Wal-Mart Associates Place Their Company on FORTUNE's "100 Best" List
Associates of Wal-Mart Stores, Inc. have again ranked their company as one of the "100 best to work for" in FORTUNE magazine’s annual poll. Wal-Mart placed 94th in this year’s poll, is the only discount retailer to make the list, and has earned a place among the "100 best" four of the last five years. To be considered, companies allow the Great Place to Work Institute to privately survey randomly selected employees on issues such as trust in management, pride in work and company, and camaraderie. FORTUNE reports the results. Two-thirds of the score is based on how employees respond to the Great Place to Work Trust Index, a survey instrument measuring the quality of workplace culture. The remainder of the score is based on the evaluation of company responses to the Institute’s Culture Audit. This year, 279 companies applied for the list, up from 234 last year. FORTUNE said in a news release that companies making the list demonstrated "a willingness to come up with new ways to keep employees satisfied, and to treat them with respect and dignity," especially during a year in which the economy struggled, layoffs were prevalent, and terrorist attacks tested the compassion of corporate managers. "This survey is meaningful to us because it reflects how our associates actually feel about working for Wal-Mart," said Lee Scott, president and chief executive officer of Wal-Mart Stores, Inc. "The secret, as Sam Walton figured out many years ago, is to treat people with respect. If you do that, everything else has a way of falling into place." A number of unique policies and practices helped Wal-Mart make FORTUNE’s list, according to Scott:
- Wal-Mart is one of only a few companies that offer health benefits to part-time as well as full-time associates. For about $220 a year, part-time Wal-Mart associates can enroll in a medical care plan.
- Part-time Wal-Mart associates also are eligible for benefits such as incentive bonus es, a stock purchase program, merchandise discounts, discounts on child care, holiday bonuses and free professional counseling by phone 24 hours a day.
- Wal-Mart associates qualify for 401(k) and profit-sharing contributions from the company regardless of whether they make personal contributions.
- Wal-Mart’s tradition of promoting from within goes back to its founder, Sam Walton. Two out of three current managers started their careers as hourly associates.
- The company maintains an "Open Door" policy, which guarantees all associates they may speak to any member of management about any subject they wish.
- U.S. Wal-Mart associates earned $665 million in incentive bonuses in the fiscal year ending Jan. 31, 2001.
- Wal-Mart is the country’s leading employer of people of color and one of the leading employers of senior citizens and disabled Americans.
- Wal-Mart is one of the most generous companies in America. Associates last year raised and contributed more than $195 million to local charitable organizations, and the company is a leader in its support of children’s health and welfare programs.
With annual sales of $191 billion, Wal-Mart Stores, Inc. operates more than 2,700 discount stores, Supercenters and Neighborhood Markets, and more than 490 SAM’S CLUBS in the United States. Internationally, the company operates more than 1,100 units. Wal-Mart employs 1.2 million associates worldwide. Americans have named Wal-Mart the company they think of first in supporting local causes and issues, according to Cone, Inc. More information about Wal-Mart can be located online at www.walmartstores.com and www.walmart.com. The SAM’S CLUB Web site can be accessed at www.samsclub.com. And more information about Wal-Mart’s Good.Works. community involvement is available online at
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