Speedway HR practice Essay

Submitted By steviejoe14
Words: 1549
Pages: 7

HR Practice
According to glassdoor.com, an online Comapny porfolio viewer, the average wages between Quik Trip and Speedway vary significantly. Below are the wages for the hourly Cashier/Assistant manager and Salaried Manager positions of both companies.
Cashier - Hourly $7.69/hr
Assistant Manager - Hourly $10.54/hr
General Manager $43,375
Quik Trip
Clerk - Hourly $8.74/hr
Assistant Manager - Hourly $13.94/hr
Manager $62,375 percentage difference
Clerk - Hourly - 14%
Assistant Manager - Hourly- 32%
Manager- 44%
On an average, Quik Trip pays 30% more between these three positions. Quik Trips Hourly Clerk position pays $1.05 more than Speedway's Cashier position, roughly 14% higher. Quik Trips Hourly Assistant Manager pays, on average, $3.40 more than Speedway's Equivalent position, which is about 32% more. Finally, Quik Trip pays out $19,000 more annually to Managers than Speedway, almost 50% more.
Speedway Benefits
Marathon Petroleum Corporation (MPC) employees and their family enjoy an attractive Health Care benefits package including wellness reimbursements to promote a healthy lifestyle. An Employee Assistance Program offers face-to-face counseling, work/life referral for child, elder care and legal/financial services. Adoption Assistance reimbursement is available for any eligible employee, and the Educational Reimbursement Plan helps facilitate an employee's career development goals.
The Thrift Plan 401k savings with seven percent company matching contribution is managed through Fidelity Investments; and a company pension plan, also through Fidelity, promotes long-term financial security.
MPC offers a highly competitive pay package that includes base pay, annual cash bonuses and long-term incentives for qualifying employees. These programs are designed to reward individual performance and align overall rewards with corporate and team performance. Paid time off benefits include sick leave, vacation, holiday and disability pay.
• Customer Service Bonus Potential of up to 7% of Pay
i. The Company will match, dollar for dollar, employee pre-tax, after-tax and/or Roth deferral contributions up to an aggregate of 7% of gross pay. Employees may also elect to make additional contributions consisting of pre-tax, after-tax and/or Roth deferral contributions (withdrawal restrictions apply) or a combination of the three. If an employee will reach age 50 or older by the end of the calendar year, employees can take advantage of pre-tax catch-up contributions and/or Roth catch-up contributions to their retirement savings plan of up to $5,500 for 2013. ii. Marathon Petroleum offers a Cash Balance pension plan. This Plan is provided entirely at Company expense. Under this Plan, Marathon Petroleum will provide annual Pay Credits at 7%, 9%, or 11% of eligible pay. Pay Credit percentages are determined using the sum of the employee's age and Cash Balance service. Marathon Petroleum will also provide Interest Credits which will be compounded monthly. Employees will be eligible to participate in the Retirement Plan when they are at least age 21 and have completed one year of service.* Employees are vested in the Plan upon the completion of three years of vesting service.
• Up to $3,200 Tuition Reimbursement
• DENTAL iii. if an employee receive care from a CIGNA PPO dentist, the employee pays a discounted rate for services. There is no deductible for preventative and diagnostic services; however, there is a $50 deductible per individual on other services. There is a $1,500 calendar year maximum per individual (not including orthodontic expenses). There is also a $1,750 lifetime orthodontia maximum per individual
i. The Vision Assistance Plan, insured by Anthem Blue View Vision of Blue Cross/Blue Shield, offers employees and their dependents coverage for yearly vision examinations, lenses, and contact lenses, as well as frames (every 2 calendar years). The Plan…