It is always advised to know about the company details and the benefits it offers for their employees before you start working with that company. With this article you will get all the details about Kroger company and the associated benefits you can avail as a Kroger employee.
- 1 About Kroger:
- 2 Kroger Benefits:
- 3 Retirement & Financial Benefits:
- 4 Other benefits:
Kroger is an American company founded by Bernard Kroger in 1883. Its head quarters is at downtown Cincinnati, Ohio, US. It is the largest super market in United States and the third largest retail company in the world. Kroger operates through its subsidiaries, 2778 super markets and more departmental stores. It has its business in 34 states. They work from 8 AM till midnight on week days and on weekend they work from 8 AM till 9.30 PM. For further queries, you can reach their customer care centre at 1-800-576-43770. Customer care professionals can help with the answers for the queries.
Kroger offers several benefits for their employees. They are as follows.
PAID TIME OFF:
Kroger offers associates a rewarding package of vacation time, personal time, and Health & Wellness time. Employee do not have to wait a year to take time off depending on their role. The employee can get vacation time in the first of the month after they start with Kroger.
WORK FROM HOME:
Many of the positions in Kroger offers the ability to work from home up to 5 days a week. The employees can take advantage of this on a weekly basis according to their need.
If any employee is interested to work with Kroger Technology but if they are not living near a Kroger location, they can choose the option of remote work.
Retirement & Financial Benefits:
There are several plans available which are listed as follows
- Profit Sharing
- 401(k) Plan
- Defined Benefit Pension Plan
- Defined Contribution Pension Plan
Kroger Employee 401(K) Plan :
For any one who is working on any company will be worrying about how the future would be. Kroger gives benefit to their employees to avoid such worries about future with the help of Kroger Employee 401(K) plan. This is one of the plans Kroger offers to its employees. This plan is a retirement plan. It helps employees of Kroger to save their money for the future. 401(K) plan is an assured plan for the Kroger employees. If you are a new joinee, you will not be able to utilise the plan instantly. You have to complete six months to become eligible for this plan. Certain portion of your salary will get deducted every month according to this plan. There are three types of investments one can do under this plan. Those investments are follows.
- the stock fund,
- the professionally managed fund, and
- the target date fund
Stock fund allows one to own a portion of Kroger company. You need to decide the investment type according to your convenience. Also you need to select the amount you want to contribute under the investment plan. There will not be any federal taxes for your amount. You need to pay tax only during the withdrawal. This plan is safe and you can save for your future. Kroger is also increasing the company match for its 401(k) program to 5 percent, up from 4 percent previously.
Defined Benefit Pension Plan and Defined Contribution Pension Plan:
The Kroger Company offer many benefits to promote employee well-being. Employer-sponsored pension plans is one of the plan that helps employees to ensure a steady income stream later in life. The Kroger Company provides defined benefit pension plans and defined contribution pension plans. Businesses with defined benefit retirement plans are available. This will pay retirees a predetermined amount after retirement. Using this defined contribution retirement plan, businesses help employees to save and invest for retirement.
Kroger offers employees a competitive base salary and variable bonus plan. Some of the positions are eligible for equity awards. It also offer a 401(K) plan with a company match and associates who have the ability to purchase company stock directly from the company through payroll deductions.
Feed Your Future program:
Kroger introduced a new program called Feed Your Future program. The aim of this program is to support continuing education for all part-time and full-time associates. The new joinees will not be able to join this program immediately. However they are eligible if they complete six months of employment in Kroger. As a part of this program, Kroger offers up to $3,500 annually ($21,000 over the course of employment) to support educational advancements like high school equivalency exams, professional certifications and advanced degrees.
Kroger is offering employees the opportunity to take leaves from work for these educational pursuits while maintaining their role and seniority. This will be a fruitful benefit Kroger offers to its employees.
There was a recent wave of retailer initiatives to invest more in employees that is intended with a tightening labor market. This helps to prepare for anticipated minimum wage hikes. The minimum wage for an employee in Kroger is $7.25 an hour. Whereas some states is pushing for hikes as much as $15 an hour.
Kroger announced that it will be Utilizing the benefits that are received from the Tax Cuts and Jobs Act to accelerate some of the previously-announced, incremental $500 million investment in associate wages, training and development over the next three years. Kroger went into an agreement with union workers in Ohio for raised starting wages to at least $10 per hour, and accelerated wage progressions to $11 an hour after one year of service.
- Kroger is expanding its employee discount program for associate shopping in its stores for all Kroger brand products including Simple Truth, Private Selection, and many more. There are also discounts available for Fred Meyer Jewelry, Apple products, Weight Watchers, AT&T, Sprint, Verizon, Ford automobiles among others. This will help employees to purchase what they want in a discounted amount.
- Kroger is investing $5 million more into its Helping Hands program. This program is an internal fund raised to aid associates during hardship.
- Kroger and its units employ nearly a half million associates. This gives way for more people to join Kroger.