McDonald’s Employee Benefits and Perks 2021
Considering privileges, perks, and benefits offered to employees, McDonald’s is absolutely the most favored and admired workplaces throughout the world.
Yes, McDonald’s works for employee’s futures supporting them to build better lives for their families.
McDonald’s is doing so by offering competitive pay, career development through various training programs, advanced training, McDonald’s Employee Discounts, and, most of all, a chance to move up.
No matter what goals associates set for themselves, McDonald’s helps them thrive professionally and personally by offering a variety of education benefits.
So, if you’ve newly appointed to McDonald’s restaurant, or not sure about what McDonald’s Employee Benefits and privileges offered to you at McDonald’s, then please go through the article below and assist yourself for the same here.
Objectives behind offering McDonald’s Employee Benefits and Privileges
McDonald’s Corporation is an American fast-food company best known for its hamburgers, cheeseburgers, and french fries and they feature chicken products and desserts. Founded in 1940 by Richard and Maurice McDonald, in San Bernardino, California, it is now the largest restaurant chain by revenue and serving foodies.
With approximately 40000 outlets to over 69 million customers daily in over 100 countries, McDonald’s thinks that they can’t serve clients without their dedicated employees. To assist its associates, the retailer is offering jobs at all levels and investing in the workforce through training and skills development so that all jobs lead to careers.
McDonald’s offers great benefits, perks, and rewards that support physical, financial, and emotional well-being that encourages employees to work happily with the company. Through this, they want to ensure a steady source of cash later in life for the employer’s family also helps them to save and invest for retirement to ensure a steady source of cash.
So, if you’re new to any McDonald’s or considering joining the restaurant, take a look around reading what attractive beneﬁt you can get besides attractive salary packages.
Your Health and Protection
Protecting employees and their family’s health and financial future is important. That’s why McDonald’s offer the following plans:
- McDonald’s offers three Preferred Provider Organization (PPO) medical plan options that use the First Health network of providers.
- All three of the plans feature a prescription drug program and an unlimited lifetime benefit maximum.
- The plans have different benefit levels and pay more for in-network covered costs than for out-of-network covered costs.
- In addition, McDonald’s medical plans cover preventive care including annual physical exams for employees and covered family members, well-baby care, and child immunizations and inoculations.
- McDonald’s dental plan covers a wide range of dental services.
- Preventive services, including sealants for children, are covered at 90% with no deductible.
- Basic and major services are covered at 80%, after a deductible.
- The plan also covers 50% of eligible orthodontia expenses for adults and children after a one-time deductible.
Employees enrolled in McDonald’s medical plans may elect the vision supplement plan that provides coverage for eyeglasses and contact lenses, plus a mail-order contact lens replacement program, and discounts on Lasik laser vision correction surgery.
- The flexible spending accounts let employees set aside pre-tax dollars to pay for certain health care and daycare expenses.
- Employees at Mcdonald’s can set aside up to $5,600 in the Healthcare Spending Account for expenses not covered or only partially covered by their medical and dental plans.
- For daycare expenses that allow employees or their spouses to work, they can set aside up to $5,000 in the Day Care Spending Account.
Short and long-term disability
- Both short and long-term disability coverage is provided at no cost to employees.
- Short term disability provides benefits if an employee cannot work for more than 10 consecutive days; how long benefits continue depends on the nature of the employee’s disability and years of service.
- Long term disability coverage replaces 60% of the employee’s monthly base salary in case of disabled.
Employee and dependent life insurance
McDonald’s provides basic life insurance of two times the employee’s base salary at no cost to the employee.
In addition, employees can purchase additional life insurance coverage for themselves (either term or universal life).
Basic dependent life insurance for their spouse or domestic partner and/or children is also provided at no cost to the employees with an option to purchase additional dependent life insurance coverage.
Accidental death and dismemberment insurance
McDonald’s provides AD&D coverage equal to two times the employee’s base salary if an employee dies or is seriously injured in an accident.
Travel and business travel accident insurance
McDonald’s provides travel accident coverage of two times an employee’s base salary at no cost to employees.
Travel accident insurance pays benefits in the event of an accident when traveling for either business or personal reasons.
Depending on the employee’s position, this coverage is either $100,000 or $200,000 and is in addition to travel accident coverage.
Investing in Your Future
Taking care of employee’s current and future financial needs can be challenging.
That’s why McDonald’s offer the following savings and money management programs:
Mc$ave is a special money market fund for McDonald’s employees where funds are invested in the Prime Reserve Fund managed by T. Rowe Price.
MCDirect Shares is a direct stock purchase plan that lets employees further build ownership and reinvest dividends in the company.
Financial Planning Services
This program gives employees access to professional financial planning services through Ameriprise Financial or Merrill Lynch.
Profit-Sharing and Savings Plan
McDonald’s Profit Sharing and Savings Plan let employees save from 1% to 50% of their pay on a tax-deferred basis in the 401(k) feature of the plan.
