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Gen-Probe offers a comprehensive benefits program providing you and your family with protection and security.
All regular full time employees receive the following benefits:
401k Plan
Employee Stock Purchase Plan
Stock Options for all employees
Employee Bonus Program
Medical Insurance
Dental and Vision Insurance
Basic Life and Accidental Death & Dismemberment Insurance
Supplemental Life and AD&D Plan
Long Term Disability
Flexible Spending Accounts
Employee Assistance Program
Educational Assistance Program
Paid Vacation
Sick Leave
Holidays
Employee Events and Recognition
Other Benefits: Wellness Program, Work/Life Assistance Program, On-site Gym, On-site Car Wash, On-site Cafeteria
401k Plan
A 401(k) Plan is one of the best ways employees can save for retirement. Gen Probe provides eligible employees with an excellent 401(k) plan, generously matching 50% up to the first 6% of employees' contributions, subject to IRS limitations.
Employees can defer 1% - 100% of their salary, up to IRS limits, with these benefits:
- Tax savings on pre-tax contributions
- Tax-deferred earnings
- Choice of investment options
- Convenience of payroll deduction
- Flexibility to change investments & deferrals
- Access to savings through loan & withdrawal provisions
Gen Probe employees can enter the plan upon date of hire.
Employee Stock Purchase Plan
This program provides regular, full time and part time employees the unique opportunity to purchase shares of Gen-Probe stock at a discounted price. Enrollment in this program takes place twice a year, in January and July. There are no fees associated with the purchase of stock in this program and there is no required holding period.
Stock Options
Stock Options are provided to give employees the opportunity to share financially in Gen Probe's growth and financial success. All regular, full time employees receive new hire stock option grants, subject to vesting schedules and terms and conditions outlined in the Employee Stock Option Plan document.
Employee Bonus Program
Bonuses are a key component of Gen-Probe's compensation program and provide another
means, in addition to base salary, to provide performance-based compensation to employees
throughout the company. Gen-Probe's bonus programs reward employees for their individual
contributions as well as the financial success of the company.
Medical Insurance
Gen Probe provides all eligible employees with one of the most benefit-rich health insurance programs available.
Employees may select either a PPO (Preferred Provider Organization) medical plan or an EPO (Exclusive Provider Organization) plan. The PPO plan pays for benefits provided by both network and non-network providers but services are subject to deductibles and co-insurance. The EPO plan pays for benefits provide by network providers only. Preventive services are covered at 100% with a $15 co-payment but major medical services are subject to a 10% co-insurance and co-payment.
The company pays 100% of the medical premiums for eligible employees. Employees who want to add their dependent(s) to the plan will contribute $20 per pay period towards the premium.
These medical plans-available on a national basis-include valuable prescription drug benefits with mail order privileges and low co-pays. Eligibility for the health insurance coverage begins immediately upon the date of employment.
Dental/Vision Insurance
Gen Probe offers eligible employees Freedom of Choice dental and vision plans from which employees may choose their own provider.
Gen Probe also pays 100% of both dental and vision premiums for eligible employees. The dental and vision plans' premium is bundled up with the medical plan. Employees with dependent(s) don't pay an extra premium to be covered under these plans.
The vision plan covers one exam every 12 months and a maximum reimbursement of $100. Eyeglasses or contact lenses are allowed every 24 months and a maximum reimbursement of $200.
As with the medical plan, eligibility begins immediately upon the date of employment.
Life Insurance/AD&D
As a regular, full-time employee of Gen Probe, you are covered by a company paid Life/Accidental Death & Dismemberment Policy. The benefit of this policy is equal to one times your annual base salary.
This valuable policy includes accelerated benefits, survivor support & financial consulting for beneficiaries. Unlike many other corporate life insurance policies, this protection is fully portable-allowing you to take it with you when you leave Gen-Probe.
Employees also have the option of buying additional life insurance* at very competitive rates without evidence of insurability.
*Up to a designated amount
Long Term Disability
If you are unable to work for more than 90 days due to qualified disability, Gen Probe provides its regular, full time employees with a generous long-term disability insurance plan.
An employee is eligible for LTD the first day of the month following 90 days of continuous employment.
Income from the LTD policy is offset by funds received from social security, workers' compensation, and other similar programs.
Flexible Spending Accounts
Unreimbursed medical/dental expenses, dependent care costs, and certain transportation expenses can be paid with pre-tax dollars through participation in Gen Probe's Section 125 Plan.
Employees annually allocate a portion of their pre tax pay for qualified expenses.
There is no charge to participate in this valuable plan. Those who decide to participate realize more disposable income.
Employee Assistance Program (EAP)
At times, employees may encounter personal difficulties that can affect your relationships, job performance, and physical health.
Gen Probe realizes this and provides its employees-both regular full time and part time employees-with professional, confidential initial counseling services at no cost to you.
This valuable assistance is available 24 hours a day, seven days a week to both the employee and members of the employee's household.
Licensed clinical professionals offer counseling in a wide range of concerns including: relationship & family difficulties, personal problems, stress, work conflicts, alcoholism, & drug abuse.
Educational Assistance Program
Gen Probe promotes and encourages the professional growth of its staff through continuing education. Full time employees may be reimbursed for registration fees, tuition costs, and required textbooks up to $2,000 per calendar year for undergraduate classes and up to $5,000 for graduate classes.
This financial support is provided for specific courses and educational skills that will enhance an employee's current or future work-related abilities at Gen Probe.
Regular, full time employees are eligible for Education Reimbursement after six months of service.
Annual Paid Vacation
Our vacation plan is designed to provide you with the opportunity to rest and get away from the
everyday routine. If you are a regular, full-time employee or extended part-time employee, you
accrue vacation on a bi-weekly basis. Extended part-time employees accrue vacation allowance at a rate of 75% of that of a full-time employee.
Sick Leave
Regular, full-time employees accumulate one day of sick time per calendar month. A maximum of 20 sick days can be accumulated.
Holidays
- New Year's Day
- President's Day
- Memorial Day
- Independence Day
- Labor Day
- Thanksgiving Day
- Day after Thanksgiving
- Christmas Eve
- Christmas Day
- New Year's Eve
- Company Designated Floating Holiday
- 1 Personal Holiday
Employee Events and Recognition
To further recognize our employees for their hard work & dedication, we provide the following:
- Exceptional Performance Awards
- Annual holiday party
- Annual summer picnic
- Year end all employee meeting
- Service awards
- Discounted Movie Tickets
- Periodic company wide status update meetings (TG)
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