Pay practices define how people are paid depending on various situations such as new hire, transfers, areas of compensation management.
In this article, I am going to discuss some of the pay practices for Amazon and Walmart.
Amazon is an American multinational technology company based in Seattle that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is considered one of the Big Four technology companies, along with Google, Apple, and Facebook.
Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas. The company was founded by Sam Walton in 1962 and incorporated on October 31, 1969.
Amazon pay for employees
Amazon pays a minimum wage of $15 an hour to all full-time, part-time, temporary, and seasonal employees across the U.S. This is on top of industry-leading, comprehensive benefits for employees. The federal minimum wage in the US is $7.25 and has not increased since 2009. Amazon, however, believes that raising the minimum wage would have a profound impact on the lives of tens of millions of individuals and families across the nation and help address growing income inequality.
Amazon benefits are egalitarian, regardless of the level of seniority. Amazon is using its position as one of the nation’s largest employers to encourage other companies to raise their wages and to lobby members of Congress and state legislatures to raise the minimum wage.
Amazon prioritizes equal pay. The company have been measuring and publishing the ratio over the past several years and women have earned between 99.5 and 101.5 cents for every dollar that men have earned in the same jobs.
Walmart pay for employees
Walmart has a long history of providing comprehensive health care and benefits to its associates. Its quality plans are among the best in the retail industry. Walmart believes that when its associates have stability in areas like health care, maternity and parental leave, paid time off and retirement planning, they’re better able to bring their best selves to work.
Health care and insurance options
- All eligible associates – both full- and part-time – have affordable options that include no lifetime maximum and eligible preventive care covered at 100%.
- Walmart offers medical plans starting at around $26 per pay period, as well as dental and vision plans.
- Coverage for domestic partners is available.
- Its Centers of Excellence program covers the select spine and heart procedures, knee and hip replacement surgeries, organ and tissue transplants, and breast, lung and colorectal cancers – all at no cost to associates.
- Associates have free access to nurse care managers and health care advisors.
- Health reimbursement plans provide $300 to $1,000 and its health savings account plan gives up to a $700 match to help pay for eligible network or non-network medical expenses.
- Associates can take advantage of Resources for Living, a free confidential counselling and health information service.
- Additional options include company-paid life insurance, accidental death and dismemberment insurance, critical illness insurance, short- and long-term disability insurance and business travel accident insurance.
Save for retirement, save with exclusive discounts
- Associates can contribute to their 401(k) starting on their first day with the company. Walmart provides up to a 6% match after one year on the job.
- Associates can participate in an associate stock purchase plan with a company match.
- Our associate discount card offers a 10% discount on fresh fruits, vegetables and regularly priced general merchandise at Walmart stores.
- The Associate Discount Center provides exclusive discounts on travel, cell phone services, entertainment and other goods and services not available in Walmart stores.
- Paid time off empowers associates to decide how they use their leave by streamlining paid vacation, sick time, personal time and holiday time into one category.
Making time for families with maternal and parental leave
Walmart maternity, parental and adoption benefits are available to all salaried and full-time hourly associates who have worked at Walmart for at least 12 months.
HOW IT WORKS
- Maternity: The enhanced maternity benefit supports birth moms with up to 10 weeks of protected paid time away from work.
- Birth mothers can take up to 10 weeks of protected paid maternity leave.
- They’ll receive 100% of their pay, based on their average weekly wages.
- They can use the new parental benefit (see below) for an additional six weeks, for a total of 16 weeks of protected paid leave for birth mothers.
- Parental: The parental benefit supports associates who become a parent through a birth, adoption or foster-care placement, with up to six weeks of protected paid time away from work. It's available to associates in all states, including California, Oregon and other paid parental leave states.
- The parental benefit is for new legal parents, guardians and foster parents only.
- New parents can take up to six weeks of protected paid parental leave.
- The associate’s time away needs to be continuous, meaning they take it all at once.
- The associate can use their parental benefit at any point in the 12 months following the date they became a new parent through a birth, adoption or foster-care placement.
- Salaried associates may also be able to use the two-week family care pay program to cover the time they care for a spouse or dependent who has an eligible medical condition.
- Associates receive 100% of their pay, based on their average weekly wages.
- Adoption: This benefit pays associates back, up to $5,000, for expenses related to adopting a new family member. There’s an annual maximum of $10,000 and a lifetime maximum of $20,000 per associate. Qualified expenses include, but are not limited to:
- Application fees, agency and placement fees, legal fees and court costs
- Home suitability studies
- Immigration, immunization and translation fees
- Transportation, meals and lodging
- Parent, child and family adoption counselling
Taurai Masunda is a Business Analytics Consultant at Industrial Psychology Consultants (Pvt) Ltd a management and human resources consulting firm. https://www.linkedin.com/in/taurai-masunda-b3726110b/ Phone +263 4 481946-48/481950/2900276/2900966 or email: email@example.com or visit our website at www.ipcconsultants.com