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Identify and explain the Indirect Financial Compensation of COSTCO? Identify and explain the non financial compensation...

Identify and explain the Indirect Financial Compensation of COSTCO?

Identify and explain the non financial compensation of COSTCO?

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Expert Solution

Costco is known to have one of the most comprehensive benefit structure among the US organisations. Some features of the benefit plans are given below.

Indirect financial compensation - This part is in form of contribution towards health and dental coverage plan, dispensation of subsidised medications and vision aids from the factory owned facilities, regular monthly contribution under 401 (k) retirement plan, sort term and long term disability protection and life insurance plans and long term insurance plans ( basic policy only. Upgradations can be done by employee himself / herself). By contributing towards these plan, the company protects the employees against unprecedented events of life.

Non Financial Compensation - This includes enrolment in the care network for the employees and their families to resolve personal, financial, legal or social challenges by providing counselling, guidance, information, legal assistance etc. The company also enbles the employees to purchase the stock options from their salaries without paying any additional fees or commission.

keosha answered 1 year ago
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