This report analyzes and compares OIL STATES' 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
OIL STATES 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 OIL STATES. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: OIL STATES 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. OIL STATES has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: OIL STATES offers remarkable coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows OIL STATES 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: OIL STATES has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: OIL STATES offers a wide variety of top-notch courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by OIL STATES to grow as leaders and learn how to make tough calls.
- ONBOARDING: OIL STATES does not offer onboarding.
- RECOGNITION PROGRAMS: OIL STATES has a superior 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: OIL STATES has a first-class Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at OIL STATES.
Benefit | OIL STATES | 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
OIL STATES 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 OIL STATES's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: OIL STATES has an excellent counseling program for its employees and their family members. Team members are encouraged by OIL STATES to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This excellent counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: OIL STATES offers a good 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: OIL STATES provides an impressive health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: OIL STATES 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, OIL STATES 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: OIL STATES has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: OIL STATES has implemented a first-class telehealth policy for its members to use any time of the day, every single day. OIL STATES covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: OIL STATES provides a superior 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 | OIL STATES | 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
OIL STATES 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: OIL STATES 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 OIL STATES 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, OIL STATES provides resources which will help team members decide what to do with their 401(k) plan. OIL STATES offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: OIL STATES has an extraordinary Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: OIL STATES offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for OIL STATES, and encourage others to do the same.
- CHILDCARE DISCOUNT: OIL STATES has an extraordinary childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: OIL STATES 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: OIL STATES offers a remarkable 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: OIL STATES has a valuable 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 valuable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: OIL STATES offers a good life insurance policy to its team members for an affordable price. OIL STATES 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: OIL STATES has an outstanding 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: OIL STATES has a remarkable volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, OIL STATES stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: OIL STATES has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | OIL STATES | 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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