This report analyzes and compares PHOTRONICS' employee health insurance and employee benefits with its industry and in Connecticut 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
PHOTRONICS 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 PHOTRONICS. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: PHOTRONICS continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that PHOTRONICS uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: PHOTRONICS does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: PHOTRONICS 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: PHOTRONICS has a top-notch policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: PHOTRONICS is always on the lookout for new leadership material and offers good development programs for its team members. With access to good resources, PHOTRONICS ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: PHOTRONICS does not offer onboarding.
- RECOGNITION PROGRAMS: PHOTRONICS knows that dedicated team members are hard to come by so it has an exceptional Recognition program for those who stand out and continually contribute to PHOTRONICS.
- TUITION REIMBURSEMENT: PHOTRONICS has a good 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 | PHOTRONICS | Industry | Connecticut |
|---|---|---|---|
| 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
PHOTRONICS has solid health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers solid 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 solid healthcare spending account at their disposal.
- COUNSELING: PHOTRONICS is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why PHOTRONICS implemented a great 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 great counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: PHOTRONICS offers a suitable 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: PHOTRONICS offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: PHOTRONICS offers its team members superior 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. PHOTRONICS provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: PHOTRONICS has a top-notch healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.
- MATERNITY SUPPORT PROGRAM: PHOTRONICS 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: PHOTRONICS does not offer telehealth.
- VISION PLAN: PHOTRONICS offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | PHOTRONICS | Industry | Connecticut |
|---|---|---|---|
| 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
PHOTRONICS 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: PHOTRONICS has a first-class 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. PHOTRONICS provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a first-class PHOTRONICS has Matching program that matches 75% of employees' contributions. Whatever PHOTRONICS contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave PHOTRONICS. Recognizing that every team member is unique, with specific needs and goals, PHOTRONICS keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: PHOTRONICS does not offer adoption assistance reimbursement.
- BONUS PAY: PHOTRONICS offers top-notch bonuses to team members who excel in their field of work, provide extraordinary results for PHOTRONICS, and encourage others to do the same.
- CHILDCARE DISCOUNT: PHOTRONICS offers a solid discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: PHOTRONICS 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: PHOTRONICS 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: PHOTRONICS has a suitable 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 suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: PHOTRONICS offers an extraordinary 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 extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: PHOTRONICS has an exceptional 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: PHOTRONICS has a first-class volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, PHOTRONICS stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: PHOTRONICS has a suitable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | PHOTRONICS | Industry | Connecticut |
|---|---|---|---|
| 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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