Wal-Mart

Wal-Mart Stores, Inc. {{nyse|WMT}}, founded by Sam Walton in 1962, is the largest retailer and the largest company in the world based on revenue. For the fiscal year ending January 31, 2005, Wal-Mart reported net income of US $10.3 billion on US $285 billion of sales revenue (3.6% profit margin). If Wal-Mart were its own economy, it would rank 33rd in the world, with a GDP between those of Ukraine and Colombia. It is the largest private employer in the United States, Mexico and Canada. It holds an 8.9 percent retail store market share— $8.90 out of every $100 spent in U.S. retail stores is spent at Wal-Mart.

Employees

Wal-Mart refers to its employees as "associates," and encourages managers to think of themselves as "servant leaders." Each shift at every store, club, and distribution center (theoretically) starts with a store-wide meeting where managers discuss with hourly associates daily sales figures, company news, and goals for the day.

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All Wal-Mart stores in the United States have employees referred to as "People Greeters." They welcome people to the store and help prevent shoplifting. At some Sam's Club these employees inspect the contents of the shopping carts of exiting customers.

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U.S. Senator Hillary Clinton (Democrat, New York) formerly worked as a lawyer for Wal-Mart and also served on its Board of Directors.

Related Topics:
U.S. Senator - Hillary Clinton - Democrat - New York - Lawyer - Board of Directors

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Wal-Mart benefits

According to Wal-Mart proponents, these benefits are offered to employees:

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• Health (80/20 co-pay cost varies by plan and health; Wal-Mart pays average of two-thirds of insurance cost.{{fn|6}})
• Dental (80/20 co-pay)
• Stock Options (payroll deduction option, 15% match)
• 401k (50% of profit sharing contribution by company, up to 4% of employees' pay)
• Life Insurance (up to $200,000)
• Company Paid Life Insurance (1 year's pay,up to $50,000)
• Accidental Death and Dismemberment (100% associate paid)
• Short Term Disability (100% associate paid)
• Long Term Disability
• Prescription Drug Benefit
• 10% Discount
• Stake Holders Bonus (varies per store based on sale threshold)
• Sick Pay
• Vacation pay
• Personal time pay
• Bereavement Pay (immediate family members)

Employees are eligible for full benefits after six months of full-time employment, two years of peak-time (part-time or seasonal) employment, or 1000 hours worked. Most benefits, including limited health insurance, start at the first day of employment.

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About 30% of its 1.6 million employees have some coverage under the insurance plan.{{fn|6}}

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