Whole Foods Compensation Essay Example
Whole Foods Compensation and Benefits
Unit 8 Assignment
Fundamentals of Human Resources
Capella University
Kathy Guzman
Dec. 7, 2012
To give you an idea of the hourly rates per position at Whole Foods, here is a short list:
Cashier-hourly-$10.36, Team Member-hourly-$10.85, Prepared Foods Team member-hourly-$10.85, Customer Service-hourly-$10.31, Grocery Team Member-hourly-$11.39, Team Leader-hourly-$11.39, Team Leader-hourly-$22.45, Produce Team Member-hourly-$11.18, Associate Team Leader-hourly-$17.17, Buyer-hourly-$13.56, Bakery Team Leader-hourly-$11.41, Specialty/Wine Team Leader-hourly-$11.52, Customer Service Supervisor-hourly-$13.43, Prepared Cook-hourly-$12.50, Front End Supervisor-hourly-$14.41, Associate Store Team Leader-annually-$60,171, Team Leader-annually-$55,914, Seafood Team Member-hourly-$11.03, Buyer/Specialist-hourly-$14.56, Demo Specialist-hourly-$13.08, and Prepared Foods Supervisor-hourly-$13.78. These are the main positions in the store and along with their wages listed. Employees up and down the food chain at this natural foods market have benefitted from its rapid growth. The stock has tripled in the past three years, and even part-timers are eligible for stock options (2006, http://money.cnn). In an article that appeared in the magazine, “Fast Company”, Whole Foods Market CEO John Mackey stated that the board of directors has voted to raise the salary cap from 14 times the average pay to 19 times the average pay effective immediately (2007, FastCompany.com). Raising the salary cap had become necessary to ensure the retention of key leaders. Most large companies also pay their executives large amounts of stock options in addition to large salaries and cash bonuses. However, this is not the case at Whole Foods Market. The average large corporation in the US distributes 75% of their total stock options to only 5 top executives with the remaining 25% going to everyone else in the company (actually most of the
Unit 8 Assignment
Fundamentals of Human Resources
Capella University
Kathy Guzman
Dec. 7, 2012
To give you an idea of the hourly rates per position at Whole Foods, here is a short list:
Cashier-hourly-$10.36, Team Member-hourly-$10.85, Prepared Foods Team member-hourly-$10.85, Customer Service-hourly-$10.31, Grocery Team Member-hourly-$11.39, Team Leader-hourly-$11.39, Team Leader-hourly-$22.45, Produce Team Member-hourly-$11.18, Associate Team Leader-hourly-$17.17, Buyer-hourly-$13.56, Bakery Team Leader-hourly-$11.41, Specialty/Wine Team Leader-hourly-$11.52, Customer Service Supervisor-hourly-$13.43, Prepared Cook-hourly-$12.50, Front End Supervisor-hourly-$14.41, Associate Store Team Leader-annually-$60,171, Team Leader-annually-$55,914, Seafood Team Member-hourly-$11.03, Buyer/Specialist-hourly-$14.56, Demo Specialist-hourly-$13.08, and Prepared Foods Supervisor-hourly-$13.78. These are the main positions in the store and along with their wages listed. Employees up and down the food chain at this natural foods market have benefitted from its rapid growth. The stock has tripled in the past three years, and even part-timers are eligible for stock options (2006, http://money.cnn). In an article that appeared in the magazine, “Fast Company”, Whole Foods Market CEO John Mackey stated that the board of directors has voted to raise the salary cap from 14 times the average pay to 19 times the average pay effective immediately (2007, FastCompany.com). Raising the salary cap had become necessary to ensure the retention of key leaders. Most large companies also pay their executives large amounts of stock options in addition to large salaries and cash bonuses. However, this is not the case at Whole Foods Market. The average large corporation in the US distributes 75% of their total stock options to only 5 top executives with the remaining 25% going to everyone else in the company (actually most of the