This report analyzes and compares STITCH FIX'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
STITCH FIX offers valuable career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. STITCH FIX believes that every employee has a valuable set of skills so it helps them plan their careers with valuable developmental resources and mentorships.
- CAREER PLANNING: STITCH FIX continually evaluates its team members to determine the potential and direction of employees' careers. The extraordinary tools that STITCH FIX uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: By using a suitable coaching and mentoring program, STITCH FIX can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: outstanding development resources are what allows STITCH FIX to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in outstanding workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: STITCH FIX has a good GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: STITCH FIX does not offer leadership programs.
- ONBOARDING: STITCH FIX does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, STITCH FIX implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: STITCH FIX 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 | STITCH FIX | 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
STITCH FIX provides outstanding health benefits to enable team members and their families to have the best healthcare available, including telehealth services and consultations with various health professionals. Whether it's a fully covered dental plan or an outstanding maternity support program, employees can rest assure that their health needs are fully met.
- COUNSELING: STITCH FIX wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: STITCH FIX cares about its team members' dental health so it offers an excellent 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: STITCH FIX offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: STITCH FIX is aware of the fact that a healthy employee is a productive employee so it offers extraordinary 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: STITCH FIX has a superb 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: STITCH FIX offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: STITCH FIX has an impressive telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: STITCH FIX has an excellent 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 | STITCH FIX | 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
Team members enjoy solid financial benefits at STITCH FIX. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. STITCH FIX offers solid life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect STITCH FIX to partially cover the expenses.
- 401(K) PLAN: STITCH FIX does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: STITCH FIX has a superb 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 STITCH FIX.
- BONUS PAY: STITCH FIX offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for STITCH FIX, and encourage others to do the same.
- CHILDCARE DISCOUNT: STITCH FIX offers a solid discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: STITCH FIX acknowledges the fact that some team members have high commuting costs so it offers them remarkable commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: STITCH FIX has a suitable daycare spending account that fills from each paycheck before taxes. This allows team members to partially cover costs of daycare while they are at work.
- DISABILITY: STITCH FIX offers a remarkable 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: STITCH FIX offers a great life insurance policy to its team members for an affordable price. STITCH FIX 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: STITCH FIX realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why STITCH FIX has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: STITCH FIX does not offer paid volunteer time off.
- PARENTAL LEAVE: STITCH FIX has a first-class parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | STITCH FIX | 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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