Case Study: Geico

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Case Study: GEICO: Total Rewards Approach 1. Determine which facets of the GEICO total rewards program align with the five (5) top advantages of total rewards program outlined in Chapter 2 of the textbook and discuss your reasoning. GEICO has several different types of programs that help benefit their employees. One program is Your Health and Well-being which includes plans such as medical, dental and vision; an associate assistance program (AAP); long-term disability (LTD) and physical fitness. This program is flexible, improves recruitment and retention, heightens Geico’s visibility in this tight market and will over-all enhance their profitability. Education and Development is another program that GEICO has to help their employees stay balanced in life and career choices, which include tuition reimbursement, insurance studies program GEICO University, virtual mentor, job post, GEICO family scholars program. The amenities and perks that are given to their employees include GEICO Federal Credit Union, many locations have fitness facilities or offer exercise classes, have onsite cafeterias, and provide education and training classes through GEICO University. The next program that GEICO has is the finance and retirement section. This portion of the program helps employees plan for their retirement by giving them investment options that include traditional and Roth 401K plans, profit-sharing plan, flexible spending accounts, life insurance, accident insurance, associate assistance program and matching gifts program. Because of the variety of option, this program is aligned with the top 5 advantages of the total rewards program. They also have Time Off and Leave Programs that include paid vacations and holidays, sick days and leave programs. Family and Life programs are also included in their total rewards package and include dependent care FSA, adoption

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