Lowe’s is one of the USA’s most trusted home improvement brands. It is located in Mooresville, North Carolina. This company runs about 2197 stores in various parts of North America.
Currently, Lowe’s is the second biggest chain in the United States of America. It sells plumbing, home appliances, garden supplies, tools, building materials, hardware, etc.
This company provides various benefits and perks to its employees. It has more than 300,000 employees in various parts of the globe. In this blog, we will discuss the different benefits offered to Lowe’s employees.
Major Benefits To Lowe’s Employees In 2023
Every employee working at Lowe’s stores gets a wide range of benefits, from salary to health insurance. Read on to learn the various benefits offered to Lowe’s employees.
1. Good Salary:
One of the significant benefits for Lowe’s employees is a good salary. Employees of any department working in this company earn between $10 and $29 per hour. However, the salary may differ according to the experience level and location.
2. Health Insurance:
Lowe’s provides good health insurance policies to employees. These policies include health coverage for dental care, health care, and vision insurance.
Apart from that, the company also offers health insurance such as Diabetes and orthodontic treatments. In addition, women employees get maternity leave during pregnancy.
3. Life Insurance:
Lowe’s offers life insurance to employees who work for about 30 days at the company. Employees working on an hourly rate will get life insurance of about $10,000. The company also offers insurance for accidental deaths and permanent disability.
Additionally, the company offers insurance coverage for both long-term and short-term disability to employees who have worked for 30 continuous days.
4. Education Support:
The company provides a tuition reimbursement program to employees who work for about one year. It also provides $2500 for tuition books.
Apart from that, Lowe’s also offers academic coaching and full-time pre-apprenticeships with Lowe’s contractors.
5. Stock Purchase Plan:
Employee Stock Purchase Plan is a stock plan offered by Lowe’s company. According to this program, the employee can purchase company shares at a discount of $15.
However, this plan applies only to employees who work for 30 continuous days in the company.
6. Casual Uniforms:
Lowe’s provides a red vest with the logo of the company. Employees of the company can also wear jeans and a t-shirt for comfort.
7. Paid Time Off:
Paid time off applies only to the full-time employees of Lowe’s company. PTO includes holidays, medical leave, volunteer time, and sick leave. It will depend on the period you work for the company and your position.
Typically, full-time employees get 10 to 15 days of vacation in the year. New employees will receive this benefit after one year of working in the office.
8. Employee Discount:
Employees working at any Lowe’s outlet will receive an associate discount. In addition, at the start of the job, the employees get a discount card. This card will give a discount of 10% on the store’s items. Moreover, the employees will receive a Christmas bonus.
9. Retirement Benefits:
The 401K plan is one of the significant benefits retired employees get at Lowe’s stores. Employees can make pre-tax contributions, and the company will match those payments.
In addition, the company will match up a payment up to 4.25% of your contributions on 6% amounts and above. Employees 18 years old and working for 30 continuous days at Lowe’s company is eligible for 401K plans.
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These are some of the significant benefits that Lowe’s company offers to its employees. It is one of the best home improvement companies in the world that offers a good salary with a range of perks.
This company is reputed, and employees have worked here for years to enjoy these benefits. As a result, it has many happy customers as well as employees.