The GWC Valve International team is able to give their employees different benefits if the employees agree to take them. Benefits whether if it is voluntary employer sponsored benefits or government mandated benefits, they both allow employees to have higher job satisfaction and feel more comfortable while at work knowing they are covered for several things that can occur to anyone.
The GWC Valve International company actually offers their employees voluntary employer sponsored benefits such as life insurance, supplementary healthcare and medical insurance, retirement benefits and employee assistance programs. When it comes to life insurance, there are four different plans such as group life insurance which is life insurance provided at a lower rate for all employees, including new employees, regardless of health or physical condition. There is accidental death and dismemberment, which is a fixed lump-sum benefit in addition to life insurance benefits when death is accidental. Then there is critical illness insurance, which is also a lump sum of money given to employees who are diagnosed with and survive life threatening health issues. For the supplementary healthcare and medical insurance there are insurances offered at group rates, which makes it cheaper for each employees. There are deductibles offered, cover expenses, coinsurance and even retiree health benefits offered to their employees. When it comes to the retirement benefits this is an employer-sponsored pension plan that has two categories including a defined pension plan which is a plan that contains a formula for determining retirement benefits and there is a defined contribution pension plan which is a plan where the employer’s contribution to the employee’s retirement fund is specified. There is phased retirement where the employee gets a reduced workweek to ease into retirement and a supplemental, which is for high earners. Finally there is an employee assistance program that is designed to help employees cope with personal problems that have the potential to interfere with their job performance.