Wal-Mart Employee Compensation and Benefits

Wal-Mart Employee Compensation and Benefits

Wal-Mart Stores, Inc. is a U.S. multinational company specializing in retail, founded by Sam Walton and now headed by his eldest son, S. Robson Walton. Founded under that name in 1962, it has grown rapidly in Arkansas and led all U.S. begin to internationalize from 1991. The success of company's success is greatly attributed to the vision of its founder. At the same time, the company also recognized the contributions made by its employees in the course of such tremendous success. The company has a very comprehensive employee compensation and benefits plan. Its package is very competitive in the retail industry.

Pay structure

Formal pay structure of the company varies with the position, experience, performance and several other factors related to the employee. According to the statistics gathered by Glassdoor.com from current and former employees of the company,

Position

Lower Limit

Higher Limit

Average

Pharmacist

$90k

$115k

$117,138

Assistant manager

$53k

$78k

$43,358

Sales Associates - Hourly

$7

$19

$8.84 /hr

Assit. Store Mgr

$34k

$65k

$44,768

Dept Mgr. - Hourly

$8

$20

$11.18

Programmer Analyst

$49k

$93k

$66,523

Grad Pharmacist

$31k

$94k

$71,077

Wal-Mart Cashier

$6

$13

$8.55/hr

Pharmacy Manager

$101k

$144k

$123,879

Moreover, a store manager can make from $80-$110K/yr, which is upon his sales volume. Wage rate for a customer service manager ranges from $10-$12/hr. Co Managers starting salary is $65K/yr.

Benchmarking

As mentioned below, company acknowledges the contribution of its employees and valued them as an important asset of the company. It is company philosophy to reward all the associates with a competitive compensation package. Apart from serving as a incentive program, it also assist the course of hiring and retaining workforce that in turn aid the company achieves its goal by serving its customers and remaining competitive in the retail industry.

In the United States, the competitive compensation package offered to the employees totaled $5.2billion last year. The company not only benchmarks the salary against the industry practices but also on the experience, problem-solving, skills and job accountability of the employee. These wages, whereas competitive with retail industry, are in many instances entry level jobs. In a comparison aof a20 alarge aretailers aand agrocers, athe aHewitt aBenefit aIndex® afound athat aWal-Mart's abenefits aare acompetitive. aWhile athe aHewitt aBenefit aIndex® aaverage ascore ais a100, aWal-Mart ascored a104.8 aon aall aemployer-paid abenefits, a102 aon aemployer-paid aactive ahealth acare a(medical, adental, avision aand ahearing), aand a217.4 aon aretirement asavings. aThe anext aclosest aemployer ato aWal-Mart ain athe aretirement asavings abenefits acategory ascored a199.1.

Profit Sharing and Stock Ownership

Profit Sharing Plan

All qualified Associate who has been for 12 months with the company may obtain a company contribution of up to 2% of their salaries to a profit sharing account. These contributions are made constantly even if Associates or employee decide not to put in their own funds.

Stock Purchase Plan

The company also contributes to Associates' share purchase by equaling 15 c for every $1 of shares purchased via payroll deductions, each plan year up to initial $1,800 in purchases.

Legally Mandated and Voluntary Benefits

The company offers a range of legally mandated as well as the voluntary benefits to all its employees which are listed below

Health & Well-Being Benefits

Consumer-directed health plans, including Health Reimbursement Accounts (HRA) plans ...