Hy-Vee Provides Employees With More Than $167.2 Million in Bonuses and Other Benefits in 2020
WEST DES MOINES, IA - As the retail market faced challenging hurdles to overcome last year due to the pandemic, companies realized that their employees were in fact the key to a successful transition. To celebrate the efforts of its associates, Hy-Vee has revealed that in 2020 the retailer gave more than $167.2 million in bonuses and other benefits to its employees.
“Our goal for 2020 was to build upon Hy-Vee’s current benefit offerings to bring better compensation, better services, and better opportunities to our employees and their families,” said Randy Edeker, Chairman, CEO, and President. “As we start 2021, we will continue to bring more benefit offerings to our employees as we further our mission to be the best place to work in America.”
The employee-owned company has over 88,000 associates, each of which were offered new employee benefits and perks launched throughout 2020, according to a release from Hy-Vee. The newly instated benefits include tuition assistance, pharmacy bonuses, 90th anniversary gifts, as well as:
- 10 Percent Employee Discount on Groceries
- Holiday Pay
- Employee Appreciation Bonuses
- Enhanced 401(k) Plan
- Part-time Insurance
Recently, Hy-Vee also announced that free rapid antigen COVID-19 testing would be offered to its employees at 47 Hy-Vee pharmacy locations.
In addition to the benefits and perks offered to its associates, Hy-Vee revealed that it shared over $68.7 million in bonuses to its full-time employees and $6.5 million to part-time associates.
Currently, Hy-Vee is looking to hire 10,000 more employees across its eight-state region. All employees are eligible to access these benefits after 30 days of employment.
What new employee programs will other retailers offer for their employees as the grocery market continues to change and adapt? Keep reading AndNowUKnow as we bring you the latest answers.