This report analyzes and compares PSI's employee health insurance and employee benefits with its industry and in DC 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
PSI offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. PSI 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: PSI 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. PSI has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: By using a great coaching and mentoring program, PSI can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: PSI 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: PSI does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: PSI does not offer leadership programs.
- ONBOARDING: PSI 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: PSI has a top-notch 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: PSI has a great 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 | PSI | Industry | DC |
|---|---|---|---|
| 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
PSI 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 PSI's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: PSI has an impressive counseling program for its employees and their family members. Team members are encouraged by PSI 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 impressive counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: PSI 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: PSI offers a good health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: PSI does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: PSI has a superior 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: PSI offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: PSI has implemented a superb telehealth policy for its members to use any time of the day, every single day. PSI covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: PSI 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 | PSI | Industry | DC |
|---|---|---|---|
| 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
PSI 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: PSI 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. PSI 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 PSI has Matching program that matches 75% of employees' contributions. Whatever PSI contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave PSI. Recognizing that every team member is unique, with specific needs and goals, PSI keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: PSI does not offer adoption assistance reimbursement.
- BONUS PAY: PSI has an exceptional 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: PSI cooperates with partners and team members are eligible for top-notch discounts for a primary childcare.
- COMMUTER BENEFIT: PSI offers excellent commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: PSI 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: PSI offers a superb 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: PSI has a superior 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: PSI realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why PSI has a top-notch vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: PSI recognizes the importance of giving back to the community so it offers a great volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by PSI, on volunteer work of their choice.
- PARENTAL LEAVE: PSI has an outstanding parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | PSI | Industry | DC |
|---|---|---|---|
| 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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