Working in a big company comes with a lot of benefits and those benefits help in making life during and after work easier. A big company like the Bank of America provides a lot of benefits and discounts to their employees. Let us know about “Bank Of America’s Employee Discounts”
Bank Of America’s Employee Discounts
Bank of America is an American multinational investment bank providing financial services across many countries. The bank of America is known for its good employer- employee relationship and they give a lot of benefits to their employees like financial and retirement benefits, family and parenting benefits, vacations and time offs and employee discounts. The employee discounts are reduction in prices of some services offered to the employees of the bank.
We will talk more about the employee discounts for Bank of America.
¶ Types Of Employee Discounts Offered In the Bank Of America
✓ Auto and car discounts
✓ Entertainment employee discounts
✓ Health and medical employee discounts
✓ Financial employee discounts
✓ Insurance and warranty employee discounts
✓ Travel and vacations employee discounts
✓ Pet offers employees discounts.
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Let’s delve into some of these discounts and see how it benefits the employees and improves their wellbeing
✓ Auto And Car Employee Discounts
The bank of America provides discounts to their employees on auto services like car servicing, auto warranties, car buying services ; they provide discounts on the purchase of some cars. They also give discounts on car insurance and they give car auto loans sometimes. Employee discounts covering the purchase of car parts and accessories is also given. Discounts are also given on car tires.
✓ Entertainment Employee Discounts
These are discounts given to workers on entertainment, relaxation and enjoyment services. The discounts include golf discounts, Theme park discounts, movie ticket discounts covering some movies and peculiar to some cinemas or movie houses. Also discounts are given on magazine and newspapers as they are sold at reduced prices to Bank of America employees.
✓ Health And Medical Employee Discounts
As we all know that health is wealth and without a good health, the workers will lag in their occupational duties. Therefore the company provides some medical benefits and discounts to their employees. Some of the health discounts include discounts on medical bills, free checkup services, retiree health and medical health care on-site. The medical discounts cover health services in dental care, optical care and so.on
✓ Insurance And Warranty Employee Discounts
Another type of discount is the one covering insurance and warranty. There are different kinds of insurance benefits offered to Bank of America employees. Examples are : Accidental death and dismemberment insurance, supplemental life insurance etc. Also, discounts are provided for insurance schemes undertaken by their employees.
✓ Financial Employee Discounts
This covers financial rebates and aids given to the employees in the bank. Examples include credit cards, credit repair, home loans for workers who are building their houses or who wants to build houses and are in need of loans, personal loans for different reasons most especially when emergency needs arise,ID monitoring and protection etc. Most of these services are offered by the bank itself since it is a financial organization and their workers using their services advertises the company to outsiders or potential customers.
✓ Travel And Vacations Employee Discount
After a whole long period of work probably months or year, the employees are allowed to go on travels and vacations. The airlines and flights will be boarded at a discounted rate and car rental services also are discounted. The bank provides discounts to their workers on hotels lodged in. Some specific camping and resort offers and deals are also given at discounted price to the workers.
✓ Pet Offers Employee Discounts
Discounts are given to employees even on their pet insurance and pet care services.
¶ What Is The Vacation Policy Like In Bank Of America
As a full time employee, you are entitled to vacation leave/time once in a year. But it is worthy to note that as a contract employee, there is no vacation days.
At start as a full time employee, you get 2 weeks but in subsequent years you get 2 weeks and 5 days, approximately 3 weeks of vacation leave. You can purchase an extra Vacation week during the benefits enrolment each year. The full-time employees are also entitled to 2 weeks of sick time. After 15 years of service, you can get as long as 4 weeks vacation leave and you can also purchase an extra Vacation week during the benefits enrolment each year.
Now we have learnt “Bank Of America’s Employee Discounts”, As you have seen and read through, We believe you would already be dreaming of working in the Bank of America because they offer very good employee discounts which cut across almost all spheres of the afterwork life and even the work life.
You can check out the Bank of America website at www.Bankofamerica.com to know more about what it does, other employee discounts and how to become an employee.
• Frequently Asked Questions (FAQs)
1) Is employee discount a benefit?
Employee discount is the discount given on the original prices of goods and services by the company to their employees. An employee discount is given as one of the benefits employees enjoy. Therefore, an employee discount is also a benefit.
2) What does the Bank of America gain from offering employee discounts?
The offering of employee discounts to employees serve as a lure to make more employees to be hired. It makes the employer’s recruitment efforts more successful because the employees and potential employees get lured by the employee discounts.
3) What Is employee benefits enrolment?
Benefits enrollment is defined as a period when employees can enroll in services offered by the company as part of an overall benefits package. An employee will go through initial benefits enrollment after onboarding and benefits will start after meeting any time threshold, like a 60-day introductory period before benefits are active.