McDonald’s matches eligible employees’ contributions with $3 for each $1 of the first 1% of pay they contribute, and $1 for each $1 on the next 4% they contribute.
Eligible employees may also receive a discretionary profit-sharing match of 0% to 4% based on the first 1% of pay they contribute. Employees are always 100% vested in their contributions and the company matches.
All McDonald’s employees can take advantage of a full range of services available through the Corporate America Family Credit Union.
Your Pay and Rewards
McDonald’s pay and rewards program follow a “pay for performance” philosophy: The better the results, the greater is the pay opportunities.
McDonald’s recognition programs are designed to reward and recognize strong performers including
- Presidents’ Award (given to the top 1% of individual performers worldwide) and
- Circle of Excellence Award (given to top teams worldwide to recognize their contributions for advancing our vision).
Incentive pay provides employees an opportunity to earn competitive total compensation when performance meets and exceeds goals.
McDonald’s offers Target Incentive Plan (TIP) plans for the corporate, division, and region offices that pay a bonus on top of employees’ base salaries based on business performance and their individual performance.
Employees’ base pay is the most significant portion of the compensation, McDonald’s maintains the competitiveness of our base pay that allows flexibility in terms of pay, movement, and growth.
Company Car Program
This program provides eligible employees with a company car for both business and personal use.
Eligible employees can choose from a variety of vehicles, depending on their level within the company covering the cost of insurance, maintenance, and repair
Long Term Incentives
Long term incentives programs are granted to eligible employees to both reward and retain key employees who have sustained performance and can impact long-term value creation at McDonald’s.
Helping Balance Your Work and Life
Balancing work with life outside of it can be challenging.
McDonald’s believes that it’s important to strike the right balance.
That’s why McDonald’s offers many programs designed to help employees maintain or regain the right balance.
- Vacation, Holidays
- McDonald’s offers paid vacation for corporate, region, and division office employees as well as Restaurant Management employees.
- In addition, McDonald’s also offers nine paid holidays (less for part-time) for eligible employees.
- Anniversary Splash – Eligible employees may receive an extra week of paid time off in the year when they reach an anniversary “on the fives” – their five, fifteen, twenty-five, or thirty-five-year anniversary.
- Short Fridays – From mid-May through mid-September, McDonald’s corporate, division, and region offices’ work hours begin a half-hour early in order to end early (1:00) on Fridays.
- Sabbatical Program – Eligible employees can take an eight-week sabbatical for every 10 years of full-time continuous service with the company.
- Child Care – McDonald’s has agreements with 3 national child care providers – Childtime Learning Center, Knowledge Learning Corporation, and La Petite Academy – for a 10% discount on tuition for employees.
- Leave of Absence – McDonald’s provides a leave of absence program with specific policies regarding types of leave such as family and medical leave, adoption leave, and funeral leave.
- Adoption Assistance
- This program helps employees afford the costs associated with adopting a child under age 18.
- Employees are reimbursed for 80% of eligible expenses, up to $2,500 per child.
- Educational Assistance
- McDonald’s educational assistance program helps support eligible employees in their efforts to further their education.
- Employees can get reimbursed for 90% of eligible expenses, up to a maximum of $5,250 a year ($2,000 a year for part-time employees), for grades “C” and above
- Matching Gift Program designed to encourage employee support of not-for-profit organizations. With this program, McDonald’s matches employee gifts to qualified educational, civic, cultural, health, and youth organizations with one dollar for every dollar the employee contributes, up to $5,000 a year.
- BeyondWork is a free Internet discount program for recreational products and services.
- International Fitness Club Network – Employees may receive discounts on new membership or other rewards for existing membership at participating clubs nationwide, discounts on home fitness equipment, and online health and fitness information.
- Employee Resource Connection – This program gives eligible employees access to a broad array of services that help them manage many facets of their life outside the office.
Summary of McDonald’s Employee Benefits and Discounts
Here is a brief account of all McDonald’s Employee Benefits and Discounts –
- Pay for Performance
McDonald’s Stock Purchase Plan
- McDonald’s 401(k)
- Meal discounts
- McScholars tuition matching program
- Archways to Opportunity
- Bi-yearly reviews
- Excellent training
- Paid breaks
- Flexible schedules
- Prescription drug card
- Dental insurance
- Vision insurance
- Life insurance
- Long-term and short-term disability insurance
- Generous holiday and PTO plan
- Flexible Spending Accounts
- Free uniforms
- Dollar allotment for meals
- Training courses (college credits)
- McScholars tuition matching program
- Scheduled reviews
- Archways to Opportunity
So, if you are thinking to build up a career at McDonald’s, make sure to read all McDonald’s Employee Benefits and Discounts offered by the restaurant to its employees.
Hopefully, you like the available information on McDonald’s Employee Benefits.
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