Verizon is a telecommunication company that has a presence in multiple nations. The headquarters of Verizon is in Newyork city. Around 1,18,000 employees are working at Verizon. Verizon offers a wide range of discounts to support its employees. Let us know about the ‘Verizon Employee Discounts’.
Following list of discounts offered by Verizon to its employee
- Insurance discounts
- Health and Wellness discounts
- Retirement discounts
- Family and Parenting discounts
- Vacation and Time off discounts
- Perks and Discount discounts
- Professional Support discounts
1. Insurance discounts
To protect its employees from paying high hospital charges during their treatment in hospitals, Verizon is offering a wide range of Insurance discounts. Verizon is offering insurance discounts not only to the member but also to the family members of the employees. Various Insurance discounts include Health Insurance, Dental Insurance and Vision insurance.
A family with one breadwinner will become clues about their future concerning financial issues when the breadwinner dies. Verizon not only cares for its employees but also for its employee’s family members. Verizon comes with Life Insurance Policy to help families who face such a situation in the future.
A person may become temporarily disabled due to accidents within or outside the work atmosphere. To support those workers, Verizon provides Temporary disability insurance. Verizon also offers Permanent disability insurance for permanently disabled employees.
Supplemental Life Insurance and Accidental Death insurance are other insurances offered by Verizon.
2. Health and Wellness discounts
Verizon expects its employees to be good at physical and mental health. Verizon invests billions of dollars in its employees in keeping them fit and healthy through various health benefit programs.
Verizon provides free cholesterol, blood pressure, blood sugar tests and flu shots. Verizon has introduced an app for its employees to monitor their health scores. When the health score of an employee is low, Verizon makes free meeting arrangements with physicians to improve their health. Verizon also has a health team to monitor employees’ physical and mental health conditions.
Verizon’s Health and Wellness discounts package includes Health Savings Account, Health Care on-site, Retiree Health and Medical care.
3. Retirement discounts
Most companies do not offer retirement discounts to their employees. This makes the employees worry about the fulfilment of their financial needs post-retirement. Verizon employees never get this thought into their minds because Verizon offers various Retirement discounts to them.
The Retirement discounts offered by Verizon are the 401K plan, Pension plan, Retirement plan and Stock option program.
A retirement savings plan offered by Verizon is known as a 401K plan. According to the plan, Verizon will create an account in the name of an employee. Every month before depositing the income in the accounts of its employee Verizon will deduct some portion of the income and deposit the income in the retirement savings account of the employee. Tax will be charged only for the income credited to the salary account of the employee. The 401K plan also reduces the taxable income of the employee.
The main objective of the retirement plan is to provide monthly benefits to the employees post-retirement. The retired employee will receive the benefit till their lifetime. It helps the employee to live a happy post-retirement life.
Verizon’s stock option programs allow employees under the Director level to purchase Verizon’s stocks between 100 to 700 based on the designation of the employee. Employees will be allowed to withhold the stakes for three years. After three years the employee will be returned with huge profits.
4. Family and Parenting discounts
Verizon understands every employee has a personal life. To give respect to everyone’s personal life Verizon offers Family and Parenting benefits. Family and Parenting benefits include Maternity and Paternity leave, Work From Home, Fertility Assistance, Adoption Assistance, Flexible hours etc.
Verizon understands the difficulties suffered by women during their pregnancy period. To aid pregnant women Verizon offers Maternity leave. During a woman’s Pregnancy period the role of a husband in supporting her is essential. To support the couples Verizon offers Maternity and Paternity leave from 8 weeks up to 16 weeks with 100% base pay.
These days parents are not spending time with their kids due to work pressure. Kids are not getting love from their parents. They miss their parents so badly. To overcome this issue Verizon is offering work from a home feature for their employees. This helps parents to look after their kids and kids can get the love of their parents.
Verizon also provides assistance and counselling in Fertility and adoption. Their support obviously encourages and motivates the couples.
5. Vacation and Timeoff discounts
A routine working life will make the employees fed up with their work. A pause is necessary not only for work but also for everything we do. After the pause, we will get the energy and passion to do the work. Verizon has understood this concept clearly. So it offers Vacation and Timeoff discounts.
Verizon offers paid holidays for the Nation holidays. It also provides paid sick time leave to support its employees at the time of their bad health conditions. Verizon also provides paid vacation for its employees. It pays for all the expenses done during the vacation of an employee.
6. Perks and Discounts
Verizon offers discounts on monthly paid subscription services of an employee. The discounts on monthly paid services include Gym membership and mobile discounts. For pet lovers, Verzion provides discounts for creating pet spaces. It also provides the company’s car for personal use.
7. Professional Support Discounts
Every professional needs to upgrade their skills to stick to their profession. To upgrade their skills an employee needs to spend the money from his pocket. Verizon does not want their employees to do this because they are offering premiums for all the courses an employee wishes to learn. Through Employee Assistance Program Verizon offers free counselling programs to solve all the work-related problems of an employee.
Verizon is like a parent and its employees are its children. Parents take care of their kids in all aspects of their life. In the same way, Verizon acts like a parent by taking care of its employee discounts personal life as well as professional life. In a nutshell, Verizon is another family to the employees who work at Verizon.
Frequently Asked Questions
1. Does Verizon give out discounts?
Yes, Verizon gives out discounts.
2. Does Verizon give discounts to retirees?
Yes, Verizon gives discounts to retirees.