Ernst and Young (EY) is a multinational company that is the pioneer in four sectors- Assuring the quality, accounts of the firm, taxation, and strategy. They consult customers to strategize better so that the organization can achieve its goal. Let us know more about that the EY Employee Benefits-Know More.
The organization has its headquarters in London United Kingdom. The company has a strength of 365,399 employees. Till the year 2022, the company generated a revenue of 45.4 billion dollars. The company follows the strategy of continuously working on its area of expertise so that it can adapt to changing technology and can deliver the best experience to its customers.
EY Employee Benefits
Every organization design benefits from the idea to retain its employees. EY has creatively designed its benefits program. According to the survey, 88% of the employees are satisfied with what they are offered in the form of benefits.
The Financial Benefits
- The organization keeps checking on the progress of the employee with respect to which the employees are given financial benefits.
- The Employee working in EY has the privilege of having a pension after retirement. The 6% of their salary is stored as a pension.
- An employee is recognized and rewarded for achieving targets.
- Give the knowledge on how to manage finances.
- At difficult times the organization also provides loans to the employee.
- Employees can also hold shares and can open an account in the organization.
- The organization believes that its employees should invest wisely, and for that, they also give consultations regarding how they should invest and manage their finances.
- The organization also advises on debts.
- The Employees can also get loans without paying interest only if they employee is on contract.
- The employees also get discounts on various brands.
- For higher hierarchy, the management also provides monetary benefits instead of a company car.
- The firm also advises on managing taxes.
Holiday benefit
- The Employee can take 27 leaves in the whole year, with the possibility that they can adjust their leaves for another year.
- EY offers its employees the freedom of flexible hours. The employee can work in the morning and can pick up his/her kid in the afternoon or may the employee is a part-time worker at a restaurant and can work according to his/her own will.
- The firm offers 52 weeks of leave for maternity, paternity, adoption, and surrogacy leaves.
- EY values the effort of its hard-working employees and grants some days off when the employee is in a state of exhaustion.
Health Benefits
- An employee can take leaves for 52 weeks in case of serious illness.
- The charges of serious illness will bear by the company.
- The company always debit 500 pounds in employees’ account for serious illness.
- The company gives the privilege of free eyesight checkups for employees.
- Give discounts on various gyms so that employees can maintain a healthy lifestyle.
- Sessions on various meditation and health care issues.
- The company provides dental insurance too.
- Free health checkups for employees who are 30 and above.
- The company offers physiotherapy sessions and advice for the employees going through it.
Rewards
- The company offers a token of appreciation to the employees who generate and transform new technology, they call the reward badges and it is digital in nature.
- EY has spent around 300 US million dollars on training new employees.
- If the employee has designed which is a breakthrough for any technology EY recognizes it and rewards him/her digitally.
- The company offers its employees full-time MBA degrees if they are not postgraduate, free of charge.
- EY has partnered with business schools to give the right education to its employees.
Miscellaneous Benefits
- Other than MBA if the employee wishes to study more that is beneficial for his growth in the organization then the firm gives full financial assistance and leave for exam preparation.
- The company offers full membership for one person who is qualified for various other institutes.
- The organization promotes charities and suggests employees donate some of their salaries to charities.
- The company offers a cash reward to the employee who refers to the employee that becomes an integral part of the organization.
- The organization offers mobility to employees who wish to work interstate or in different offices in different countries.
- The employee can wear whatever they feel according to their mood but should be decent.
- The employees are advised to dedicate one day to community work and social services.
- The organization arranges various events to maintain the healthy lifestyle of employees.
- Employees working at EY have the benefit of managing the work and the family, as the organization provides facilities regarding child care, and also supports the employees that are back from long maternity or paternity leave.
- EY values the mental health of its employees for this along with sessions they have planted mental health officers in all offices to supervise and address the issue immediately.
- The employee should not be tense about retirement as EY has an excellent pension scheme.
- They have launched a certain app where an employee can connect with tax officers for payment of individual taxes.
- EY has organized the total rewards lot for recognizing young talents.
Conclusion
EY benefits scheme is creatively designed so as to address every issue of the employee. By the year 2022, the employee satisfaction rate in EY was 90%. It has creatively designed the program so that every employee can accelerate its growth to a better future and contribute something good to society.
Faqs
- Discuss the EY wellness program.
EY values its employees the most as they are an integral part of the Organization. They organize seminars and workshops for meditation, yoga, and various other activities so that they can de-stress and focus on their well-being.
- What it’s like to work at EY?
Ey has elevated the buying power of its employees. Now employees can save and earn points with each pound they spend and from that, they can get discounts on various merchandise. The employees can get the stuff free of cost. Many employees have registered for this program.