Costco Employee Benefits & Perks
Are you searching for Costco Employee Benefits & Perks to know what benefits are offered to the employees by the company? This article explains all the benefits offered by Costco Wholesale for the betterment of the lifestyle of its employees.
Costco Wholesale is one of the largest retail stores that is based on membership shopping, that is a membership is required for shopping from Costco. The company has around 800 wholesale or big box stores worldwide which is being operated by 270,000 employees. The company delivers organic foods, chicken, and beef to its members and subscribers. It is the 10th company ranked in the Fortune 500 list and it maintains its status and expansion objectives by keeping its employees happy and satisfied. The company has several benefits, facilities, and performance-based perks for its loyal and hard-working employees.
Eligibility for Costco Employee Benefits
There are a few prerequisites to becoming eligible for the Costco employee benefits. They are as follows,
- A person should be a full time employee of the organisation. Any part time employee or intern is not eligible for getting the benefits.
- The person employed in a certain country in Costco should be the citizen or permanent resident of that country.
- An individual should have a valid employee id for availing the benefits.
Costco Employee Benefits – Complete Details
Costco offers numerous benefits for its employees. Apart from providing the employees with basic benefits like medical and life insurance, pension contribution, paid leaves; the company also provides free medical checkups for dental and vision related issues, various offers and performance based rewards. These things are important to keep a large and professional workforce motivated to do the job in the most efficient way possible.
The employees are happy and satisfied when most of the needs of their families are met and the organization provides assistance during any medical emergencies. In the next paragraph, we are going to discuss each benefit in detail.
Costco Employee Benefits and Perks
- Medical Insurance: The organisation provides a decent medical or health insurance for the employees and their families. This covers financial assistance for any kind of illness and hospitalisation of the employee and his/her family.
- Vision and Dental Checkups: Regular and free checkups are available for the employees in for any vision or dental related problems. The employees can avail these benefits freely when available by registering with their employee ID.
- Life Insurance: The employee is covered under the life insurance program of the company whose premium cost is paid by the company and the family gets a lump sum in case of unfortunate death of any employee.
- Disability Insurance: The Company provides both Long Term Disability Insurance and the Short Term Disability Insurance that covers the employee to protect the beneficiary that is the family of any employee.
- 401(K) Savings Plan: Costco matches the employee’s contribution towards the 401(K) plan at a rate of 50:50. That is the amount contributed by the employee is also paid by the company towards his/her pension savings.
- Profit Dividend: Costco provides their employees a share of their annual profit to motivate the employees in their jobs. It is an exciting perk that is not so common in other companies in the industry.
- Leaves and Paid Time Off: The employees are provided with a limited numbers of PTOs annually for vacation, holiday and medical purposes. The company also provides Maternity, Paternity and Childcare leaves for its employees who becomes new parents.
- Child Care Assistance: Costco pays for the day-care spending of any employee’s child up to 13 years of age. It really helps the employees in preparing their educational spending in control.
- Thanksgiving Turkey: The Company provides a turkey to each of the employees on thanksgiving as a gesture of goodwill towards the employees.
Careers at Costco
As you can see, there are indeed lots of perks and facilities for working in Costco wholesale. So if you are eligible for their openings you can give it a try and it will surely boost your carrer options. You can see all the openings, vacancy notifications, job options in their website’s career page at https://www.costco.com/job-opportunities.html . Best of luck!
- Costco Official Website Link:
- Costco Career Webpage Link:
- Costco LinkedIn Job Search Link:
Costco is the fifth largest retail chain and it has multiple stores around the world. The Company registered a net income of $ 4 Billion in the year 2020 and has a market cap of around $ 45.4 Billion. The organisation serves over 100 million members and subscribers through their retail chains.
We hope that this article have helped you in providing the necessary information that you needed. You can checkout Employee Benefits and perks of various other companies on our website. If you have any queries or doubt, then please feel free to comment below and you will be answered soon. Thank you and have a great day!