This report analyzes and compares LENSCRAFTERS' employee health insurance and employee benefits with its industry and in Ohio 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
LENSCRAFTERS has first-class 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 LENSCRAFTERS. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: LENSCRAFTERS offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, LENSCRAFTERS makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: By using a solid coaching and mentoring program, LENSCRAFTERS can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: impressive development resources are what allows LENSCRAFTERS 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: LENSCRAFTERS has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: LENSCRAFTERS offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by LENSCRAFTERS to grow as leaders and learn how to make tough calls.
- ONBOARDING: LENSCRAFTERS does not offer onboarding.
- RECOGNITION PROGRAMS: LENSCRAFTERS knows that dedicated team members are hard to come by so it has an exceptional Recognition program for those who stand out and continually contribute to LENSCRAFTERS.
- TUITION REIMBURSEMENT: LENSCRAFTERS has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at LENSCRAFTERS.
Benefit | LENSCRAFTERS | Industry | Ohio |
|---|---|---|---|
| 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
LENSCRAFTERS offers superb 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 LENSCRAFTERS's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: LENSCRAFTERS wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: Team members at LENSCRAFTERS have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. LENSCRAFTERS partially pays for dentures and braces as well.
- HEALTH INSURANCE: LENSCRAFTERS provides an excellent health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: LENSCRAFTERS is aware of the fact that a healthy employee is a productive employee so it offers impressive 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: LENSCRAFTERS has a remarkable healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.
- MATERNITY SUPPORT PROGRAM: LENSCRAFTERS 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: LENSCRAFTERS has a solid 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. LENSCRAFTERS can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: LENSCRAFTERS provides a top-notch 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 | LENSCRAFTERS | Industry | Ohio |
|---|---|---|---|
| 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
LENSCRAFTERS 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: LENSCRAFTERS has a top-notch 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. LENSCRAFTERS 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 top-notch LENSCRAFTERS has Matching program that matches 75% of employees' contributions. Whatever LENSCRAFTERS contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave LENSCRAFTERS. Recognizing that every team member is unique, with specific needs and goals, LENSCRAFTERS keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: LENSCRAFTERS has a valuable Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: LENSCRAFTERS has an outstanding bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.
- CHILDCARE DISCOUNT: LENSCRAFTERS offers a suitable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: LENSCRAFTERS 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: LENSCRAFTERS offers a top-notch daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
- DISABILITY: LENSCRAFTERS 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: LENSCRAFTERS offers an impressive 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 impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: LENSCRAFTERS wants for its team members to lead a happy and fulfilled life so it has a good 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: LENSCRAFTERS has a first-class volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, LENSCRAFTERS stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: LENSCRAFTERS has a remarkable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | LENSCRAFTERS | Industry | Ohio |
|---|---|---|---|
| 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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