This report analyzes and compares MEMPHIS LIGHT GAS & WATER's employee health insurance and employee benefits with its industry and in Tennessee 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
MEMPHIS LIGHT GAS & WATER 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 MEMPHIS LIGHT GAS & WATER. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MEMPHIS LIGHT GAS & WATER continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that MEMPHIS LIGHT GAS & WATER uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: MEMPHIS LIGHT GAS & WATER believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows MEMPHIS LIGHT GAS & WATER to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in exceptional workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: MEMPHIS LIGHT GAS & WATER has a suitable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: MEMPHIS LIGHT GAS & WATER does not offer leadership programs.
- 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 MEMPHIS LIGHT GAS & WATER offers an extraordinary Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, MEMPHIS LIGHT GAS & WATER implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: MEMPHIS LIGHT GAS & WATER 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 | MEMPHIS LIGHT GAS & WATER | Industry | Tennessee |
|---|---|---|---|
| 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
MEMPHIS LIGHT GAS & WATER has suitable health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers suitable 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 suitable healthcare spending account at their disposal.
- COUNSELING: MEMPHIS LIGHT GAS & WATER is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why MEMPHIS LIGHT GAS & WATER implemented a great 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 great counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: MEMPHIS LIGHT GAS & WATER offers a great 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: MEMPHIS LIGHT GAS & WATER offers a superior health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, MEMPHIS LIGHT GAS & WATER offers solid 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: MEMPHIS LIGHT GAS & WATER has a top-notch 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: Aware of the challenges that come with pregnancy, MEMPHIS LIGHT GAS & WATER has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: MEMPHIS LIGHT GAS & WATER has a great 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. MEMPHIS LIGHT GAS & WATER can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: MEMPHIS LIGHT GAS & WATER offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | MEMPHIS LIGHT GAS & WATER | Industry | Tennessee |
|---|---|---|---|
| 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
MEMPHIS LIGHT GAS & WATER offers first-class financial benefits for employees and their family members. A first-class 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: MEMPHIS LIGHT GAS & WATER 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 MEMPHIS LIGHT GAS & WATER 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, MEMPHIS LIGHT GAS & WATER provides resources which will help team members decide what to do with their 401(k) plan. MEMPHIS LIGHT GAS & WATER offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: MEMPHIS LIGHT GAS & WATER 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 MEMPHIS LIGHT GAS & WATER.
- BONUS PAY: MEMPHIS LIGHT GAS & WATER has an exceptional 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: MEMPHIS LIGHT GAS & WATER offers a good discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: MEMPHIS LIGHT GAS & WATER acknowledges the fact that some team members have high commuting costs so it offers them top-notch commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: MEMPHIS LIGHT GAS & WATER offers an extraordinary 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: MEMPHIS LIGHT GAS & WATER has a suitable 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 suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: MEMPHIS LIGHT GAS & WATER offers a valuable life insurance policy to its team members for an affordable price. MEMPHIS LIGHT GAS & WATER 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: MEMPHIS LIGHT GAS & WATER wants for its team members to lead a happy and fulfilled life so it has a suitable 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: MEMPHIS LIGHT GAS & WATER has a remarkable volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, MEMPHIS LIGHT GAS & WATER stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: MEMPHIS LIGHT GAS & WATER has an extraordinary parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MEMPHIS LIGHT GAS & WATER | Industry | Tennessee |
|---|---|---|---|
| 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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