COMPENSATION STRATEGIES OF APPLE

1. FINANCIAL
Apart from the competitive base salary offered by Apple, one of the main financial benefit
offered by Apple is the 401K plan, which is a retirement plan for the employees where the
employees will save up to 4% of their salary for this plan, and they get to make savings for
their retirement following their own pace. Apple also offers bonus pay to the employees
based on work performance, and their significant contribution towards the achievements of
Apple. Thirdly, the employees are also provided with Daycare Flexible Spending Account
for savings related to childcare or eldercare, and the savings can be withdrawn to cover those
expenses. Then, disability program is also provided to disabled employees, where the main
purpose is to ensure that the disabled employees will still be financially supported even when
they could not work. The employees can opt for the long term disability coverage when their
short term coverage has expired. Next, the employees also get paid time off, in which the
number of paid time off depends on the employee’s period of working in the company.
Other benefits under financial benefits include parental leave, paid volunteer time off,
commuter benefit, childcare discount and adoption assistance reimbursement.

2. HEALTHCARE
One of the healthcare benefits offered by Apple to the employees is health insurance, which
covers different types of examinations and procedures. Secondly, the employees are also
offered health plan incentives, where the employees can learn about healthcare and how to
improve their health, from various resources provided by Apple. Thirdly, the employees also
have healthcare spending accounts to be used for medical purposes, where the savings for
this account is tax-free and will be carried over to the upcoming year. Then, Apple also have
a vision plan for their employees where the employees will get different types of exams and
procedures for their vision, as well as medical vision-related devices. Other healthcare
benefits include dental plan and maternity support program.

3. CAREER
One of career benefits is employee development resources. These resources are provided to
their employees so that they can go beyond their personal and professional limits, by getting
involved in various workshops and study groups to gain extra knowledge and experience on
things related to their field of work. Secondly, Apple also has an excellent on-boarding
program for their employees which is made to ease the employees to adapt to the working
environment at Apple. Thirdly, Apple also offer tuition reimbursement plan to their
employees who wish to further their studies. This tuition reimbursement program covers the
college degrees or certificates as a whole. Then, Apple also provide career planning to their
employees, regardless of whether the employee is in an entry-level position or at a higher
level position, and Apple also makes sure that each employee make full use of the career
planning opportunity provided. Apple also provide other career benefits include GED
reimbursement and employee recognition programs.

Reference:

BenefitsPRO.org. (2017, March 25). Compare APPLE’s Employee Health Insurance

and Benefits. BenefitsPro. https://www.benefitspro.org/reports/1793-compare-

apple-s-employee-health-insurance-and-benefits#:%7E:text=HEALTH

%20INSURANCE%3A%20APPLE%20offers%20a,health%20insurance

%20for%20every%20employee.&text=TELEHEALTH%3A%20APPLE

%20has%20an%20excellent,professionals%20all%20over%20the%20country.

Glassdoor, 2021, https://www.glassdoor.com/Benefits/Apple-US-Benefits-

EI_IE1138.0,5_IL.6,8_IN1.htm

Q&A SESSION

APPLE realizes that continuous education is a key to success. And to some

employees, higher education might be something they really wanted to have, but they

could not have it due to financial problems. Higher education might also be one of the

aspects for employees to achieve higher self esteem. Therefore feels its their

responsibility to offer the tuition reimbursement program to their employees.