impressive Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: GATX CORP offers superb bonuses to team members who excel in their field of work, provide extraordinary results for GATX CORP, and encourage others to do the same.
- CHILDCARE DISCOUNT: GATX CORP has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: GATX CORP has a solid 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: GATX CORP 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: GATX CORP has a great 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 great coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: GATX CORP has a top-notch 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: GATX CORP has an extraordinary 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: GATX CORP believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why GATX CORP offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: GATX CORP has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | GATX CORP | Industry | Illinois |
|---|---|---|---|
| 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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