UPSers Benefits: UPS (United Parcel Service) is world’s leading global provider of specialized transportation and logistics services. UPS was initially known as American Messenger Company which was established in the year 1907 in Seattle, Washington. Later in 1919, the company expanded for the first time outside of Seattle to Oakland, California and changed its name to United Parcel Service (UPS). Total of 4,34,000 employees works for the UPS. UPS offers various benefits to its employees and in this article, we have provided the same in detail. Have a look at UPSers Benefit Programs, which we have discussed below.
UPSers Benefits Program:
UPS (United Parcel Service) offers various exciting benefits to its employees. The UPSers benefits include Insurance, Health-related benefits, Medical Support, Training Assistance, etc. All these benefits are listed below and have been explained in particular.
Health and Wellness Programs
UPS offers various Health and Wellness Programs to its employees. In addition to various Health and Wellness Programs, UPS makes contributions in union-administered plans for the welfare of its employees.
There are different variations in the plans offered by UPS. Below, we have provided the company’s award-winning plans/benefits:
- Prescription Drug Program
- Life Insurance
- Supplemental Group Universal Life Program
- Business Travel Accident Insurance
- Sickness & Accident Insurance
- Long-Term Disability with Inflation coverage
- Long-Term Care Insurance
- Child/Eldercare Spending Accounts
- Healthcare Spending Accounts
- Cancer Insurance
- Work-Life Balance Programs
Compensation and Savings Program
UPS provides the Compensation and Savings Program to its employees which include the below-mentioned plans. Below, we have provided the Compensation and Savings Program offered for the UPSers.
- Employee discounted stock purchase plan – UPS believes that long-term ownership of the company by UPSers is an important contributor to the future success of UPS. Sharing in the rewards and risks of ownership strengthens the commitment of the people working at UPS i.e. full-time and part-time, management and non-management, union and union-free, which is critical to their ability to empower global commerce. Employees at UPS can also purchase the stock through the Discounted Employee Stock Purchase Program and their 401(k) plan. As a part of retirement, UPS offers the UPSers 401K plan to its employees by UPS Teamster 401k Savings Plan. A 401k plan is an effective and convenient way to save money for the future. It allows employees to save and invest money over long-term for a safe and secure future. Using this 401(k) plan, UPSers can purchase the stock.
- Competitive salaries– UPS offers highly competitive hourly wages, exciting salaries, and total compensation plans to its employees. Right from its drivers to its IT professionals, UPS employees are recognized as best paid in the industry.
- Managers Incentive Plan (profit sharing)
UPS Tuition Assistance Program:
In order to help the employees in furthering their educational development, UPS offers the UPS Tuition Assistance Program (TAP). TAP is an ongoing effort of UPS to recruit, re-train and develop qualified individuals. TAP ensures that UPS will continue to grow as a company, prosper as a business and excel as a global service.
In the United States, tuition assistance is available to:
- Full-time non-union employees
- Part-time management employees
- Part-time union employees
Tuition Assistance Program (TAP) was started in the year 1999. Since the program has begun, UPS has invested $187 million in tuition assistance for approximately 113,000 college students. In 2010, UPS has provided $24 million in tuition support to approximately 14,000 students. UPS invests about $300 million approximately in a year on training programs in order to help the employees expand their careers within the company.
You need to visit the program administrator EDCOR if you want to know more about the program and its eligibility requirements. You can also check the application process for training programs through program administrator EDCOR.
If you are interested in an online undergraduate program, you can learn about the other programs available to UPSers through Thomas Edison State College.