This report analyzes and compares LAUNCH UMD's employee health insurance and employee benefits with its industry and in Maryland 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
LAUNCH UMD 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 LAUNCH UMD. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: LAUNCH UMD offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, LAUNCH UMD makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: LAUNCH UMD believes that an exceptional coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: LAUNCH UMD encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, LAUNCH UMD 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: LAUNCH UMD has a solid GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: LAUNCH UMD believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that LAUNCH UMD provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: LAUNCH UMD does not offer onboarding.
- RECOGNITION PROGRAMS: LAUNCH UMD has a top-notch 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: LAUNCH UMD 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 LAUNCH UMD.
Benefit | LAUNCH UMD | Industry | Maryland |
|---|---|---|---|
| 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
LAUNCH UMD 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 LAUNCH UMD's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LAUNCH UMD is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why LAUNCH UMD implemented a good 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 good counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: LAUNCH UMD offers a solid 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: LAUNCH UMD offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: LAUNCH UMD is aware of the fact that a healthy employee is a productive employee so it offers exceptional health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, LAUNCH UMD offers a solid 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: LAUNCH UMD has a great maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: LAUNCH UMD has a good telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. LAUNCH UMD can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: LAUNCH UMD has an excellent 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 | LAUNCH UMD | Industry | Maryland |
|---|---|---|---|
| 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 LAUNCH UMD. 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. LAUNCH UMD offers good life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect LAUNCH UMD to partially cover the expenses.
- 401(K) PLAN: LAUNCH UMD knows how important it is to think about retirement and start saving on time. That's why it offers a solid 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 LAUNCH UMD 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, LAUNCH UMD provides resources which will help team members decide what to do with their 401(k) plan. LAUNCH UMD offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: LAUNCH UMD 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 LAUNCH UMD.
- BONUS PAY: LAUNCH UMD has a suitable 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: LAUNCH UMD offers a great discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: LAUNCH UMD offers excellent 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: LAUNCH UMD has a solid 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: LAUNCH UMD offers a remarkable 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: LAUNCH UMD offers a suitable life insurance policy to its team members for an affordable price. LAUNCH UMD 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: LAUNCH UMD wants for its team members to lead a happy and fulfilled life so it has a great 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: LAUNCH UMD 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 LAUNCH UMD, on volunteer work of their choice.
- PARENTAL LEAVE: LAUNCH UMD has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LAUNCH UMD | Industry | Maryland |
|---|---|---|---|
| 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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