This report analyzes and compares RITZ-CARLTON's employee health insurance and employee benefits with its industry and in Maryland 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
RITZ-CARLTON offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. RITZ-CARLTON 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: RITZ-CARLTON 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. RITZ-CARLTON has good resources at its disposal to achieve this goal.
- COACHING AND MENTORING: RITZ-CARLTON does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: RITZ-CARLTON offers first-class development resources to enable its employees to grow on a personal and a professional plan. With access to first-class intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: RITZ-CARLTON has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: RITZ-CARLTON does not offer leadership programs.
- ONBOARDING: RITZ-CARLTON does not offer onboarding.
- RECOGNITION PROGRAMS: RITZ-CARLTON knows that dedicated team members are hard to come by so it has an extraordinary Recognition program for those who stand out and continually contribute to RITZ-CARLTON.
- TUITION REIMBURSEMENT: RITZ-CARLTON realizes that continuous education is a key to success so it has an outstanding Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | RITZ-CARLTON | Industry | Maryland |
|---|---|---|---|
| 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
RITZ-CARLTON 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 RITZ-CARLTON's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: RITZ-CARLTON is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why RITZ-CARLTON implemented a valuable 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 valuable counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: RITZ-CARLTON cares about its team members' dental health so it offers an outstanding dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: RITZ-CARLTON offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: RITZ-CARLTON does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: RITZ-CARLTON has a first-class 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: Aware of the challenges that come with pregnancy, RITZ-CARLTON has created a remarkable maternity support program to support its expecting team members.
- TELEHEALTH: RITZ-CARLTON has implemented a superior telehealth policy for its members to use any time of the day, every single day. RITZ-CARLTON covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: RITZ-CARLTON has an extraordinary Vision Plan for its team members who can count on coverage of a wide variety eye exams and procedures, as well as vision-related medical devices.
Benefit | RITZ-CARLTON | Industry | Maryland |
|---|---|---|---|
| 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
RITZ-CARLTON 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: RITZ-CARLTON knows how important it is to think about retirement and start saving on time. That's why it offers a valuable 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 RITZ-CARLTON 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, RITZ-CARLTON provides resources which will help team members decide what to do with their 401(k) plan. RITZ-CARLTON offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: RITZ-CARLTON 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: RITZ-CARLTON offers superior bonuses to team members who excel in their field of work, provide extraordinary results for RITZ-CARLTON, and encourage others to do the same.
- CHILDCARE DISCOUNT: RITZ-CARLTON does not offer childcare discount.
- COMMUTER BENEFIT: RITZ-CARLTON has a good 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: RITZ-CARLTON offers an excellent daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.
- DISABILITY: RITZ-CARLTON 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: RITZ-CARLTON offers a valuable life insurance policy to its team members for an affordable price. RITZ-CARLTON 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: RITZ-CARLTON wants for its team members to lead a happy and fulfilled life so it has a good vacation policy for every employee. The number of paid vacation days depends on how long has a certain member been part of the team.
- PAID VOLUNTEER TIME OFF: RITZ-CARLTON believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why RITZ-CARLTON offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: RITZ-CARLTON has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | RITZ-CARLTON | Industry | Maryland |
|---|---|---|---|
| 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 |
Improve this report:
We have prepared RITZ-CARLTON's benefits report with the best of our knowledge. If you believe some information here is incorrect, please click the link below and send as a note.
We will contact you and/or update the information in 2-5 business days.