In a move to attract and retain top talent, Home Depot is investing $1 billion to boost hourly wages. Now, the beginning pay rate for frontline employees throughout the United States will be at least $15 per hour. Current workers will see the pay boost shown in their incomes this month, per a Feb. 21 business news release.
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Home Depot Benefits Package
In addition to providing competitive pay, Home Depot offers a robust benefits package to full-time partners. The suite of advantages consists of, however isn’t restricted to:
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Medical, oral, and vision insurance coverage.
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Health cost savings account (HSA).
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Healthcare and reliant care cost savings accounts.
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24/7 access to a virtual medical professional.
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Life, unintentional death and dismemberment (AD&D), short-term special needs (SEXUALLY TRANSMITTED DISEASE), and long-lasting special needs (LTD) insurance coverage.
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Pet insurance coverage.
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401(k) with business match.
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Paid time off (PTO).
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Leaves of lack (consisting of adult leave).
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Up to $5,000 repayment of adoption expenditures.
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Tuition repayment, scholarships, and tuition discount rates at partner schools.
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Discounts on Home Depot product, fitness center subscriptions, physical fitness equipment, electronic devices, groceries, meal sets, and food shipment.
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Access to college preparation, estate preparation, and investing guidance.
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Assistance protecting kid and senior care.
Interesting: Did you understand lots of worker advantages you may consider approved weren’t offered 20 years ago?
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Budgeting Tips for Hourly Wage Earners
Getting a raise to $15 per hour might help your monetary circumstance. However, you’ll need to relearn how to budget to maximize your brand-new wage. At a minimum, you must inspect your tax withholding to guarantee you take home the most money possible without owing at the end of the year. Then, you must devote to conserving a few of your earnings — even if it’s a little portion.
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This post initially appeared on GOBankingRates.com: Home Depot Giving Hourly Employees Raises — What Other Benefits Do They Provide?
