IBM Employee Benefits- History of IBM

IBM Employee Benefits

Introduction to IBM 

There may be thousands of tech companies in the world, but not all of them survive in the business for too long, as some go bankrupt while some get merged or sold off to other companies, and the cycle repeats. But there is one company, which has survived for over a century, seen the world wars, helped people go to space, and survived a major pandemic, long enough to tell its tales. IBM (International Business Machines) is a leading multinational tech giant, which had just earned over $77.7 billion in the last quarter of 2020. Most technology has evolved from IBM, where it has inspired various other tech giants. Here, let’s know about IBM Employee Benefits.

With over 350,000 employees spread across 171 countries, IBM ranks amongst companies with the most number of employees in the world. With so many employees on their payroll, comes the task of retaining them and keeping them satisfied with various benefits and perks for their wellness. They offer an array of benefits to their employees, which will be covered in this extensive list.

Interested in working at IBM? Curious about the employee benefits provided by them? Worry no more, this article provides the sufficient information you need before you apply at IBM.

What Are The Employee Benefits Of IBM 

IBM provides its employees with a multitude of benefits. The lengthy list includes various perks and benefits, we will start with the most essential ones first. 

  • Life Insurance

This has to be the most important perk offered by any employer. Though this is mandated by law, IBM makes sure to provide excellent coverage of the insurance to their employees. This insurance is available for you, your partner, and other eligible dependents i.e. children. 

  • Vision Insurance

As employees spend close to one-third of the day working in front of a computer, it may take a toll on their eyes. IBM offers the vision plan which offers the benefits for eye exams and eyewear as well, providing an additional discount on the latter.

  • Dental Insurance 

IBM provides two types of dental insurance. The detailed basic plan includes and covers the cost of routine checkups, dental cleanings, x-rays, and other various treatments at no charge. 

Due to the pandemic, everyone is working from the comfort of their bedrooms. But IBM has implemented remote work for the majority of the workforce even after the end of the pandemic. Employees can work comfortably and flexibly. Over 90% of IBM employees work from home.

  • Tuition Reimbursement

Employees that are currently pursuing their academic endeavors while working at IBM can get their tuition fee reimbursed. This encourages not only the young employees but the more experienced employees to restart their academic journey. 

  • Maternity leave and Adoption assistance 

Expecting and new parents can avail paid Maternity leave. The leave can last anywhere from 4 to up to 16 weeks. Adoption assistance is also provided with some financial assistance and reimbursement of some expenses. All of these benefits can be availed from the day you join IBM. Fertility assistance is also provided, which includes finding the donors along with covering the IVF expenses. 

  • Mental Health Care Program

The Mental Health Care program provided by IBM provides detailed and extensive treatment which can be pertained to emotional and psychological problems. The employees will have access to licensed professionals like therapists, psychologists, social workers, and non-profit organizations to further help and assist them. 

  • Employee Assistance Program (EAP)

The above program provides short-term counseling for a variety of life events that may be stressing the employee and affecting their performance.  

  • 401k Matching

IBM makes sure to offer great matching rates with their 401k program, this also includes Roth 401k. Safeguarding retirement for their employees. 

Additional Employee Benefits

Above were the essential benefits provided by IBM to their employees, but the list isn’t finished yet. Below are some of the additional perks that you, as an employee, can avail yourself for yourself at IBM:

  • Job Training.
  • Vacation period and PTO (Paid Time Off)
  • Stock purchase plan for employees.
  • Bonus on performance.
  • Stock options.
  • Incentive Equity Plan.
  • Pension Plan.
  • Invitations to gatherings and parties organized by the company.
  • Charitable gift matching.
  • Transport facility.
  • Sabbatical.
  • Mobile bill discount.
  • Employee discount.
  • Sick leave.
  • Bereavement leave.
  • Gender-neutral bathrooms.
  • Diversity Program.
  • Professional Development.
  • AD&D (Accidental Death and Dismemberment) Insurance.

