This report analyzes and compares MOLEX's employee health insurance and employee benefits with its industry and in Illinois 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
MOLEX has top-notch 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 MOLEX. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MOLEX continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that MOLEX uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: MOLEX does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: excellent development resources are what allows MOLEX 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: MOLEX has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: MOLEX does not offer leadership programs.
- ONBOARDING: MOLEX offers a first-class Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, MOLEX implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: MOLEX 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 MOLEX.
Benefit | MOLEX | Industry | Illinois |
|---|---|---|---|
| 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
MOLEX offers superior 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 MOLEX's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: MOLEX does not offer counseling.
- DENTAL PLAN: Team members at MOLEX have a top-notch dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. MOLEX partially pays for dentures and braces as well.
- HEALTH INSURANCE: MOLEX provides an exceptional health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, MOLEX offers good 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: To financially help its team members with medical emergencies, MOLEX offers a valuable 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: MOLEX offers an exceptional maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: MOLEX 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: MOLEX has an extraordinary 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 | MOLEX | Industry | Illinois |
|---|---|---|---|
| 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
MOLEX offers superb financial benefits for employees and their family members. A superb 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: MOLEX does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: MOLEX has a top-notch 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 MOLEX.
- BONUS PAY: MOLEX 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: MOLEX cooperates with partners and team members are eligible for superior discounts for a primary childcare.
- COMMUTER BENEFIT: MOLEX acknowledges the fact that some team members have high commuting costs so it offers them superb commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: MOLEX offers an exceptional 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: MOLEX 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: MOLEX has a superb life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: MOLEX realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why MOLEX has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: MOLEX 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 MOLEX, on volunteer work of their choice.
- PARENTAL LEAVE: MOLEX has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MOLEX | Industry | Illinois |
|---|---|---|---|
| 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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