While Walter rewards more stable employees that will stay with the company for a long term. Compensation System comparison of McDonald’s Restaurant and Wall- Mart’s (Canada) Compensation Items McDonald’s Restaurant Wall-Mart(Canada) Pay and Rewards Philosophy Pay for performance philosophy. The better your results, the greater your pay opportunities. Culture rewards us. Anything is possible. Career opportunities. Base Pay Competitive wages. The average starting hourly pay $9. 97 Annual salary for Managers and wages for the crew. Competitive wages. The average starting hourly pay .
5 Annual salary for Managers and wages for the sales associate. Short Terms Cash Incentives Bonuses based on annual performance review and company strategic performance. Target Incentives Pay. Bonuses based on annual performance review and company strategic performance. They always paid bonuses since 1997 even there is a recession. Long Terms Cash Incentives Profit Sharing and Savings Plan Mac $eave MAC Direct Shares Credit Union Financial plan assistance Retirement Benefits Employee provident fund Employee state Insurance Bonus- 8. 33% of base salary at retirement year.
Gratuity-severance package Associate stock-ownership Plan Deferred profit sharing plan (100% funded by Walter stakeholder program bonus based on store performance) Group RASP Long term Disk ability coverage Resource for living (Professional life counseling service) Vacation + personal day Maternity leave Top up Leaves of Absence (including medical, personal, educational) Indirect compensation/ Benefits Company Car program Health and Protection Vision Supplement Dental Short and Long Term Disability Employee and dependent life Insurance Accidental death and dismemberment insurance Travel and business travel accident insurance Other Benefits: Vacation , Holidays Anniversary Splash Sabbatical Program Short Fridays Leave of Absence Alternative work approach Adoption Assistance Child care Educational Assistance Matching Gift Program Employee Resource Connection International Fitness club Network Auto and Home Insurance Program Beyond work purchases in Walter.
Medical Coverage Dental Insurance Life Insurance Accidental Death ; Dismemberment Insurance Illness Protection Plan/ Short term Disability. Bereavement Leave Career Advancement Opportunities Sick leave Recognition Program Employee of the month. Presidents’ Award (given to the top 1% of individual performers worldwide) Circle of Excellence Award (given to top teams worldwide to recognize their intrusions for advancing our vision). Shining star Recognition (Star of the Year) The Comparison Analysis The Philosophy of McDonald’s is” Pay for Performance”; it means that if your performance is better you will get a higher compensation. In contrast, Walter’s slogan is “Anything is possible”, meaning a lot of career opportunities are available to Walter employees.
McDonald’s is encouraging high performance culture (but that is likely suited for shorter term employees) while Walter is more suited for people who look for long term career in a company and more opportunities to grow. Both companies offer competitive base pay. The entry level the crew or sales associates get hourly wages but the senior employees/ Managers get base salary pay. Both companies offer short term cash incentives – variable bonus pay based on company performance and employee performance review. The Walter boasts that they pay bonuses even recessions. For long term cash incentives, both companies offer profit sharing plan. However, the Walter has Group RASP. Whereas, the McDonald’s has a savings plan.
The Walter offers the long term disability coverage, maternity leaves top up, while the McDonald’s offers more financial assistance programs and retirement unifies which is limited to severance package. For indirect compensation/ benefits, McDonald’s rewards top performers with a car program, while Walter gives 10% discount on everything purchased in their stores. Recognition program at McDonald’s is more intensive and includes awards like employee of the month, while at Walter it is yearly “Star of the Year’ award. Conclusion The compensation program of Walter Canada is more tailored for long term stable employees; while the program at McDonald’s is better suited for younger, likely temporary employees and encourages high performance culture.
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Compensation System of McDonald’s and Wall-Mart’s. (2018, May 25). Retrieved from https://graduateway.com/compensation-system-of-mcdonalds-and-wall-marts/