Question

Please write an introduction of COSTCO Whole Sale Corporation?

Describe and explain the Total Compensation plan of COSTCO?

Answer 1

Please write an introduction of COSTCO Whole Sale Corporation?

COSTCO is a chain membership warehouse club,it provides the best possible prices on quality brand name merchandise for the customer, The organization sells wide variety of name brand products. The company also owns Kirkland signature brand of product , provides the discount price for the individuals who are members of the selected employee team and other business. COSTCO has more than hundred branches in the world which provides the wide selection of the merchandise, along with convenience  of executive members service and specialty departments, this makes the customer shopping experience pleasurable one. This membership warehouse club is established in early 1980's by James Sineagal and Jeffrey Brotman  and later became big industry, expanding their business in international market. Around 360 warehouses located in US, mexico, Canada, Japan, Korea, Taiwan, and UK.

The company offers lower prices and good value by removing virtually all the frills and price historically associated with the conventional retailer and the wholesaler including billing and account receivables, delivery, sales people and fancy buildings. The warehouse implemented with the single motive to help business houses which is sized from small to medium in order to reduce the cost in purchasing for resale and any of the daily business use.The COSTCO website had registered with 61.37 million visitor in 2009. The company also has three e-Commerce web domains such as "costco.com, costco.co.uk,and costco.ca" for US, UK and Canada markets respectively. In addition to the the company also runs travel sites at costcotravel.com only for its members.The company showcase the more and most exclusive product category selection that are available under the single roof. It includes, home appliances, groceries, television, media and candy, hardware, toys,tires, automotive supplies, jewellery , sport goods, books, cameras, healthy and beauty products, watches, house wares, furniture, tobacco, office supplies etc. The COSTCO warehouse provide the highest quality with national recognizes brands with 100% guarantee products with price which is comparatively less compared to the retailer or wholesaler. COSTCO wholesale industry also operates manufacturing business such as food packaging, jewellery distribution, optical labs.

Describe and explain the Total Compensation plan of COSTCO?

COSTCO offers one of the best compensation plan and the benefit packages not only for the retail but also across the industries. Based on the review of COSTCO has number two position in work based on the compensation and the benefit packages. The COSTCO company compensation and benefit packages are as follows.

• The full time as well as the part time employees who are eligible are offered with health care coverage with low bi- weekly payroll contributions. It includes medical, prescription drug, vision, hearing aid, behavioral health care benefits
• Full time employees can choose from 2 different dental plans- core dental plan and premium dental plan, whereas part time employees can choose core dental plan
• Pharmacy programs- Most of the COSTCO warehouse has the Pharmacy in the house, it makes easy to pick up the prescriptions at the workplace
• 401(K) plan- help employees to save for a comfortable retirement. Once the employees meets the eligible needs the company makes yearly contribution to their account ,this is based on the percentage of the eligible earnings.
• Stock purchase plan and money management information
• Disability insurance, long term care insurance, life insurance , dismemberment insurance and accidental death insurances are provided
• Health care reimbursement account - eligible employees can arrange to have a pre-tax contribution which is automatically deducted from the employee paycheck and placed in the health care reimbursement account.