This report analyzes and compares WACHOVIA PREFERRED FUNDING's employee health insurance and employee benefits with its industry and in Minnesota 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
WACHOVIA PREFERRED FUNDING offers solid career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, WACHOVIA PREFERRED FUNDING makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: WACHOVIA PREFERRED FUNDING offers top-notch coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: WACHOVIA PREFERRED FUNDING offers remarkable development resources to enable its employees to grow on a personal and a professional plan. With access to remarkable intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: WACHOVIA PREFERRED FUNDING does not offer ged reimbursement.
- LEADERSHIP PROGRAMS: WACHOVIA PREFERRED FUNDING offers a wide variety of top-notch courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by WACHOVIA PREFERRED FUNDING to grow as leaders and learn how to make tough calls.
- ONBOARDING: WACHOVIA PREFERRED FUNDING does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, WACHOVIA PREFERRED FUNDING implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: WACHOVIA PREFERRED FUNDING has a remarkable Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at WACHOVIA PREFERRED FUNDING.
Benefit | WACHOVIA PREFERRED FUNDING | Industry | Minnesota |
|---|---|---|---|
| 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
WACHOVIA PREFERRED FUNDING offers top-notch 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 WACHOVIA PREFERRED FUNDING's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: WACHOVIA PREFERRED FUNDING does not offer counseling.
- DENTAL PLAN: Team members at WACHOVIA PREFERRED FUNDING have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. WACHOVIA PREFERRED FUNDING partially pays for dentures and braces as well.
- HEALTH INSURANCE: WACHOVIA PREFERRED FUNDING offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING has a top-notch 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, WACHOVIA PREFERRED FUNDING has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: WACHOVIA PREFERRED FUNDING has a solid 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. WACHOVIA PREFERRED FUNDING can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: WACHOVIA PREFERRED FUNDING has an impressive 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 | WACHOVIA PREFERRED FUNDING | Industry | Minnesota |
|---|---|---|---|
| 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
WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING knows how important it is to think about retirement and start saving on time. That's why it offers a suitable 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 WACHOVIA PREFERRED FUNDING 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, WACHOVIA PREFERRED FUNDING provides resources which will help team members decide what to do with their 401(k) plan. WACHOVIA PREFERRED FUNDING offers a suitable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING offers top-notch bonuses to team members who excel in their field of work, provide extraordinary results for WACHOVIA PREFERRED FUNDING, and encourage others to do the same.
- CHILDCARE DISCOUNT: WACHOVIA PREFERRED FUNDING cooperates with partners and team members are eligible for superb discounts for a primary childcare.
- COMMUTER BENEFIT: WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING 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: WACHOVIA PREFERRED FUNDING realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why WACHOVIA PREFERRED FUNDING has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: WACHOVIA PREFERRED FUNDING has a superior volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, WACHOVIA PREFERRED FUNDING stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: WACHOVIA PREFERRED FUNDING has an exceptional parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | WACHOVIA PREFERRED FUNDING | Industry | Minnesota |
|---|---|---|---|
| 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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