Rovi offers highly competitive benefits and perks to our employees. At Rovi, we value your hard work, so benefits and perks are an important part of the total compensation package. Those incentives continue once you are on board, and we motivate, encourage and reward you for your efforts.
Our benefits are designed to be competitive in our industry based on local market practices, legal and statutory requirements. We pride ourselves on going beyond the industry benchmark.
Medical, Dental and Vision
All benefits-eligible employees are provided the opportunity to enroll in medical, dental and vision insurance plans. If dependent coverage is elected, insurance is also provided to their eligible dependents. Additionally, domestic partner coverage is available.
Employees have a choice of medical coverage among three Aetna PPO plans, Kaiser Permanente (CA and CO only) and two Blue Care Network (BCN) plans (MI Only). Dental and orthodontia coverage are provided through MetLife Dental and Vision Service Plan (VSP) provides vision coverage.
Full-time employees working at least 30 hours a week are eligible to participate in Rovi’s benefit plans as of their date of hire. Part-time employees are also eligible for benefits if they have completed two or more years of service making a certain minimum of salary per year with no hours of eligibility required.
Health Care Spending Account and Dependent Care Assistance Plan
Rovi offers employees the opportunity to enroll in a Health Care Spending Account (HCSA) and Dependent Care Assistance Plan (DCAP), which are governed exclusively by applicable laws and regulations. These plans allow employees to pay for medical and/or dependent care expenses using pre-tax income, thus avoiding federal, state and social security taxes on those amounts.
Health Reimbursement Account
Rovi makes a contribution to a Health Reimbursement Arrangement (HRA) for all of its benefits-eligible employees, even if they choose not to participate in the medical and/or dental plan. The company’s annual contribution accrues each pay period of the plan year for all eligible Rovi employees.
Life and AD&D Insurance
Rovi purchases Life and Accidental Death and Dismemberment insurance for all benefits-eligible employees, at no cost to them. Basic Life insurance protects our employees’ families (or beneficiaries) from a loss of income in the event of their death. AD&D insurance provides additional protection for their beneficiaries in the event of an accidental death or loss of limb or sight. The policy provides a benefit of two times their base annual earnings plus $15,000, up to a maximum of $515,000 for both Life and AD&D.
Rovi provides short-term and long-term disability insurance at no cost to our employees.
Short-Term: Benefits due to injury, illness or pregnancy are payable at an amount of 70 percent of weekly base earnings to a maximum of $3,464 per week, less any amounts received under state disability. Benefits begin on the 15th day of disability, up to a maximum period of 90 days.
Long-Term: Should an employee remain disabled beyond the 90 days covered under the Short -Term Disability plan, our employees may be eligible for an income replacement benefit under the Long -Term Disability program. Benefits begin after an employee has been totally disabled or residually disabled, as defined by the 90 day policy. The monthly benefit provided is 60 percent of the pre-disability monthly base salary, up to a maximum benefit of $15,000 per month.
Employee Assistance Program (EAP)
Everyone needs help dealing with life’s challenges from time to time. Our employees and their families can get help that’s easy, convenient and confidential. The EAP offers confidential assistance with day-to-day issues, so our employees can be at their best. EAP services are available at no cost to all of our employees and their families.
Health Advocate provides assistance for questions and complicated health needs. A registered nurse is assigned as an employee’s Personal Advocate and will assist with clinical services such as finding the correct doctor, advising on medical conditions and navigating the health care system. Health Advocate also provides administrative services including resolving claim issues and explaining medical bills.
Rovi complies with state and federal laws requiring insurance coverage to protect our employees who may be injured or become ill, during or as a result of their jobs. Workers’ compensation insurance provides medical, surgical and other benefits, including wage-loss protection, at no cost to our employees.
Employee Stock Purchase Plan (ESPP)
Upon eligibility and enrollment in an Offering Period (24 months), this plan allows employees to purchase Rovi stock at two purchase dates per calendar year at a discounted rate. Contributions into the plan are made via a payroll deduction in an amount between one percent and 100 percent of compensation, not to exceed your net paycheck (after taxes and other deductions). The purchase price is 85 percent of the lesser of the fair market value of the Company's stock on the first day of the Offering Period or the last day of the same Purchase Period (six months), whichever is lower.
This plan allows employees to reduce their compensation and have the amounts contributed into a tax-deferred savings plan that accumulates for their retirement. Through payroll deductions, employees may direct one percent to 60 percent of their salary (subject to the annual IRS maximum) as pre-tax earnings into the Plan. Rovi will match $.50 on the dollar for every dollar they contribute (up to six percent). Matching funds are subject to a three-year vesting schedule.
Rovi grants a minimum of 11 paid calendar holidays. Additionally, employees will be granted one Floating Holiday. The Floating Holiday cannot be carried forward into the following year and is not convertible to cash.
Flexible Time-Off (FTO)
Our non-exempt employees accrue four weeks (160 hours) per year for service years one through four and five weeks (200 hours) per year after five years, with a six-week (240 hours) cap. Exempt employees have the flexibility to work out their time-off needs with their management team. Rovi also has Bereavement and Jury Duty Time-Off policies.
Leaves of Absence
Rovi provides several kinds of leaves of absence for full-time employees. In addition to extended leave of absence, we recognize our employees may need time off from work for compelling personal reasons, civic duty or military obligations.
Rovi provides financial assistance for the continuing education of our employees. Coursework will be considered for approval and reimbursement if it is related to the employee's present or probable next position with Rovi, or if it is required as part of a program leading to a job-related degree. Reimbursement will be given to regular, full-time employees after completion of 90 days of employment. Employees enrolled in degree programs prior to their hire date are not eligible for tuition reimbursement for completion of their regular program unless they receive written approval at the time of hire.
Time Off for Charity Work and Matching Contributions
Rovi believes in giving back to the community; therefore we provide two paid days off in the course of a full year for approved volunteerism. The charitable agency needs to be a recognized humanitarian agency versus, for example, a non-profit fund-raising event for a school.
Do you have a favorite charity you like to donate to? Rovi will make a matching contribution of up to $100 (U.S) per year, when a full-time employee makes a personal, charitable contribution to a federally-recognized 501(c)(3) charity of his/her choice.
Health Club Membership
In order to promote the health and well-being of its employees, Rovi reimburses one-half the cost of an annual health club membership at the club of the employee's choice, up to a total reimbursement of $300 (U.S.) per calendar year.
For transit riders, our commuter benefit allows employees to receive up to $2,760 per year in Commuter Checks as a pre-tax payroll deduction.
Bonus and Incentive Programs
Rovi offers a number of bonus and incentive programs to employees as a way to encourage and reward their efforts. These include an Annual Company Incentive Plan, Performance Bonuses, Special Recognition Awards, Patent Awards and Referral Bonuses, to name just a few. Our Inventions and Rewards Program (IRP) is used to encourage and reward inventive effort within Rovi; all our employees are eligible.