Are perks the secret to associate job retention at retail? – RetailWire

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Jan 24, 2022

Lululemon for the second year in row was the highest-ranking retailer on Glassdoor’s annual list of the “100 Best Places To Work,” coming in at the ninth spot. Like many other retailers landing on the list, perks were particularly called out in Glassdoor employee reviews of the company.

For full-time Lululemon employees, the perks include a 60 percent employee discount. Part-timers (under 25 hours a week) earn a 40 percent discount.

Another perk cited in reviews is Lululemon’s “Sweaty Pursuits” program, which provides associates with $250-per month to cover fitness and meditation classes in their local communities.

Finally, a “generous” benefits package was cited in numerous reviews, which includes mental health coverage, paid-time off and paternity leave.

The second-rated retailer on the list, Trader Joe’s, at 32, also received many reviews that highlighted employee perks, including its 10 percent employee discount and regular free food tastings. Similar to Lululemon, Trader Joe’s enhanced benefits, including a 401K/retirement plan, dental insurance and vision insurance, were cited in several employee reviews.

Many reviews of the other eight retailers on Glassdoor’s top-100 list — including H-E-B (ranked at 33), eBay (55), Apple (56), Wegmans (80), Vans (84), Madewell (88), Scheels (90), Costco (93), REI (95), and Malouf Companies (98) — also cited benefits and employee discounts.

Employee discounts include 40 to 60 percent at Madewell and 50 percent off regular priced items at Vans. Apple staffers earn product discounts (including some that can be shared with family and friends), tuition reimbursements, gym credits and stock purchase opportunities.

Costco and Wegmans don’t provide employee discounts but were praised in Glassdoor reviews for their benefits and other factors.

Beyond perks and benefits, the retailers making Glassdoor’s top-100 list all generally had in common strong culture and values as well as a positive and supportive work environment. Some retailers were commended for competitive pay, flexible scheduling (particularly for students) and opportunities for advancement.

According to LinkedIn’s “2022 Global Talent Trends” report, workers say their top priority in a new job is work-life balance, cited by 63 percent, followed by compensation and benefits (60 percent) and colleagues and culture (40 percent).

DISCUSSION QUESTIONS: How important are product discounts, free food, gym credits, tuition reimbursements and other perks in supporting retail employee satisfaction and retention? What factors are likely more important in ensuring a content store staff?

Braintrust

“Perks are a nice add-on, but they won’t make up for a toxic culture, poor leadership, or lack of advancement opportunities.”

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