This report analyzes and compares MIT ENERGY INITIATIVE's employee health insurance and employee benefits with its industry and in Massachusetts 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
MIT ENERGY INITIATIVE 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 MIT ENERGY INITIATIVE. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MIT ENERGY INITIATIVE offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, MIT ENERGY INITIATIVE makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: MIT ENERGY INITIATIVE offers first-class coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: MIT ENERGY INITIATIVE encourages its team members to work on their existing skills and gain new ones continually. By providing good development resources, MIT ENERGY INITIATIVE supports their team members on their journey to perfection. Employees have a wide range of good resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: MIT ENERGY INITIATIVE does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: MIT ENERGY INITIATIVE is always on the lookout for new leadership material and offers suitable development programs for its team members. With access to suitable resources, MIT ENERGY INITIATIVE 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 MIT ENERGY INITIATIVE offers an impressive 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, MIT ENERGY INITIATIVE implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: MIT ENERGY INITIATIVE realizes that continuous education is a key to success so it has an outstanding Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | MIT ENERGY INITIATIVE | Industry | Massachusetts |
|---|---|---|---|
| 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
MIT ENERGY INITIATIVE has great health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers great 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 great healthcare spending account at their disposal.
- COUNSELING: MIT ENERGY INITIATIVE is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why MIT ENERGY INITIATIVE implemented a suitable 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 suitable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at MIT ENERGY INITIATIVE 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. MIT ENERGY INITIATIVE partially pays for dentures and braces as well.
- HEALTH INSURANCE: MIT ENERGY INITIATIVE offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: MIT ENERGY INITIATIVE does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, MIT ENERGY INITIATIVE offers a good 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: MIT ENERGY INITIATIVE 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: MIT ENERGY INITIATIVE does not offer telehealth.
- VISION PLAN: MIT ENERGY INITIATIVE has an exceptional 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 | MIT ENERGY INITIATIVE | Industry | Massachusetts |
|---|---|---|---|
| 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
MIT ENERGY INITIATIVE 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: MIT ENERGY INITIATIVE has an extraordinary 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, MIT ENERGY INITIATIVE offers an extraordinary program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, MIT ENERGY INITIATIVE offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: MIT ENERGY INITIATIVE has a great 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: MIT ENERGY INITIATIVE has a good 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: MIT ENERGY INITIATIVE offers a suitable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: MIT ENERGY INITIATIVE acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: MIT ENERGY INITIATIVE 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: MIT ENERGY INITIATIVE has an exceptional disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: MIT ENERGY INITIATIVE offers a suitable life insurance policy to its team members for an affordable price. MIT ENERGY INITIATIVE 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: MIT ENERGY INITIATIVE realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why MIT ENERGY INITIATIVE has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: MIT ENERGY INITIATIVE believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why MIT ENERGY INITIATIVE offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: MIT ENERGY INITIATIVE has a valuable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MIT ENERGY INITIATIVE | Industry | Massachusetts |
|---|---|---|---|
| 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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