Jack Henry & Associates
Jack Henry & Associates, Inc. (NASDAQ: JKHY) was founded in 1976 as a provider of core information processing solutions for community banks. Today, the company’s extensive array of products and services are processing transactions, automating business processes, and managing mission-critical information for more than 11,900 financial institutions and corporate entities.
Jack Henry & Associates' products and services are delivered through three business units.
Jack Henry Banking®
Jack Henry Banking is a leading provider of the core and complementary solutions banks need to process financial transactions, automate business processes, and manage mission-critical information. Our original business line supports approximately 1,500 banks – ranging from de novo institutions to multi-billion dollar mid-tier banks – with three core systems and more than 100 complementary products and services.
Symitar is a leading provider of the core and complementary solutions credit unions need to process financial transactions, automate business processes, and manage mission-critical information. Symitar supports more than 750 credit unions of all asset sizes with two functionally distinct core systems and approximately 50 complementary products and services.
ProfitStars provides highly specialized products and services that financial services organizations of all sizes and diverse businesses outside the financial industry use to improve revenue and growth, mitigate and control financial and operational risks, and contain operating costs. ProfitStars provides approximately 65 products and services that have been implemented by more than 9,600 customers and enable Jack Henry & Associates to serve large nontraditional markets.
Jack Henry & Associates' primary and sustainable competitive advantage is its company-wide commitment to provide premier service levels. Jack Henry is driven by a fundamental commitment to provide service levels that consistently exceed its clients’ expectations, and generate industry-leading client satisfaction and retention rates.
Jack Henry & Associates maintains the focused work ethic and fundamental ideals fostered by its co-founders – Jack Henry and Jerry Hall. These fundamentals that have guided the company for more than three decades are:
- Do the right thing,
- Do whatever it takes, and
- Have fun.
These simple but powerful tenets have enabled Jack Henry & Associates to prosper in an extremely competitive business environment, to provide rewarding professional opportunities for its more than 4,400 associates, to generate an impressive rate-of-return for its shareholders, and to establish a corporate culture that generates rewarding levels of client satisfaction and retention.
- Medical PPO Plans (HMO available for CA residents)
- Dental PPO Plan
- Vision Plan
- Life & Accidental Death & Dismemberment
- Short-Term Disability
- Long-Term Disability
- Flexible Spending Accounts
- Health Savings Account
- Paid Time Off
- Paid Holidays
- Educational Assistance
- Employee Stock Purchase Plan
At Jack Henry & Associates (JHA), every employee plays an essential role in the success of our business. Our commitment to doing the right thing clearly extends to the various benefits that we make available to our employees and their families. We provide quality benefit programs that allow our employees to focus on maintaining a healthy balance between work and home.
When you are hired as a regular full-time Associate, you will have the opportunity to enroll in the programs which meet your needs. Most of our flexible benefit choices are effective after 30 days of employment. Below is a brief list of our benefits and some of the choices available to JHA employees.
Health and Wellness Programs
- JHA provides employee and family Medical Coverage through our Consumer HDHP, Value, and Premium PPO plans. The Consumer Plan is a Qualified High Deductible Health Plan and is available for the employee’s entire family, at no charge. The Premium and Value PPO plans require a pre-tax employee contribution. Employees in California also have an HMO option.
- Prescription Drug Coverage is a part of all medical plans. The employee is responsible for the full cost of each prescription under the Consumer Plan until the deductible is met.
- JHA also provides Dental and Vision plans for Associates and their families. These benefits are available with a pre-tax employee contribution as well.
- Additional Health and Wellness programs include: access to online personalized coverage information at any time, day or night; a toll-free customer service line, available 8 a.m. to 8 p.m. (CST); online receipt of Explanation of Benefits (EOB) forms; 24-hour nurse-line; and much more.
Tax Savings Plans
JHA employees have the opportunity to save on their taxes through the use ofFlexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs)
- Health Care Flexible Spending Account (FSA) – The employee can elect to participate in this account, up to an annual maximum of $3,500. This money is then available as reimbursement for eligible medical expenses, in accordance with IRS guidelines.
- Dependent/Elder Care Flexible Spending Account (FSA) –Associates who have eligible dependents can also participate in this account. A maximum of $5,000 can be contributed each year.
- Health Savings Account (HSA) – This account is for use with the Consumer medical plan. The employee can elect to participate in this account, up to certain annual maximums depending on coverage level, and JHA also makes a contribution to the account each quarter. This money is then available as reimbursement for eligible medical expenses, in accordance with IRS guidelines.
- Short-term Disability – JHA provides partial salary continuation up to 90 calendar days for qualified medical leaves of absence.
