This report analyzes and compares HANOVER DIRECT's employee health insurance and employee benefits with its industry and in New Jersey 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
HANOVER DIRECT 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 HANOVER DIRECT. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: HANOVER DIRECT offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, HANOVER DIRECT makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: HANOVER DIRECT does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: HANOVER DIRECT encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, HANOVER DIRECT supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: HANOVER DIRECT has an excellent GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: HANOVER DIRECT believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that HANOVER DIRECT provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: HANOVER DIRECT is aware of the difficulties that new employees might experience when they join the team. That's why HANOVER DIRECT has a good Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, HANOVER DIRECT implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: HANOVER DIRECT realizes that continuous education is a key to success so it has an excellent Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | HANOVER DIRECT | Industry | New Jersey |
|---|---|---|---|
| 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
HANOVER DIRECT offers remarkable 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 HANOVER DIRECT's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: HANOVER DIRECT has an impressive counseling program for its employees and their family members. Team members are encouraged by HANOVER DIRECT 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 impressive counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at HANOVER DIRECT have a superior dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. HANOVER DIRECT partially pays for dentures and braces as well.
- HEALTH INSURANCE: HANOVER DIRECT offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: HANOVER DIRECT does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: HANOVER DIRECT offers an excellent 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, HANOVER DIRECT has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: HANOVER DIRECT has implemented a first-class telehealth policy for its members to use any time of the day, every single day. HANOVER DIRECT covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: HANOVER DIRECT has an exceptional 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 | HANOVER DIRECT | Industry | New Jersey |
|---|---|---|---|
| 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 good financial benefits at HANOVER DIRECT. 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. HANOVER DIRECT offers good life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect HANOVER DIRECT to partially cover the expenses.
- 401(K) PLAN: HANOVER DIRECT knows how important it is to think about retirement and start saving on time. That's why it offers a great 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 HANOVER DIRECT 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, HANOVER DIRECT provides resources which will help team members decide what to do with their 401(k) plan. HANOVER DIRECT offers a great vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: HANOVER DIRECT has a superb 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 HANOVER DIRECT.
- BONUS PAY: HANOVER DIRECT has a good 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: HANOVER DIRECT does not offer childcare discount.
- COMMUTER BENEFIT: HANOVER DIRECT offers extraordinary 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: HANOVER DIRECT has a suitable 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: HANOVER DIRECT has a good 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 good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: HANOVER DIRECT offers a great life insurance policy to its team members for an affordable price. HANOVER DIRECT 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: HANOVER DIRECT realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why HANOVER DIRECT has a top-notch vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: HANOVER DIRECT believes that extraordinary volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why HANOVER DIRECT offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: HANOVER DIRECT has a valuable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | HANOVER DIRECT | Industry | New Jersey |
|---|---|---|---|
| 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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