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3 Companies and Their Benefit Structure

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Assignment: Compensation

Submitted by- Simran Soni (MMS-HR)

Roll Number- 052

Cisco: Innovation (Average tenure: 3.7 years)

  1. Competitive compensation plan- Performance culture which rewards innovation, collaboration and profitability
  2. Tuition reimbursement- Receive reimbursement for tuition, lab fees and books for coursework at an accredited institution
  3. Generous employee stock-purchase program- Purchase stocks well below lowest fair market value with a 24-month offering period.
  4. Annual bonuses- reward people for their performance, not their seniority
  5. Fun Fund- Each team has a dedicated budget each quarter to be spent on celebrations or fun activities.
  6. Connected recognition- Employees can nominate someone they think lives the value of the organization for a monetary award.
  7. Employee discount programs
  8. Flexible work practices
  9. Generous paid time off + holidays
  10. Onsite medical and fitness center- Provides employee and their family with access to world-class physicians who offer an independent second medical opinion and advice.
  11. Comprehensive benefits- Health insurance, disability coverage, and life insurance
  12. Maternity and paternity support- Support is given to the employees during maternity, paternity and adoption

Cons

  1. Management issues
  2. Layoffs

Wal-Mart: Cost (Average tenure: 3.3 years)

  1. Walmart is investing $2.7 billion over two years in higher wages, education and training.
  2. Full- and part-time associates are eligible for 15% tuition grants at American Public University
  3. Full- and part-time associates are eligible for quarterly bonuses based on store performance. Last year, associates earned more than $550 million in bonuses.
  4. Benefits for health and financial well-being- It includes Medical plans starting at $23.20 per pay period, Dental plan, Vision plan, Coverage for domestic partners
  5. 401(k) retirement savings with matching contributions of up to 6% for eligible associates
  6. Associate stock purchase plan with company match
  7. Walmart Discount Card that offers a 10% discount on fresh fruit, vegetables and regularly priced general merchandise at Walmart stores
  8. Associate Discount Center that offers exclusive discounts on travel, cell phone services, entertainment and other goods and services not available in Walmart stores.
  9. The company gives recognition to high-performance employees. The optional APU credits are also incentives to motivate workers to improve their knowledge, skills and abilities.

          Cons:

  1. Lengthy Shifts
  2. Management issues

Nike : Differentiation (Average tenure: 3.3 years)

  1. To inspire greatness inside and outside work, Nike invests in culture and offer employees competitive health, financial, security and work-life benefits.
  2. From opportunities for career development to personalized benefit options, they want all employees to realize their full potential.
  3. Relocation facilities available
  4. Summer hours- employee enjoys time-off and stay balanced
  5. Generous Employee discounts
  6. Onsite or membership of the fitness centers
  7. Transportation services are provided
  8. Career growth opportunities
  9. They also provide competitive pay and robust saving plans
  10. They even follow Global pay equity  

Cons

  1. Working on weekend
  2. Management issues

Reference:

  1. https://www.payscale.com/data-packages/employee-loyalty/full-list
  2. https://www.cisco.com/c/en/us/about/careers/we-are-cisco/benefits-and-perks.html
  3. https://corporate.walmart.com/our-story/working-at-walmart
  4. http://panmore.com/walmart-human-resource-management-compensation-career-development
  5. https://jobs.nike.com/benefits
  6. Glassdoor reviews regarding these organizations

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