At Bank of America, the organization believes in supporting its employees in their personal lives and professional lives because they are the pillar of the business. If you are applying for employment at Bank of America, and you are considering what the employee benefits the organization offers, you are on the right page. Bank of America provides a wide range of benefits for their employees, while the organization provides much support their employees need. Besides its competitors, Bank of America is a great place to work because there is a work-life balance for every employee. Here, let’s know about Bank of America Employee Benefits.
Here are some categories of benefits offered by Bank of America to their employees to make them happy and productive.
Bank of America Employee Benefits
Health and insurance benefits
Not all employers of labor in the United States consider the importance of their employee health as Bank of America does. This is because Bank of America believes their employees are the pillar of the organization, and if any of the pillars fall, the business will suffer drag. The Bank of America provides its employees with comprehensive healthcare and insurance packages that cater to their health. More so, the health insurance extends to their families as well. They also provide the employee with health and lifestyle coaching sessions that, in a way, help to contribute to their lifestyle performance in the long run. Aside from the health care insurance, there is a provision for replacement income in case of life disability when their employee suffers a fatal injury or death.
Medical benefits plan
The medical benefits plan provided by Bank of America is easily accessible by the employees of the bank and their family members. The plan is designed to help the employee and their family save money if they battle any medical conditions. The medical fees are handled by the Bank of America while providing other securities and coverage for medical costs incurred, such as visiting the doctors or being admitted to the hospital. In addition, a medical plan covers drugs prescribed for the Bank of America employees, which is tailored towards maintaining a healthy lifestyle.
Dental benefits
As an employee at Bank of America, you are also entitled to dental benefits paid for by the organization. Here is another perk offered by the bank where any cost you have incurred while seeking detailed medical health or other extractions or tooth repair processes. Preventive care and major tooth care are also paid for, and you can easily get reimbursed by the company.
Physical wellness Benefits
Aside from the medical and dental benefits that the employees enjoy, the Bank of America also offers its employees physical wellness benefits. The offers include an overall quality health insurance, the plan that the employees benefit from, and a way to get them active to perform duty daily. In addition, there are various programs and resources such as annual health screening exercises conducted by Bank of America on their employees. This is often a session designed to get the employees to access resources to help them manage their health better at no cost.
Emotional wellness
This is an important aspect of our life as human beings, and any displacement in the emotional wellness of an individual would lead to crises. This is why Bank of America has provided a benefit to cater to the health of their employees in their emotional lifestyle. There are times when there would be life challenges; Bank of America believes employees should get help when necessary. The employee’s assistance program provides free access 24/7 for all employees and family members who might need the same help. US employees working with Bank of America have access to industry-leading experts who can easily guide you through the emotional crisis you might find yourself in. Here is a list of how Bank of America supports you during significant times in your life the include;
Critical events, such as natural disasters,
Fires
Complex leaves of absence
Gender transition in the workplace
Retirement
Survivor support
Terminal illness
Transition related to military service
Working with a medical accommodation need in the workplace
Besides, if you are going through any grief, you would be entitled to a paid leave for up to 20 days as a full-time employee if you have lost any family members of yours. Suppose you are hosting a moment that matters in your life. In that case, you get access to a Life Event Services team from Bank of America who would provide you with personalized resources, connections, and other benefits you might require to go through the emotional stage you are in. Moments like retirements, burial for a loved one or impacted domestic unjust you might suffer, or anything related to emotional support is all catered for by Bank of America.
Financial Wellness
Here is another ultimate reason Bank of America is considered one of the best places to work: the various benefits available to its employees. Bank of America offers its US employees up to about 50 percent eligible pay to their 401 k retirement saving place, which only a few organizations measure up to. In addition, the contribution support provided by Bank of America matches the plus 2 percent or 3 percent in the annual contribution to the retirement saving plan.
More so, Bank of America US employees can speak with an experienced counselor on managing their finances. In addition, they can easily benefit from the Education and Planning Center of the company for free. Here they can easily learn how to prepare for their retirement days and help them set financial goals. Indeed the guidance is designed to help the employees manage their funds properly and create an effective saving plan for the later future.
Finally, employees of Bank of America are offered financial education and special access to expertise, products, and services on finance, which is extended to their family members as well.
Career mobility
Bank of America cares not only for your finances but also for your career transition and success. This is because the more successful you are in your career, the more productive you would be at Bank of America. The company helps you develop your skills and grow your career to a critical stage where you can easily sustain your talent and overall performance. In addition, there are various leadership-supported programs and learning development resources that are accessible to you for free.
Your performance is reviewed in line with your job description, and once a year conversation is achieved, you will be examined. The purpose of career mobility benefits is to help you achieve actionable goals and sharpen the skills required to achieve that great feat you desired. With consistent check up on your goals and support from the Bank of America through its career mobility benefits, in no time, you would achieve your goal and get to the desired stage. Here are some aspects that are focused on by Bank of America;
Skill development: Your skills are a potential asset to Bank of America, and they must be properly explored. If you are not using your skill properly, Bank of America brings a diverse learning style and directs you to achieve a personalized approach to skill development. The good thing is that you have access to continuing education, and the bank ensures their employees are at the top of their performance level so they can positively impact the organization with their skills and grow over time in their careers.
Professional growth: Bank of America offers another benefit to its employees: an opportunity to grow within the organization. No matter the career path you have chosen at Bank of America, there is always a way for the bank to support you professionally through resources and programs to help you explore the next stage of your career and prepare you for the new duties and roles you would be carrying out. In addition, Bank of America has leadership models outlined to help you throughout your journey in the organization and empower you to make the best decisions for your career progression.
Conclusion
Bank of America has stood tall among other employers through its various plans and benefits to its employees. From wellness to emotional support and medical insurance, and other benefits that have been mentioned in this piece. As a future employee at Bank of America, working in this organization would be an experience you would love to always associate with because you would immensely benefit from all the offerings of Bank of America. In short, almost all the benefits available to you as an employee of Bank of America are also accessible to your family members.
FAQS
What discounts do the employees of Bank of America benefit from?
The employees of Bank of America enjoy different discounts, and those discounts include;
- Computers Member Pricing for all major brands.
- Eating In or Out. Up to 90% off at 18,000 locations.
- Personal Vacations. Air, Hotel & Car Rentals from Corporate Perks.
- Electronics
- Cell Phones
- Movie Tickets
Is Bank of America a good bank?
Bank of America is a good choice for many customers who want to access banking services. More they reward their customers frequently.
