January 10, 2013
Bernie Marcus, Arthur Blank, Ron Brill, and Pat Farrah. The Home Depot’s proposition was to build home-improvement warehouses, larger than any of their competitors’ facilities. Investment banker Ken Langone helped Marcus and Blank to secure their necessary capitol. In 2007 the Home Depot sold its $13 billion revenue wholesale division, HD Supply, to a consortium of three private equity firms, The Carlyle Group, Bain Capital and Clayton, Dubilier andRice. Home Depot sold their wholesale construction supply business to fund a stock repurchase that estimated at $40 billion. Best Buy and Home Depots’ share some similarities in health benefits, medical, dental, vision, life insurance, flexible spending accounts just to name a few. Each year, employees have the opportunity to choose the health and insurance benefits that are right for them and their families. Employees have choices-both employers offer programs which provide employees with tools and resources to help achieve health and financial wellness goals. As state in article Forbes Magazine; “Healthy living will help
Employees don’t have a one size fits all schedule. Many things in their personal lives can actually conflict with the standard 9-to-5 hours, Monday through Friday. Whatever the reason may be, employees appreciate a flexible schedule. There is no set time that flex time must be included, nor are there any legal requirements to offer employees time off. It’s discretion of each business to decide if they offer any time off and what days and hours they are willing to have employees work. Examples of flextime given to employees can include: Monday to Friday, 7 am to 3 pm, Tuesday to Friday 7 am to 5 pm, Wednesday to Sunday, 9 am to 5 pm. It’s important to set a policy which employees and managers must follow. Flextime can be offered to anyone, but it must not discriminate. Employers can limit flextime to certain situations. Flextime is possible for any job function; however, it’s much harder to offer flextime to customer and client focused employees, especially when it’s expected they’re in during certain hours. Other industries that aren’t customer and client driven can allow employees to come in certain of hours a week. Still, other industries like information technology may operate on a 24-hour cycle, and needs staff day and night. For positions such as these, a flextime schedule is in everyone’s best interest. There are many benefits to giving their employees flextime. A work-life balance is among the biggest benefits. Not all employees have a flexible schedule. Employees may have all sorts of conflicts in their personal lives that don’t allow for a typical 9-to-5 day, yet need to stay in a full time position for financial reasons. Child and elder care, even a second employment and or school to attend are examples of conflicts with work hours. Some employees may need to coordinate a childcare schedule with their spouse, and it may help them to come in early to pick up their child. Others may be going back to school and need to miss a shift due to class.
Another benefit is Medical Expense that is the cost for hospitals, doctors, medical treatment, etc. Some programs permit the injured worker to select a medical provider of his or her own choice. Some programs permit the injured employee to select a medical provider of his or her own choice. Some states have a closed panel system that requires an employee to seek medical attention from a medical provider chosen by the employer or the employer’s insurance company. Disability pay- either temporary while your recovery, or permanent if the injury is permanently damaged the ability to ever work again. The amount varies, but it can be as high as one-half to two-thirds of a normal pay. Vocational Rehabilitation – if an injury renders you unable to perform usual duties of your occupation,...
References: “Best Buy Benefits” (January 2013)
“Home Depot employee benefits corporation” (January 2013)
“Employee Benefits” (January 2013)
“Flextime work hours” (January 2013)
“Home Depot employee health benefits” (January 2013)
“Best Buy” (January 2013)
“Federal State benefits” (January 2013)
“Policy basics” (January 2013)
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