Does Walmart Have Good Benefits in 2022? A Deep Dive for Workers

As an experienced ecommerce seller, I often get questions from people considering working for major retail chains. One of the most common is: Does Walmart have good benefits compared to other major retailers?

The short answer is yes. Walmart provides a relatively strong benefits package, especially in key areas like healthcare, 401(k), and stock awards. In this detailed guide, I‘ll analyze Walmart‘s compensation and benefits for 2022 to help you make an informed decision if you‘re considering working there.

A Quick Overview of Walmart Benefits

Before we dive in, here‘s a high-level snapshot of the benefits Walmart provides:

• Health insurance – Multiple plan options with vision and dental. Available for both full-time and part-time workers.
• 401(k) with match – 6% matching contributions from Walmart is a very competitive rate.
• Stock awards – Reward high performers with shares of Walmart stock.
• Discounts – 10% off regular priced Walmart items plus special deals.
• Paid time off – Includes vacation, sick days, parental leave. Amount varies.
• Training – Investment in on-the-job training and development opportunities.
• Inclusive culture – Focus on diversity, community support, and promoting from within.

Walmart also provides benefits on par with other major retailers when it comes to wages, bonuses, employee perks and resources.

Now let‘s analyze Walmart‘s pay and benefits in more detail.

When Do Employees Get Benefits?

One question many people have is how long you need to work at Walmart to qualify for benefits. Here are the details:

• All associates, including part-time and seasonal workers, become eligible after 60 days of employment. This is when the waiting period ends.

• You can enroll in benefits online or meet with a People Lead at your facility when eligible.

• Coverage will start on the 1st of the month after your 60 day waiting period ends.

• Walmart does a good job communicating when new associates become benefits eligible. But you should also track your eligibility date and enroll promptly.

Overall, Walmart makes employees eligible for full benefits faster than many other major retailers. For example, Target has a 90 day waiting period and Amazon currently has no major medical benefits for part-time roles.

What About Stock Options or Purchase Plans?

I sometimes get asked if Walmart offers any stock options or stock purchase plans for employees. Here are the details:

• Walmart does not currently offer stock options to any associates. Stock options provide the ability to buy company shares at a discounted price.

• There is also no employee stock purchase program. These plans let staff conveniently purchase company stock through payroll deductions.

• The only way associates can acquire Walmart stock is through Walmart‘s Outstanding Performance Award.

So unfortunately, direct stock ownership is not an option for Walmart employees. The award shares are a nice perk but not a replacement for stock options or purchase plans.

Do Part-Time Workers Get Benefits?

Walmart extends benefits eligibility to both full-time and part-time hourly workers. Here are some key notes about Walmart‘s part-time benefits:

• Health insurance – Part-time associates can elect medical coverage after 60 days. Premiums are prorated based on average weekly hours.

• Dental and vision – Part-time staff can enroll in dental and vision coverage.

• 401(k) – Part-time associates can contribute to a 401(k). Walmart matches 15% of the first $1,800 contributed.

• Stock awards – Part-time workers are eligible for Outstanding Performance stock awards.

• Discounts – All employees receive 10% off regular priced Walmart items plus access to special deals.

• Paid time off – Part-time associates earn PTO proportionate to hours worked.

Part-time positions over 30 hrs/week also qualify for tuition assistance, parental leave and more.

This demonstrates that Walmart invests in providing strong benefits for both full and part-time hourly associates.

The Best Walmart Benefits – My Top Picks

Based on my analysis as an Amazon seller, here are the Walmart benefits that stand out to me as exceptionally strong:

1. 401(k) Matching

• Walmart matches up to 6% of pay. This is an extremely competitive employer match.
• The average 401(k) match is only 4.3% according to Willis Towers Watson.
• 6% match can result in thousands in extra retirement savings per year.

2. Outstanding Performance Stock Awards

• This program rewards top performers with shares of Walmart stock.
• Unique in retail to provide an ownership stake for hourly associates.
• Gives employees a tangible stake in the success of the company.

3. Health Insurance Options

• Walmart provides a wide range of medical plans to choose from.
• Choices include PPOs, HMOs, HDHPs tailored to needs and budget.
• All plans include $4 prescriptions at Walmart pharmacies.
• Walmart covers transgender care and some fertility treatments unlike many major corporations.

