Hr599 Benefits Project

Topics: Wal-Mart, Costco, Wage Pages: 8 (2527 words) Published: September 9, 2013
Benefit Plan Design Analysis

Course Project: Wal-Mart Stores, Inc.
Lillie Williams
Professor: Dr. Burnell G. Carden, Jr.
HRM-599-11570 Benefits
Date 6/22/2013

Table of Content
Part 1- Organization Profile and Benefit Program ---------------------------------------- 3 & 4 Part 2 - Statement of Issues ------------------------------------------------------------------ 5 & 6 Part 3 - Literature Review ------------------------------------------------------------------------- 6 Part 4 - Issues Analysis ----------------------------------------------------------------------- 6 & 7 Part 5 - Issues Solutions ---------------------------------------------------------------------- 7 & 8 Part 6 - Solution and its implementation --------------------------------------------------- 8 & 9 Part 7 – Justification ------------------------------------------------------------------------------- 9 Part 8 – Reflection ---------------------------------------------------------------------------------10 References -------------------------------------------------------------------------------------------11

Company Profile
Wal-Mart Stores, Inc., branded as Wal-Mart, is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores. “The company is the world's third largest public corporation and one of the biggest private employer in the world with over two million employees, and is the largest retailer in the world according to” (Fortune Global, 2012). Wal-Mart remains a family-owned business, as the company is controlled by the Walton family, who own a 48 percent stake in Wal-Mart. It is also one of the world's most valuable companies. Wal-Mart was founded by Sam Walton in 1962, incorporated on October 31, 1969, and publicly traded on the New York Stock Exchange in 1972. It is headquartered in Bentonville, Arkansas. Wal-Mart is also the largest grocery retailer in the United States. In 2009, it generated 51 percent of its US$258 billion sales in the U.S. from grocery business. It also owns and operates the Sam's Club retail warehouses in North America. Wal-Mart has 8,500 stores in 15 countries as well as Wal-Mart’s online retail operations. Wal-Mart Benefit Program

Wal-Mart offers competitive pay and benefits, including health care plans, education assistance, retirement plans, and training and development opportunities. Wal-Mart offers eligible hourly store associates quarterly cash bonus opportunities, a health care plan that starts at $17 per pay period, a 401k plan with a company match, a 10% discount on merchandise, and, most of all, a chance to move up through the ranks. Currently Wal-Mart U.S. benefits program highlights:

First dollar coverage medical plans with no lifetime maximum and low premiums. • Comprehensive health care plan for less than $8 per week • A 401(k) Plan with a dollar for dollar match up to 6 percent of annual pay • A 10 percent discount on most products throughout our stores • Maternity wellness, including a coach from the Wal-Mart's Life with Baby maternity benefit. According to (Susan Chambers, 2008),Wal-Mart charges extra for ambulance usage and emergency room visits, additional deductible of $100 for the use of an ambulance, both land and air, as well as $100 for emergency room visits. This reoccurring cost on top of the already high deductible devalues the effectiveness of insurance and punishes employees for severe illness and injury. Employees with pre-existing conditions must wait at least one year for treatment. After finally reaching eligibility after six months or one year, depending on employment status, an employee must wait an additional year to receive full coverage for a pre-existing condition. If an employee enrolls late, he or she must wait 18 months. Wal-Mart fails to cover preventive care. According to Wal-Mart’s...

References: Wakeup Wal-Mart. (2010). The real facts about wal-mart: wal-mart 's healthcare.
Retrieved from: http://www.wakeupwalmart.com/research/CFCW-healthcare.pdf
Rick Ungar (2013, APRIL 17)
By Renee Dudley (March 28, 2013)
Costco Wholesale, (2010) Health Benefit.
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