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Essay / Research Paper Abstract
This 6 page paper outlines the different pay structures at Wal-Mart and Lowes in the US and discusses the ethical and strategic aspects of the different pay structures. Wal-Mart is assessed in ethical terms and Lowes in the context of strategy. The bibliography cites 9 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEwallowespay.rtf
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Unformatted sample text from the term paper:
are indirectly subsidized by welfare payments, while it has a more generous pay system for the executive employees (Mattera, 2005). The current general pay scheme was introduced in 2004, but
has been adapted. Under this pay scheme is one where jobs are divided into a number of categories relating to the seniority and experience of the employees.
The employees start in the first category as a predefine level of pay, there are minim levels of pay for each category of employee, there
are also caps placed in the wages so management discretion in giving merit pay rises is constrained; a move that could adversely impact on long term employees as they reach
the caps (Business Week, 2004). The starting wages are often set at minimal levels; it is these that most often attract negative publicity.
In addition to the wages there are fringe benefits, which include low cost health insurance, with payments by the employees varying by area, but starting at $5 (Wal-Mart,
2009; FFT, 2006). Not all staff are eligible, but the firm states that 92% of employees have health coverage (Wal-Mart, 2009). The firm also gives the staff 10% discount on
much of the merchandise sold in store (Wal-Mart, 2009). Looking at the executive salaries these payments were mainly made up of a retainer and a share award. Non management
directors had a retainer of $60,000 and additional retainers paid if they were members of other boards or committees, for example, membership of the audit committee came with a $25,00
retainer. There was also an annual share award of shares worth $160,000 in 2008 (Wal-Mart, 2009). The compensation package for the management directors is heavily based on performance rewards,
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