4. Employee Shopping Discounts

• Associates get 10% off regular priced Walmart items.
• Discounts apply in stores and online at Walmart.com.
• Can save families thousands per year on grocery, apparel, electronics purchases.
• Special deals available through the Associate Discount Center.

5. Education Benefits

• Employees can earn a college degree for only $1 per day through the Live Better U program.
• Over 52,000 degrees and certificates have been awarded since launch.
• Investing $365 per year in education leads to greatly enhanced earning potential.

Based on these top benefits, Walmart is highly competitive, especially for the retail industry. The combination of strong 401(k), discounts, stock awards and education really stand out.

Do Walmart Employees Get Free Walmart+ Membership?

Walmart+ is the retailer‘s popular membership program that offers benefits like unlimited free shipping and fuel discounts. Do employees get this for free?

• Walmart employees do not receive a 100% free Walmart+ membership.

• However, they can receive a heavily discounted membership rate of just $98 per year.

• The regular annual fee for a Walmart+ membership is $138.

• So employees receive about a 30% discount on membership.

• To get the employee rate, workers must enroll in Walmart+ through the Associate Discount Center.

The nearly $40 in annual savings is a nice perk for employees. But it would be even better if Walmart offered associates a totally free membership. Perhaps this could change in the future as they continue enhancing employee benefits.

What is the Walmart Associate Discount Center?

The Associate Discount Center is an online portal where Walmart employees can access special discounts and deals such as:

• Walmart+ membership – Get discounted $98 annual rate.

• Walmart.com – Exclusive pricing on top-selling items.

• Rental cars – Up to 30% off rental cars from participating brands.

• Movie tickets – Discounted tickets for major theater chains like AMC and Regal Cinemas.

• Theme parks – Deals on Walt Disney World, Universal Studios, SeaWorld, and more.

• Cell phone plans – Reduced rates on plans from AT&T, Verizon, T-Mobile and other carriers.

• Hotels – Save up to 25% on Choice Hotels and Wyndham properties.

This provides easy access to Walmart‘s employee discounts all in one place. The Associate Discount Center unlocks big savings on entertainment, travel, and everyday purchases.

A Breakdown of Walmart Health Insurance Options

Walmart provides a diverse range of medical plans to meet different needs and budgets:

• Multiple networks – Choice of HMOs, PPOs, and high deductible plans.

• National and regional plans – Coverage from major insurers like UnitedHealthcare and Anthem BlueCross BlueShield based on location.

• Low premiums – Access to coverage for under $30 per pay period in some cases. Varies by plan type.

• Pharmacy benefits – All plans include $4 prescriptions at Walmart pharmacies. Saves huge on prescriptions.

• Premier plan – One of the most affordable options with copays as low as $35 per visit.

• Saver plan – Pair with Health Savings Account to maximize tax-advantaged savings.

• Hawaii plans – Tailored Kaiser and HMSA provider networks for Hawaii residents.

• Trans health benefits – All plans cover transgender care including hormones, therapy, surgeries.

• Fertility benefits – PPO plan covers some infertility diagnosis and treatments.

This variety of health plan options makes insurance accessible and affordable for Walmart workers. Associates can choose the best plan based on their healthcare needs and income level.

The Bottom Line: Does Walmart Have Good Benefits?

Looking at Walmart‘s overall compensation, they provide a relatively strong benefits package, especially for retail:

Pros

• Health insurance choices with low premiums
• 6% 401(k) match is better than most companies
• Outstanding Performance stock awards
• Associate shopping discounts can save thousands
• Education benefits like $1 per day college degrees

Cons

• No stock purchase options for associates
• Hourly wages lag behind competitors like Costco and Target
• No free Walmart+ membership provided

Based on this detailed analysis, I would conclude that Walmart offers good benefits that can provide significant value for many workers. The healthcare, 401(k), discounts, and education options really stand out.

The benefits paired with Walmart‘s focus on inclusion, development, and community make it an appealing choice for job seekers across the country. While wages could improve, the overall compensation package is solid.

I hope this guide from an experienced ecommerce seller‘s perspective helps provide insights if you‘re considering joining the Walmart team. Let me know if you have any other questions!