Wal-Mart’s PR people have a press release out today that may give the anti-Walton forces of the world some pause. According to EVP Linda Dillman, the company has dispersed “$1.1 billion in profit sharing, 401(K), stock purchase and merchandise discounts to hourly associates in the U.S.” over the last fiscal year.
I would bet that most people who are skeptical of Wal-Mart’s business practices are entirely unaware of these hundreds of millions of dollars in benefits. The release also noted the results of a recent third-party study on employment benefits:
Wal-Mart’s philosophy of sharing its profits with full-time and part-time hourly associates is rare in the retailing industry. The Hewitt Benefit Index®, conducted by global human resources services company Hewitt Associates, shows that Wal-Mart scored 217.4 on retirement savings benefits, while the average retail score is 100. The next closest retailer to Wal-Mart in the retirement savings benefits category scored 199.1.
What do you say to that, Wal-Mart Watch?