This report analyzes and compares MICHAEL KORS HOLDINGS' employee health insurance and employee benefits with its industry and in California 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
MICHAEL KORS HOLDINGS 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 MICHAEL KORS HOLDINGS. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MICHAEL KORS HOLDINGS believes that career planning of each employee is a key to a successful business and offers solid opportunities so that the employees can reach their full potential. MICHAEL KORS HOLDINGS has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: MICHAEL KORS HOLDINGS believes that an excellent coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: excellent development resources are what allows MICHAEL KORS HOLDINGS to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in excellent workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: MICHAEL KORS HOLDINGS has a solid GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: MICHAEL KORS HOLDINGS offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by MICHAEL KORS HOLDINGS to grow as leaders and learn how to make tough calls.
- 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 MICHAEL KORS HOLDINGS offers an exceptional Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: MICHAEL KORS HOLDINGS has a superb 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: MICHAEL KORS HOLDINGS has a suitable 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 | MICHAEL KORS HOLDINGS | Industry | California |
|---|---|---|---|
| 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
MICHAEL KORS HOLDINGS 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 MICHAEL KORS HOLDINGS's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: MICHAEL KORS HOLDINGS 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: MICHAEL KORS HOLDINGS offers a valuable 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: MICHAEL KORS HOLDINGS offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: MICHAEL KORS HOLDINGS offers its team members remarkable health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. MICHAEL KORS HOLDINGS provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: MICHAEL KORS HOLDINGS has a superior 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: MICHAEL KORS HOLDINGS offers an impressive maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: MICHAEL KORS HOLDINGS has an extraordinary 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: MICHAEL KORS HOLDINGS 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 | MICHAEL KORS HOLDINGS | Industry | California |
|---|---|---|---|
| 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
MICHAEL KORS HOLDINGS 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: MICHAEL KORS HOLDINGS does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: MICHAEL KORS HOLDINGS 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: MICHAEL KORS HOLDINGS has an impressive 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: MICHAEL KORS HOLDINGS offers a great discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: MICHAEL KORS HOLDINGS has a good 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: MICHAEL KORS HOLDINGS has a valuable 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: MICHAEL KORS HOLDINGS offers a superior 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: MICHAEL KORS HOLDINGS 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: MICHAEL KORS HOLDINGS has an extraordinary 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: MICHAEL KORS HOLDINGS believes that impressive volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why MICHAEL KORS HOLDINGS offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: MICHAEL KORS HOLDINGS has a valuable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MICHAEL KORS HOLDINGS | Industry | California |
|---|---|---|---|
| 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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