This report analyzes and compares NEWFIELD EXPLORATION's employee health insurance and employee benefits with its industry and in Texas 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
NEWFIELD EXPLORATION offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. NEWFIELD EXPLORATION believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: NEWFIELD EXPLORATION believes that career planning of each employee is a key to a successful business and offers good opportunities so that the employees can reach their full potential. NEWFIELD EXPLORATION has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: NEWFIELD EXPLORATION does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: NEWFIELD EXPLORATION offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: NEWFIELD EXPLORATION has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: NEWFIELD EXPLORATION offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by NEWFIELD EXPLORATION to grow as leaders and learn how to make tough calls.
- ONBOARDING: NEWFIELD EXPLORATION is aware of the difficulties that new employees might experience when they join the team. That's why NEWFIELD EXPLORATION has a valuable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, NEWFIELD EXPLORATION implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: NEWFIELD EXPLORATION has a valuable 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 | NEWFIELD EXPLORATION | Industry | Texas |
|---|---|---|---|
| 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
NEWFIELD EXPLORATION 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 NEWFIELD EXPLORATION's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: NEWFIELD EXPLORATION wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its top-notch 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 NEWFIELD EXPLORATION 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. NEWFIELD EXPLORATION partially pays for dentures and braces as well.
- HEALTH INSURANCE: NEWFIELD EXPLORATION offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: NEWFIELD EXPLORATION is aware of the fact that a healthy employee is a productive employee so it offers exceptional 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: To financially help its team members with medical emergencies, NEWFIELD EXPLORATION offers a great 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: NEWFIELD EXPLORATION offers an outstanding maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: NEWFIELD EXPLORATION does not offer telehealth.
- VISION PLAN: NEWFIELD EXPLORATION offers a great Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | NEWFIELD EXPLORATION | Industry | Texas |
|---|---|---|---|
| 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
NEWFIELD EXPLORATION 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: NEWFIELD EXPLORATION has an impressive 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, NEWFIELD EXPLORATION offers an impressive 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, NEWFIELD EXPLORATION offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: NEWFIELD EXPLORATION 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 NEWFIELD EXPLORATION.
- BONUS PAY: NEWFIELD EXPLORATION offers top-notch bonuses to team members who excel in their field of work, provide extraordinary results for NEWFIELD EXPLORATION, and encourage others to do the same.
- CHILDCARE DISCOUNT: NEWFIELD EXPLORATION has an excellent childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: NEWFIELD EXPLORATION 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: NEWFIELD EXPLORATION offers a superb 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: NEWFIELD EXPLORATION offers a remarkable 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: NEWFIELD EXPLORATION 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: NEWFIELD EXPLORATION realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why NEWFIELD EXPLORATION has a top-notch vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: NEWFIELD EXPLORATION recognizes the importance of giving back to the community so it offers a solid volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by NEWFIELD EXPLORATION, on volunteer work of their choice.
- PARENTAL LEAVE: NEWFIELD EXPLORATION has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | NEWFIELD EXPLORATION | Industry | Texas |
|---|---|---|---|
| 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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