Kroger is a huge, national conglomerate that has its headquarters in downtown Cincinnati. Kroger stores are located in 35 out of the 50 states as well as in Washington, D.C. Kroger maintains many more stores than just the average grocery stores, and these include jewelry stores, department stores, superstores, and hypermarkets. The massive enterprise also runs 232 medical clinics, 2,266 pharmacies, 1,547 supermarket fuel centers, and 35 food processing or manufacturing facilities.
Latest Kroger News:
- Walmart and Kroger are Reportedly Interested in Buying Grubhub
- Kroger Employee Benefits Review: Are Their Careers Worth It?
In 2019, Kroger employed 453,000 people in its many stores. The company acquired several other shopping establishments over the years, and these include Krambo Food Stores, Big Chain Stores, Childs Food Stores and the stores known as “Henke & Pillot.” Kroger is America’s fourth-largest retail establishment, and it is the world’s fifth-largest retailer. If you are looking for Kroger jobs, you can learn more about Kroger employee benefits that you would be entitled to receive here.
What Are Kroger’s Employee Benefits?
Kroger has some enviable perks and benefits for all of its employees. A few key benefits they offer include:[table id=4 /]
The employee benefits that Kroger offers were designed for full-time employees and part-time employees alike. The benefits that Kroger provides for employees directly impact the type of career that each individual employee desires to have. These benefits include the following:
A comprehensive health insurance plan including Dental and Vision.
Kroger offers a 75% 401 (k) match. Employees are fully vested in their accounts after two years of continuous service.
Up to three weeks of paid vacation. Sick leave is also offered.
6 weeks of paid and 6 weeks of unpaid maternity leave. 2 weeks of paid paternity leave.
A 10% discount on Kroger brand items. Additional discounts on Apple products, Verizon, Sprint, AT&T, automobiles, and Fred Meyer jewelry.
Life insurance is available. Beneficiaries are entitled to receive an employee’s salary for two years.
In addition to standard healthcare services, employees also receive counseling when they or a family member need it. The problems that employees are experiencing are not limited to those that are occurring at work. Employees are welcome to counseling for issues related to the home as well. Their family members are also invited to take part in counseling sessions.
You can also opt for Healthcare spending accounts. They are funded by Kroger so that employees have the money they need when they have medical expenses. Employees don’t have to pay taxes on this money, and if they do not spend the entire amount in the year, the balance will be carried over into the next year. Moreover, the telehealth program allows employees to make video calls or telephone calls to physicians at any time of the day, and Kroger pays for everything.
Employees can also sign up for short-term and long-term disability coverage. It ensures employees do not suffer financial hardship if they become sick or injured and cannot work.
How Does Kroger Help with Student Loans?
Kroger does not offer student loan repayment programs. The company does offer tuition assistance through its Feed Your Future program. According to a 2018 press release, Kroger will pay its eligible employees $3,500 annually to cover tuition costs. In addition to tuition assistance, Kroger employees are going to be able to take an educational leave of absence. This is an initiative that was just introduced last year. If an employee is planning to study a subject that was approved by Kroger, he or she will be entitled to take this new type of leave to focus on his or her studies.
Besides tuition assistance, more and more employers are planning to offer student loan assistance to new hires. But these companies need professional guidance to seamlessly integrate the program with their existing benefits package. A startup company is preparing itself to slip into the void that is the student loan assistance gap. This company created a product called FutureFuel, and it was made for employers so that they would have a platform to give their employees when they are ready to offer student loan assistance. It can also help individuals to manage their student loans better.
How Do Employee Benefits Change for Different Jobs?
Kroger has been having difficulties attracting new people to work for its organization, but it believes that it found a way to do so. Now, employers all over the country are finding out that other employers are competing with them for new hires, but Kroger decided to sweeten its benefits packages that include full-time employees as well as part-time employees.
In 2017, Kroger created the “Feed Your Future” benefit, and it offers full-time employees and part-time employees $3,500 a year in educational benefits. It will add up to $21,000 over the course of the employee’s stay in his or her job. This money can be used to pay for high school equivalency examinations, professional certifications or advanced degrees. This is only the beginning because Kroger plans to increase its spending on its employees’ educational pursuits into the future.
In order to qualify for Feed Your Future, Kroger employees must have been working for the company for at least six months.
How Kroger Improved Its Benefits Packages Overtime
The Tax Cuts and Jobs Act of 2017 changed the way that the Internal Revenue Service does business. Because of this act, Kroger’s federal income taxes were lower than they had been in previous years. The result is going to allow Kroger to save as much as $400 million each year that the law is in place. Approximately one-third of the money that Kroger saves will go toward its employees.
Kroger currently offers employees a 401(k) plan that it increased because of the savings explained above. Before the passage of the Tax Cuts and Jobs Act, Kroger matched its employee savings plans at a rate of 4 percent. This figure has been increased to 5 percent.
Are Kroger Careers Worth It?
Loyalty is an important factor, but Kroger doesn’t just accept loyalty from its workers. Kroger is a company that makes long-term investments in its employees, so it is showing that it can be loyal as well. This means that Kroger employees with aspirations of becoming part of the management team will be able to enjoy training that the company offers them. The company’s motto is that people come to Kroger for a job and stay for a career, and this initiative demonstrates that this is true.
The average Kroger employee earns $13 per hour. This translates to $28,000 per year. As was mentioned above, you have the opportunity to take advantage of training that will prepare you for a career that pays more money. For example, a manager at Kroger earns $38,000 per year. The pharmacist earns the most money with a $114,000 salary every year.
Working at Kroger does look as if it is definitely worth it. Kroger employees say that they work in a great environment, and it is also good for students because management gives them flexible schedules.