This report analyzes and compares VERSO's employee health insurance and employee benefits with its industry and in Tennessee 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
VERSO has top-notch 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 VERSO. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: VERSO offers first-class possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, VERSO makes sure that every single team member takes the full advantage of first-class career planning programs.
- COACHING AND MENTORING: VERSO offers superb coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: outstanding development resources are what allows VERSO 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: VERSO does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: VERSO believes that providing its team members with extraordinary leadership programs is a crucial step in creating new leaders. By using extraordinary tools that VERSO provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: VERSO is aware of the difficulties that new employees might experience when they join the team. That's why VERSO has a great Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: VERSO knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to VERSO.
- TUITION REIMBURSEMENT: VERSO has a first-class Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at VERSO.
Benefit | VERSO | Industry | Tennessee |
|---|---|---|---|
| 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
VERSO 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 VERSO's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: VERSO wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its top-notch 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: VERSO 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: VERSO offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: VERSO is aware of the fact that a healthy employee is a productive employee so it offers impressive 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: VERSO 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, VERSO has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: VERSO does not offer telehealth.
- VISION PLAN: VERSO has an exceptional 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 | VERSO | Industry | Tennessee |
|---|---|---|---|
| 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
VERSO offers first-class financial benefits for employees and their family members. A first-class 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: VERSO 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 VERSO 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, VERSO provides resources which will help team members decide what to do with their 401(k) plan. VERSO offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: VERSO 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 VERSO.
- BONUS PAY: VERSO 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: VERSO does not offer childcare discount.
- COMMUTER BENEFIT: VERSO has a great 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: VERSO offers a first-class daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
- DISABILITY: VERSO has an exceptional disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: VERSO has a remarkable life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: VERSO 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: VERSO 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 VERSO, on volunteer work of their choice.
- PARENTAL LEAVE: VERSO has a top-notch parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | VERSO | Industry | Tennessee |
|---|---|---|---|
| 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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