This report analyzes and compares PETCO's 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
PETCO has superior 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 PETCO. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: PETCO offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, PETCO makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: PETCO 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: PETCO offers top-notch development resources to enable its employees to grow on a personal and a professional plan. With access to top-notch intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: PETCO does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: PETCO is always on the lookout for new leadership material and offers valuable development programs for its team members. With access to valuable resources, PETCO ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: PETCO offers a remarkable 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: PETCO has a remarkable 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: PETCO 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 | PETCO | 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
PETCO 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 PETCO's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: PETCO does not offer counseling.
- DENTAL PLAN: Team members at PETCO 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. PETCO partially pays for dentures and braces as well.
- HEALTH INSURANCE: PETCO offers a superior health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: PETCO offers its team members first-class 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. PETCO provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, PETCO 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: Aware of the challenges that come with pregnancy, PETCO has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: PETCO has implemented a superior telehealth policy for its members to use any time of the day, every single day. PETCO covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: PETCO provides a remarkable 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 | PETCO | 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
PETCO offers superior financial benefits for employees and their family members. A superior 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: PETCO has an excellent 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, PETCO offers an excellent 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, PETCO offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: PETCO has a first-class 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 PETCO.
- BONUS PAY: PETCO has a solid 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: PETCO has an exceptional childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: PETCO has a solid 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: PETCO offers a superior 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: PETCO has an outstanding 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: PETCO offers a valuable life insurance policy to its team members for an affordable price. PETCO 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: PETCO realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why PETCO has a remarkable vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: PETCO does not offer paid volunteer time off.
- PARENTAL LEAVE: PETCO has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | PETCO | 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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