Wal Marts Compensation And Benefits Program - 1406 Words

High Turnover Rate Having a high turnover rate is the major effect of these challenges with Wal-Mart’s compensation and benefits program. If employees are dissatisfied with their pay they are more than likely going to find another job. People need to support themselves and their families and without proper pay it is not possible. Wal-Mart employees have been quitting left and right because they have found another company that will pay them a better and fairer wage for the same position. The high number of employees quitting due to low wages has caused Wal-Mart to have a high turnover rate. However, this is not Wal-Marts only reason for such a high turnover rate. The lack of health insurance benefits offered to employees is the main and perhaps the most important cause of high turnover rate for Wal-Mart. People need health insurance not only for themselves but for their families as well. Without health insurance Wal-Marts workers are not able to see doctors when they or their family gets sick or even for a regular checkup. Since their employees are not getting the health benefits needed they are leaving Wal-Mart to find another company that will give them the health benefits needed and for a lower out of pocket premium. Wal-Mart also teaches manufacturers to be more cost-effective so product prices can stay down. For example, Wal-Mart might suggest that a supplier cut its labor costs by shipping toasters in their cartons, rather than packing them in bigger boxes andShow MoreRelatedWalmarts Compensation Strategy: The Reason for the Companys Success Profitability and Position1768 Words   |  7 PagesWal-Marts Compensation Strategy: The success of companies in todays market place is a process that involves the way business practitioners manage its workers and the financial resources and structures. 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