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Providing employee benefits
Comparison between lowes and home depot
Home depot versus lowes for employees
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“To make your company competitive and attractive to job candidates you have to offer an exceptional total benefits package” (Obringer, 2003, para.1). This is especially true in the current economic environment. The employee’s needs are changing so businesses are having to rethink their compensation and benefits packages. The home improvement industry is no exception to this phenomenon. Companies like Ace Hardware, Lowes Home Improvement, and The Home Depot have had to adapt their benefits packages to stay competitive in an industry with an ever-changing employee demographic. The following pages will include a comparison of all the benefits offered by Ace Hardware, Lowes Home Improvement, and The Home Depot, as well as, a glimpse into whether or not their strategies seem to have been successful. The majority of the benefits are available to all employees, but some of them are only available to corporate team members. To make sure that all of the available benefits are covered and for comparisons sake, the focus of this report will be on the corporate level of benefits. Also due to the wide salary ranges between low level employees and corporate employees, this report will not focus on salaries.
Before comparing each company’s benefits plan there should be some discussion on the three companies’ history. According to lowes.com, Lowes Home Improvement was founded in 1946, there are more than 1825 stores, they employ more than 240,000 people, and it is the second largest home improvement retailer in the world (n.d.). According to homedepot.com, The Home Depot was founded in 1978, which makes it fairly young when compared to the other two companies, yet it is the largest home improvement retailer in the world (n.d.). Acc...
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...e Hardware are three very similar companies when it comes to their benefits packages. They each offer a wide array of benefits to satisfy the needs of any employee. The way that each company handles their business and customer service aspects are not the same and may not always be successful, but they all three have succeeded when it comes to having and appealing benefits plan.
Works Cited
About Lowe’s | Lowe's Newsroom. (n.d.). Retrieved February 8, 2014, from http://media.lowes.com/about-lowes/
Ace Hardware. (n.d.). Retrieved February 8, 2014, from http://www.acehardware.com/corp/index.jsp?page=about
Obringer, L. (2003). HowStuffWorks "How Employee Compensation Works". Retrieved from http://money.howstuffworks.com/benefits.htm
Our Company. (n.d.). Retrieved February 7, 2014, from https://corporate.homedepot.com/OurCompany/Values/Pages/default.aspx
Rivalry. Home Depot, Ace Hardware and Menards are the biggest competition that Lowe’s faces. With Home Depot being the large...
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Case Study of The Home Depot Preface This Essentials of Strategic Management assignment has been made by three persons which have been working together and individually to finish the assignment properly and in time. Secondly, we would like to thank the company whose websites we were able to visit and use, to get additional information that we could use for leading the assignment of Home Depot to a successful ending. We can say, that it was a pleasure to work on this assignment and would, in the third place, like to thank each other. The persons who worked on this assignment, for the effort and time that is put in the assignment, that brought us to this finished version.
The employees of The Home Depot are great athletes or sports person as the store’s employees are the holder of the highest number of Olympic medals, in comparison to other companies. 11. In the year, 2013, The Home Depot added only one store in the United States, while its rival, Lowe’s added a store in 300 locations. But, inspite of this fact, the revenue growth of The Home Depot surpassed that of Lowe’s over the past 5
Wikipedia cites Home Depot as the “largest home improvement retailer in the United States”. Unfortunately the company now has on its record “The Biggest Credit Card Theft in History” ,as well. Other attacks on similar companies include the one on TJ Maxx Stores and Target Corp's. Home Depot's incident has been reported as more severe than both of these, compromising the Credit Card information of around 55million Customers. TARGET
No organization can guarantee 100% of cybersecurity to its customers or client but there are basic cyber security measures that need to be in place to provide the minimum acceptable required standard of enterprise cybersecurity (Donaldson,2015). Home Depot as a private company need to complete certain minimum-security measures mandated by the US government (Stewart, Chapple & Gibson, 2015). That will help protect customers ‘personal information that is in the data base to avoid security breach that will compromise personally identifiable information (PII) (Stewart, et al, 2015). Weakness Analysis Home depot has been implementing certain security measures to protect the company, information of staff, customers and client but there are many
Home Depot has grown at a phenomenal rate over the last 36 years to become the largest do it yourself retailer in the United States. It’s solid business performance has allowed the company to post double digit growth rates over the last 36 years, and has never had a negative year of growth, even during the financial crisis of 2008-2009.
As a comparison in the industry, Lowe's culture is much more low-profile, collaborative, and collegial. However, many investment reports show that historically, Home Depot often is in front of Lowe’s (Grow 2006).
Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank in Atlanta, Georgia. With their store, Marcus and Blank revolutionized the do-it-yourself home improvement market in the United States. Home Depot began as a very basic store, operated in a large, no-frills warehouse. Home Depot carries over 35,000 products, with national brand names along with the Home Depot brand. At the start, Home Depot was able to offer exceptional customer service with knowledgeable employees who could guide customers through home renovation projects. Since its opening, Home Depot has experienced incredible growth, and today is North America's second largest retailer, and the largest home improvement retailer. Internationally, Home Depot has expanded into Canada, Mexico, and is beginning to operate stores in China. Home Depot's competition includes Sears, Ace Hardware and Lowes (the main competitor).
Many employees when looking for a job or deciding whether to stay with their current employment often considers the employee benefits the company offers.
...with tangible things such as the healthcare facility, the piano player that creates a relaxing environment during lunch, financial planning services, as well as discounts on residential property. Each employee gets their own office instead of cubicles. Jim Goodnight believes that this increases productivity and does it because that’s how he would want his office space if he were just an employee. Every employee also has a sense of ownership with their office and can decorate it as they like within in reason. This provides a comfort level at work. Not all of the motivation is compensation related; SAS has structures in place that encourage teamwork. Employees can feel confident in knowing that they will get help when needed. SAS Institute has a reward system that encourages employees to work together. Everyone in a sales organization gets a bonus relative to target.
Working, we all hated it at one point in our life. Sadly, working is part of our lives whether we want it to or not. It approximately started in the 1800s. Women were not allowed to work, so they did little work around the house when able to. Also throughout the 20th Century, Americans have said that “ the DIY home improvement movement has through the years strengthened family ties” (“Do-It-Yourself Show Traces America's History of Home Improvements”). DIY home improvement is very hard work and requires full attention, so mistakes that could be made, won’t happen because the full focus is on the project. But we have a choice, either do it ourselves or pay and get someone else to do it. This is when DIY home improvement can be essential in
Organizations are working hard in today’s world of business, not only to remain competitive, but also to focus on stability and structure. Employees are the backbone of an organization. It is becoming more important to offer quality HRM programs to staff, in order to support the retention of trained and experienced staff. Employees have always been concerned with salary however, there is a new focus emerging that looks at compensation as a whole entity. Monetary wages are now just as important as other benefits such as paid time off, medical and dental offerings and retirement. This paper will discuss the importance of the total compensation program which includes many aspects, not just salary. Attention must be paid to equal pay, pay