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Company Overview; Lowes

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Company Overview of Lowe’s
Second to only Home Depot, Lowe’s is a leading retailer in home improvement commodities and hardware products. Founded in 1946, Carl Buchan envisioned a chain of hardware stores from a small town in North Carolina. Now with more than 1,750 stores, in all fifty states, Canada and Mexico, Lowe’s prides itself on top quality products at everyday low prices (About Lowe’s: Lowe’s Newsroom, n.d). Lowe’s has over 245,327 employees on their payroll and offers a respectable total rewards benefits package to both its full-time and part-time employees. (2012 Annual Report: Lowe’s, 2012).
Current Total Rewards Program at Lowe’s
In order to retain and recruit top-notch employees, Lowe’s offers benefits that are sought after by many. Several options for health care benefits are allotted depending on co-pay amounts, which cover standard care, prescriptions, dental, and vision. Lowe’s total rewards package offers paid and unpaid time off from work to their employees as well as a basic sick pay leave. In both vacation and sick pay, employees, after 89 consecutive days of employment, will accrue six days per year. (Lowe’s Employee Benefits, n.d). Employees have access to stock purchase plans, and 401K plans while employed at Lowe’s. “Lowes matches the first 3% deferred at each pay period at 100%” (Lowe’s Employee Benefits”, n.d, n.p.). In addition to these somewhat standard offerings, Lowe’s offers quite a few other notable benefits:
• Life Insurance – Several plans are available to the Lowe’s employees depending on their needs and how much they want to receive in the event of their death or the death of a family member. The plans available are; basic term, employee term, supplemental term, dependent term, personal accident and travel accident plans.
• Disability Insurance – Short and long term disability programs are set forth at Lowe’s.…...

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