- Long-term Disability – Employees who have completed 30 consecutive days of service are eligible for our long-term disability program. Sixty percent of the individual’s salary will be paid, beginning on the 91st day and continuing for the length of the approved disability.
Survivor Protection Benefits
- Basic Life Insurance and AD&D – Each Associate has life insurance in the amount of twice his or her annual salary. In addition, twice the annual salary is available as Accidental Death and Dismemberment insurance.
- Spouse and Child(ren) Basic Life Insurance – Provided to each employee at no cost. This coverage provides $5,000 in life insurance for the spouse and $2,500 for each child.
- Supplemental Life Insurance – Employees can choose to buy additional life insurance to supplement the insurance provided by the company at their own cost. Supplemental life insurance can also be purchased for the spouse and/or dependents.
Paid Time Off
- Associates begin accruing Paid Time Off (PTO) on their first day with JHA. Full-time employees accrue up to nineteen (19) days of PTO and part-time employees accrue up to nine point five (9.5) days of PTO each plan year. You can begin taking PTO following 30 days of employment and can use your PTO for vacation, illness, or personal reasons.
- California employees accrue PTO (vacation/personal reasons) at a similar rate as shown above and also have up to five sick days per year.
- JHA recognizes nine (9) company-paid holidays per year.
In addition, JHA offers leave programs for:
- Jury Duty
- Personal Reasons
- Military Service
- Retirement Savings Plan – Jack Henry has a 401(k) program, with a generous match and immediate 100% vesting of employee and employer contributions. Employees may participate after 30 days of employment and the employer match begins after six (6) months of employment.
- Employee Stock Purchase Plan – After one year of employment, Associates are eligible to purchase JKHY stock at a discounted rate through payroll deductions.
- Educational Assistance Plan – JHA will reimburse Associates who wish to continue their formal education, up to the current specified annual limit. Courses must be in pursuit of a degree program at an accredited educational institution.
- Continuing Education – Jack Henry has an extensive list of classes both in-classroom and online which are available to Associates.
- In addition to those programs outlined above, Jack Henry & Associates is pleased to offer an Employee Assistance Program (EAP), Adoption Assistance Program, a casual dress code and work environment and, for certain positions, the ability to participate in various Flexible Work Arrangement options.
Complete details regarding all JHA benefits will be provided to you during your New Employee Orientation.
Jack Henry & Associates Photos
- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I have been working at Jack Henry & AssociatesPros
The work life balance is great in my department. I had a premature child and they allowed me to work from home to care for him. They also have never laid anyone off due to economic reasons in their history. The company has decent benefits including medical, dental, vision, 401k, stocks at a reduced rate, and an above average amount of paid time off including holidays. The upper management including the CEO actually listen to their employees opinions and advise. While it doesn't always result in the change you desire they will always take the time to explain to you their reasoning, usually personally.Cons
I have been with the company for 8 years and the wages do not increase enough with even good reviews to keep up with the increased rates for insurance. When I started it was no cost for the basic insurance now it has risen so high that I was forced to drop the company insurance. While my department has a fair work/life balance I know of many others that do not. These employees work well beyond standard full-time hours on a regular basis. As many office type jobs there is too much politics involved in raises and promotions. If a boss decides they don't like you you will quickly know it based on those two factors.Advice to ManagementAdvice
Do not pressure managers to complete reviews based upon a scale. I have been forced to lower or raise scores of my employees so my manager can meet the averages (10% in the top etc.).RecommendsPositive OutlookApproves of CEO
Getting an Interview
Getting an Interview
- Application Details
I applied online. The process took 3+ months – interviewed at Jack Henry & Associates.Interview Details
SLOW. Applied in August, contacted in December, interviewed in January, hired in February. The company takes forever to hire new people, so if you are intent on working there just be patient and persistent. The interview itself was pretty standard, maybe even low-key. Afterwards the hiring manager sent me to lunch with the rest of the team so they could get a good feel for my fit on the team. I did the same thing with prospective hires once I was employed there.Interview Questions
Negotiation DetailsThe company always lowballs their offers. I accepted far too low and watched others get hired years later for much more than I was making.Accepted OfferNegative ExperienceAverage Interview
- None come to mind - the usual interview questions about what to do in hypothetical situations. Answer Question
Jack Henry & Associates (JHA) provides integrated in-house and outsourced software systems for data processing to more than 11,000 banks, credit unions, and other financial services companies. Products include core processing systems, electronic funds transfer (EFT) systems, automated teller machine networking products, digital check and document imaging and storage systems...
Mission: To protect & increase the value of our stockholders' investment by providing quality products & services to our customers. Concentrate our activities on what we know...