Costco offers one of the best compensation and benefits packages not just in retail but across industries. According to a new report published by glassdoor.com, Costco is the number two company to work for based on compensation and benefits trailing only Google.
The glassdoor ranking is based off of actually employees' opinions of their employer's benefit and compensation package. The company received a 4.4 out of a possible 5 for compensation and benefits, and a 3.8 out of 5 for total employee satisfaction. In addition, 82% of Costco employees would recommend the company to a friend. CEO Craig Jelinek has a 92% approval rating among employees.
Helping to build all of that goodwill is an employee benefits package that includes:
- Medical, dental, mental health, substance abuse, pharmacy, vision and hearing aid coverage
- 401(k) plan, stock purchase plan and money management information
- Reimbursement accounts that allow employees to pay out-of-pocket medical expenses, child or elder care expenses and commuter expenses pre-tax
- Disability insurance, life insurance, long-term care insurance and accidental death and dismemberment insurance
"The best incentive at Costco is the benefits, whether you are working full time or part time. I paid 20 bucks a month for a $500 deductible with no co-pay. The hourly compensation is more than fair, and I got the sense very quickly that management was eyeing the most competent workers for advancement."
"Great wages, benefits... and working for a great company that really truly cares about their members and employees..."