This report analyzes and compares WATSON WYATT's employee health insurance and employee benefits with its industry and in New York 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
WATSON WYATT offers great career benefits and onboarding programs for its team members in an effort the make them feel like a part of the family. WATSON WYATT believes that every employee has a valuable set of skills so it helps them plan their careers with great developmental resources and mentorships.
- CAREER PLANNING: WATSON WYATT offers remarkable possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, WATSON WYATT makes sure that every single team member takes the full advantage of remarkable career planning programs.
- COACHING AND MENTORING: By using a suitable coaching and mentoring program, WATSON WYATT can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: exceptional development resources are what allows WATSON WYATT to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in exceptional workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: WATSON WYATT has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: WATSON WYATT is always on the lookout for new leadership material and offers solid development programs for its team members. With access to solid resources, WATSON WYATT ensures that team members with a potential for becoming leaders can achieve their goals.
- ONBOARDING: WATSON WYATT does not offer onboarding.
- RECOGNITION PROGRAMS: WATSON WYATT has a superior 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: WATSON WYATT does not offer tuition reimbursement.
Benefit | WATSON WYATT | Industry | New York |
|---|---|---|---|
| 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
WATSON WYATT 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 WATSON WYATT's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: WATSON WYATT has an extraordinary counseling program for its employees and their family members. Team members are encouraged by WATSON WYATT 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: Team members at WATSON WYATT have a top-notch dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. WATSON WYATT partially pays for dentures and braces as well.
- HEALTH INSURANCE: WATSON WYATT offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: WATSON WYATT does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: WATSON WYATT offers an excellent 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: WATSON WYATT has a suitable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: WATSON WYATT does not offer telehealth.
- VISION PLAN: WATSON WYATT has an outstanding 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 | WATSON WYATT | Industry | New York |
|---|---|---|---|
| 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
WATSON WYATT 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: WATSON WYATT has an extraordinary 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, WATSON WYATT offers an extraordinary program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, WATSON WYATT offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: WATSON WYATT has a solid Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: WATSON WYATT offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for WATSON WYATT, and encourage others to do the same.
- CHILDCARE DISCOUNT: WATSON WYATT has an excellent childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: WATSON WYATT acknowledges the fact that some team members have high commuting costs so it offers them superior commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: WATSON WYATT 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: WATSON WYATT has a solid 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 solid coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: WATSON WYATT offers a solid life insurance policy to its team members for an affordable price. WATSON WYATT 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: WATSON WYATT wants for its team members to lead a happy and fulfilled life so it has a suitable 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: WATSON WYATT 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 WATSON WYATT, on volunteer work of their choice.
- PARENTAL LEAVE: WATSON WYATT has an outstanding parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | WATSON WYATT | Industry | New York |
|---|---|---|---|
| 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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