Free Benefits and Perks Comparison Analysis HR Template
Benefits and Perks Comparison Analysis
I. Company Information
The tables below showcases the information of the respective companies that this analysis will comprehensively compare:
A. Company 1
Company Name: |
Frum Corp |
Industry: |
Technology |
Location: |
Stockton, CA 95202 |
Website: |
frumcorp.com |
B. Company 2
Company Name: |
Murry Enterprises |
Industry: |
Finance |
Location: |
New York, NY 10038 |
Website: |
murryenterprises.com |
II. Benefits and Perks
The following provides a comprehensive list of benefits and perks offered by each company:
A. Health Insurance
Company 1
Medical Insurance: |
Comprehensive coverage with low deductibles and copays. Network of preferred providers. |
Dental Insurance: |
|
Vision Insurance: |
Company 2
Medical Insurance: |
High-deductible health plan with a Health Savings Account (HSA) option. Coverage for major medical expenses. |
Dental Insurance: |
|
Vision Insurance: |
B. Retirement Plans
Company 1
Employer Matching: |
Company matches 5% of employee contributions. Vesting is immediate. |
Company 2
Employer Matching: |
Company matches 4% of employee contributions. Vesting is gradual over 3 years. |
C. Paid Time Off
Company 1
Vacation Days: |
20 days of paid vacation annually, increasing with tenure. |
Sick Leave: |
|
Holidays: |
Company 2
Vacation Days: |
15 days of paid vacation annually, increasing with tenure. |
Sick Leave: |
|
Holidays: |
D. Flexible Work Arrangements
Company 1
Remote Work Options: |
Employees can work remotely up to 3 days a week. |
Flexible Hours: |
Company 2
Remote Work Options: |
Limited remote work options for specific roles. |
Flexible Hours: |
E. Stock Options or Equity Grants
Company 1
Stock Options: |
Eligible for stock options with a four-year vesting period. |
Equity Grants: |
Company 2
Stock Options: |
Stock options available with a three-year vesting schedule. |
Equity Grants: |
F. Bonuses and Incentives
Company 1
Performance Bonuses: |
Performance-based bonuses paid quarterly. |
Sign-On Bonuses: |
Sign-on bonuses offered for certain positions. |
Company 2
Performance Bonuses: |
Annual performance bonuses based on achievements. |
Sign-On Bonuses: |
Sign-on bonuses available for select hires. |
G. Tuition Reimbursement or Professional Development
Company 1
Tuition Reimbursement: |
Reimbursement for job-related courses and degrees. |
Professional Development Opportunities: |
Company 2
Tuition Reimbursement: |
Partial tuition reimbursement for accredited programs. |
Professional Development Opportunities: |
H. Wellness Programs
Company 1
Wellness Initiatives: |
Company-wide wellness challenges and initiatives. |
Fitness Subsidies: |
Company 2
Wellness Initiatives: |
Occasional wellness programs and challenges. |
Fitness Subsidies: |
I. Employee Assistance Programs (EAPs)
Company 1
Employee Assistance Program: |
Confidential counseling and support services. |
Counseling Services: |
Company 2
Employee Assistance Program: |
Employee assistance program with counseling services. |
Counseling Services: |
J. Commuter Benefits
Company 1
Commuter Assistance: |
Pre-tax commuter benefits for public transit. |
Parking Subsidies: |
Company 2
Commuter Assistance: |
Limited commuter benefits for public transit. |
Parking Subsidies: |
K. Life Insurance
Company 1
Life Insurance Coverage: |
Term life insurance with coverage of 2x annual salary. |
Beneficiary Information: |
Company 2
Life Insurance Coverage: |
Basic term life insurance coverage provided. |
Beneficiary Information: |
L. Disability Insurance
Company 1
Short-Term Disability: |
Short-term disability coverage for non-work-related injuries/illnesses. |
Long-Term Disability: |
Company 2
Short-Term Disability: |
Short-term disability coverage with a waiting period. |
Long-Term Disability: |
III. Eligibility and Vesting
The tables below will provide information regarding eligibility criteria and vesting periods for the benefits offered by each of the company:
A. Company 1
Benefit Name |
Eligibility Criteria |
Vesting Period |
401(k) Plan |
All full-time employees eligible |
Immediate vesting |
B. Company 2
Benefit Name |
Eligibility Criteria |
Vesting Period |
401(k) Plan |
Employees after 6 months of service |
Gradual over 3 years |
IV. Cost to Employee
Outlined below are the specific costs that employees are expected to bear for each specific benefit:
A. Company 1
Benefit Name |
Employee Cost |
401(k) Plan |
5% of salary for employee contributions |
B. Company 2
Benefit Name |
Employee Cost |
401(k) Plan |
4% of salary for employee contributions |
V. Employer Contributions
Presented below are the detailed comparisons of the employer contributions of each company:
A. Company 1
Benefit Name |
Employer Contribution |
401(k) Plan |
5% matching for employee contributions |
B. Company 2
Benefit Name |
Employer Contribution |
401(k) Plan |
4% matching for employee contributions |
VI. Notes or Comments
A. Company 1
-
The 401(k) plan with immediate vesting is a strong incentive for long-term savings.
-
The comprehensive medical insurance coverage is appealing to employees.
-
Performance bonuses may vary based on individual performance.
B. Company 2
-
Gradual vesting for the 401(k) plan may deter short-term employees.
-
Limited remote work options may not suit all roles.
-
Employee contributions for medical insurance can impact take-home pay.
VII. Total Compensation
The total compensation package for each company, including salary, bonuses, and the value of benefits and perks are outlined below:
A. Company 1
Salary: |
$75,000 per year |
Total Value of Benefits and Perks: |
$15,000 per year |
B. Company 2
Salary: |
$80,000 per year |
Total Value of Benefits and Perks: |
$12,000 per year |
VIII. Overall Comparison
Building upon the detailed comparisons of the benefits and perks of the two companies we have derived the following insights and ranking:
A. Summary
-
Company 1 offers a competitive salary and a strong emphasis on benefits like immediate vesting in the 401(k) plan and comprehensive medical insurance.
-
Company 2 provides a slightly higher base salary but has a gradual vesting period for the 401(k) plan and limited remote work options.
B. Ranking or Rating
-
Company 1: 4 out of 5 stars
-
Company 2: 3.5 out of 5 stars