This report analyzes and compares SYNOPSYS' 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
SYNOPSYS has first-class 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 SYNOPSYS. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: SYNOPSYS offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, SYNOPSYS makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: By using a great coaching and mentoring program, SYNOPSYS can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: SYNOPSYS encourages its team members to work on their existing skills and gain new ones continually. By providing suitable development resources, SYNOPSYS supports their team members on their journey to perfection. Employees have a wide range of suitable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: SYNOPSYS has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: SYNOPSYS believes that providing its team members with outstanding leadership programs is a crucial step in creating new leaders. By using outstanding tools that SYNOPSYS provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: SYNOPSYS does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, SYNOPSYS implemented a solid Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: SYNOPSYS realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | SYNOPSYS | 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
SYNOPSYS offers superb 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 SYNOPSYS's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: SYNOPSYS is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why SYNOPSYS implemented a good 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 good counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: SYNOPSYS offers a great 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: SYNOPSYS offers a superior health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: SYNOPSYS is aware of the fact that a healthy employee is a productive employee so it offers outstanding 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: SYNOPSYS offers an exceptional healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: SYNOPSYS offers an excellent maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: SYNOPSYS has a great telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. SYNOPSYS can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: SYNOPSYS 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 | SYNOPSYS | 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
SYNOPSYS offers remarkable financial benefits for employees and their family members. A remarkable 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: SYNOPSYS does not offer 401(k) plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: SYNOPSYS has a superior 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 SYNOPSYS.
- BONUS PAY: SYNOPSYS 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: SYNOPSYS cooperates with partners and team members are eligible for superb discounts for a primary childcare.
- COMMUTER BENEFIT: SYNOPSYS 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: SYNOPSYS 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: SYNOPSYS offers a first-class 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: SYNOPSYS offers a good life insurance policy to its team members for an affordable price. SYNOPSYS 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: SYNOPSYS has an impressive 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: SYNOPSYS recognizes the importance of giving back to the community so it offers a valuable volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by SYNOPSYS, on volunteer work of their choice.
- PARENTAL LEAVE: SYNOPSYS has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | SYNOPSYS | 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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