This report analyzes and compares VERIZON FOUNDATION's employee health insurance and employee benefits with its industry and in New Jersey 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
VERIZON FOUNDATION 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 VERIZON FOUNDATION. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: VERIZON FOUNDATION offers superior possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, VERIZON FOUNDATION makes sure that every single team member takes the full advantage of superior career planning programs.
- COACHING AND MENTORING: VERIZON FOUNDATION believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: VERIZON FOUNDATION encourages its team members to work on their existing skills and gain new ones continually. By providing great development resources, VERIZON FOUNDATION supports their team members on their journey to perfection. Employees have a wide range of great resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: VERIZON FOUNDATION has a good GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: VERIZON FOUNDATION offers a wide variety of remarkable courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by VERIZON FOUNDATION to grow as leaders and learn how to make tough calls.
- ONBOARDING: VERIZON FOUNDATION is aware of the difficulties that new employees might experience when they join the team. That's why VERIZON FOUNDATION has a suitable Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: VERIZON FOUNDATION 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: VERIZON FOUNDATION realizes that continuous education is a key to success so it has an impressive Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | VERIZON FOUNDATION | Industry | New Jersey |
|---|---|---|---|
| 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
VERIZON FOUNDATION 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 VERIZON FOUNDATION's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: VERIZON FOUNDATION has an extraordinary counseling program for its employees and their family members. Team members are encouraged by VERIZON FOUNDATION 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 extraordinary counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: VERIZON FOUNDATION 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: VERIZON FOUNDATION provides an extraordinary health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: VERIZON FOUNDATION does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, VERIZON FOUNDATION offers a solid healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: VERIZON FOUNDATION offers an exceptional maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: VERIZON FOUNDATION does not offer telehealth.
- VISION PLAN: VERIZON FOUNDATION 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 | VERIZON FOUNDATION | Industry | New Jersey |
|---|---|---|---|
| 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 good financial benefits at VERIZON FOUNDATION. 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. VERIZON FOUNDATION offers good life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect VERIZON FOUNDATION to partially cover the expenses.
- 401(K) PLAN: VERIZON FOUNDATION knows how important it is to think about retirement and start saving on time. That's why it offers a solid 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 VERIZON FOUNDATION 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, VERIZON FOUNDATION provides resources which will help team members decide what to do with their 401(k) plan. VERIZON FOUNDATION offers a solid vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: VERIZON FOUNDATION does not offer adoption assistance reimbursement.
- BONUS PAY: VERIZON FOUNDATION has an impressive 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: VERIZON FOUNDATION does not offer childcare discount.
- COMMUTER BENEFIT: VERIZON FOUNDATION acknowledges the fact that some team members have high commuting costs so it offers them superb commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: VERIZON FOUNDATION has a good 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: VERIZON FOUNDATION 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: VERIZON FOUNDATION offers an impressive life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: VERIZON FOUNDATION wants for its team members to lead a happy and fulfilled life so it has a valuable 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: VERIZON FOUNDATION recognizes the importance of giving back to the community so it offers a good volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by VERIZON FOUNDATION, on volunteer work of their choice.
- PARENTAL LEAVE: VERIZON FOUNDATION has a first-class parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | VERIZON FOUNDATION | Industry | New Jersey |
|---|---|---|---|
| 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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