Importance Of Employee Benefits

Employee benefits are not only important for the employee but they’re also necessary for the employer, as the well-being of the employees results in increased productivity. Employees who avail of the benefits not only have increased loyalty in their employers but also feel motivated to work and focus. Multiple surveys show that employees prefer benefits and perks over pay increases. This ensures a healthy work environment and a great work ethic. These benefits can increase the employees’ enthusiasm to work. IBM offers the right kind of perks to not only retain their loyal employees but also to hire recruits. 

IBM makes sure to provide the best they can in reducing stress by offering various perks such as paternity leave which reduces the employee’s stress regarding work. This in turn retains the employee and maintains a healthy relationship with them. 

History Of IBM 

IBM was founded in 1911 in Endicott, New York, was formerly known as CTR (Computer-Tabulating-Recording company) until the change of name to the former in 1924. The main IBM headquarters are still in New York. It was essentially an amalgamation of various companies which dealt in the sale of commercial scales, time recorders, meat slicers, and other machinery. The company had over 1,000 employees in various states throughout the United States. Right from the earlier days, they have invested in employee education programs, hired the first-ever disabled employee. They were the first-ever tech company to expand out into other countries, as they did in Brazil in 1917. In 1920, the first-ever tabulating machine was invented. 

In the 50s they became contracted with NASA for the upcoming space exploration missions, specifically the Apollo 11 mission, which eventually helped them for the moon landing. IBM made it possible with their System 360, which is one of the most important contributions in the history of mankind. In the same decade, they were able to invent the first magnetic hard disk drive. They were also culturally diverse, hiring people of other races and colors way before it was seen as normal. Floppy disk and speech recognition were invented by IBM close to 5 decades ago. Lasik surgery was possible due to the laser which was produced by IBM. 

Employees working at IBM have also received awards and recognition for their exceptional work, as various scientists and innovators have won the Nobel Prize in various fields. IBM recognizes great talent and gives them a platform to innovate and improve the world, one step at a time. 

On A Final Note

IBM cares about the well-being of its employees by offering them various benefits. They’re provided along with the salary as a non-wage compensation. Employee benefits play an essential role in the success of a company, IBM makes sure to provide all the necessary perks, offering them everything from insurance to paid time off (PTO), you name it, they have it covered! IBM has all the basic benefits that the law requires them to provide, but on top of that, they have additional perks, just for the betterment of their employees. This helps them retain their employees and recruit new ones at the same time. Such benefits also relieve the stress off of some employees which are guaranteed to make them focus better and also leads to a significant increase in their performance.

Apart from being a leading giant in the tech industry, IBM believes in having long-lasting relationships with its employees as they’re the backbone of the company. With a diverse range of people from all walks of life, uniting under one roof to work together. IBM was and always will be diverse, increasing the benefits that they offer to their employees. IBM has set a landmark in the technology field, not only through their astonishing innovations but also through the way they treat their employees, with care and understanding.

Frequently Asked Questions (F.A.Q.) about IBM Employee Benefits

Q. How long is the Hiring Process At IBM?

A. You may apply online, the supervisors will get back to you for a phone interview. You will be asked to visit the IBM office for another round of interviews. HR will respond regarding your selection in a few days. So it can take anywhere from 4 days to a week.

Q. What are the working hours at IBM?

A. Typically for 8 hours, over-time if you’re available.

Q. How flexible is working at IBM?

A. It depends on your job and position but usually it is very flexible.

Q. How long do you have to work before getting maternity leave?

A. There is no specific set time that you have to work for, it benefits instantly upon your hiring.

Q. What is the work culture and overall environment like at IBM?

A. Good management and understanding co-workers with great work ethic and values. Diverse and talented people working together to achieve greatness.

Q. How many days of vacation/privilege leave do employees at IBM get?

A. The PTO and vacation policy gives up to 22 days off of every calendar year. 

IBM Employee Benefits- History of IBM

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