This report analyzes and compares TIMEX's employee health insurance and employee benefits with its industry and in Arkansas 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
TIMEX offers solid career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. TIMEX believes that every employee has a valuable set of skills so it helps them plan their careers with solid developmental resources and mentorships.
- CAREER PLANNING: TIMEX offers superb possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, TIMEX makes sure that every single team member takes the full advantage of superb career planning programs.
- COACHING AND MENTORING: TIMEX does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: TIMEX encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, TIMEX supports their team members on their journey to perfection. Employees have a wide range of valuable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: TIMEX does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: TIMEX believes that providing its team members with impressive leadership programs is a crucial step in creating new leaders. By using impressive tools that TIMEX provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: TIMEX is aware of the difficulties that new employees might experience when they join the team. That's why TIMEX has a great Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, TIMEX implemented a good Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: TIMEX has a superb Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at TIMEX.
Benefit | TIMEX | Industry | Arkansas |
|---|---|---|---|
| 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
TIMEX 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 TIMEX's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: TIMEX wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its first-class 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: TIMEX offers a valuable 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: TIMEX offers a valuable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: TIMEX offers its team members top-notch 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. TIMEX provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: TIMEX 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: TIMEX has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: TIMEX has implemented a first-class telehealth policy for its members to use any time of the day, every single day. TIMEX covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: TIMEX offers a great Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | TIMEX | Industry | Arkansas |
|---|---|---|---|
| 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
TIMEX 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: TIMEX knows how important it is to think about retirement and start saving on time. That's why it offers a great 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 TIMEX 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, TIMEX provides resources which will help team members decide what to do with their 401(k) plan. TIMEX offers a great vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: TIMEX has an outstanding 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: TIMEX offers superior bonuses to team members who excel in their field of work, provide extraordinary results for TIMEX, and encourage others to do the same.
- CHILDCARE DISCOUNT: TIMEX has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: TIMEX offers outstanding 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: TIMEX has a valuable 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: TIMEX has a good 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 good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: TIMEX offers a valuable life insurance policy to its team members for an affordable price. TIMEX 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: TIMEX wants for its team members to lead a happy and fulfilled life so it has a great 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: TIMEX does not offer paid volunteer time off.
- PARENTAL LEAVE: TIMEX has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | TIMEX | Industry | Arkansas |
|---|---|---|---|
| 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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