This report analyzes and compares KENNAMETAL's employee health insurance and employee benefits with its industry and in Pennsylvania 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
KENNAMETAL has superb 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 KENNAMETAL. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: KENNAMETAL believes that career planning of each employee is a key to a successful business and offers great opportunities so that the employees can reach their full potential. KENNAMETAL has great resources at its disposal to achieve this goal.
- COACHING AND MENTORING: KENNAMETAL 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: extraordinary development resources are what allows KENNAMETAL to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in extraordinary workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: KENNAMETAL has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: KENNAMETAL is always on the lookout for new leadership material and offers good development programs for its team members. With access to good resources, KENNAMETAL ensures that team members with a potential for becoming leaders can achieve their goals.
- 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 KENNAMETAL offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: KENNAMETAL 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: KENNAMETAL has a great Tuition Reimbursement Program and participates with up to 25% of the costs for team members who want a job-related certificate or a degree.
Benefit | KENNAMETAL | Industry | Pennsylvania |
|---|---|---|---|
| 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
KENNAMETAL 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 KENNAMETAL's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: KENNAMETAL has an excellent counseling program for its employees and their family members. Team members are encouraged by KENNAMETAL 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 excellent 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 KENNAMETAL have a remarkable dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. KENNAMETAL partially pays for dentures and braces as well.
- HEALTH INSURANCE: KENNAMETAL offers a suitable 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, KENNAMETAL 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: KENNAMETAL 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: KENNAMETAL has a suitable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: KENNAMETAL has an outstanding 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: KENNAMETAL 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 | KENNAMETAL | Industry | Pennsylvania |
|---|---|---|---|
| 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
KENNAMETAL 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: KENNAMETAL 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 KENNAMETAL 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, KENNAMETAL provides resources which will help team members decide what to do with their 401(k) plan. KENNAMETAL offers a great vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: KENNAMETAL 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 KENNAMETAL.
- BONUS PAY: KENNAMETAL has a valuable 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: KENNAMETAL has an outstanding childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: KENNAMETAL 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: KENNAMETAL offers an impressive 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: KENNAMETAL has a valuable 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 valuable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: KENNAMETAL offers an exceptional 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 exceptional life insurance package contains dependent policies as well.
- PAID TIME OFF: KENNAMETAL has an exceptional 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: KENNAMETAL has a top-notch volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, KENNAMETAL stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: KENNAMETAL has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | KENNAMETAL | Industry | Pennsylvania |
|---|---|---|---|
| 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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