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Analysis of Benefit-Target Corporation

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Introduction

Analysis of Benefit-Target Corporation Nearly everyone is at least somewhat familiar with Target stores; the famous bull's-eye logo is identifiable all across the United States. With the motto "Expect More, Pay Less", the company suggests that customers can expect more of everything; at more reasonable prices. (1) Target's commitment to the consumer, as well as its employment consideration and management style led Fortune Magazine to name it as one of the Most Admired Companies in 2005. The Target Corporation prides itself on their department store roots with a constant obligation to great prices and stylish originality. The main focus of every Target store is the customer, whom the corporation refers to as a "guest", making them feel more personal. Each guest can expect to walk into a clean, organized, and easy to navigate store with "high quality, stylishly designed items plus all the essentials for his or her life". (1) The company also has a significant focus on design. ...read more.

Middle

The benefits offered at Target Corporation include health insurance, retirement and savings contributions, and also a competitive pay, a package known as "My Total Compensation". Benefits are offered to all benefits to all team members. Exempt team members are offered a full benefits package. Non-exempt team members are offered a Full-Time, Part-Time or Limited benefits package based on average hours worked and position. The full benefits package provides a variety of health care options, including account-based plans with either a Health Reimbursement Account or a Health Savings Account. If employees are eligible for benefits and their coverage requires out-of-pocket health care and/or dental expenses, they can enroll in a Flexible Spending Account (FSA) for health care. This account allows anyone to reserve a portion of their paycheck as a tax-free fund for covering eligible healthcare expenses, and even offers online account management for their convenience. Employees can have a family savings account plan with a deductible of $1,900 which cost about $2,600 a year. ...read more.

Conclusion

Employees get to choose their own dentist, or select an in-network dentist among a range of locations provided. Choosing an in-network dentist will maximize savings and reduce any out-of-pocket costs. Different Prescription Drug coverage is available. It depends on the employee's health care plan. They can either fill their prescriptions through any retail pharmacy or use a Target Pharmacy. If they use a Target Pharmacy, they can use their 10% team member discount on their out-of-pocket cost. Target also offers a mail-order program and 90- day refills at any Target Pharmacy. Target offers counseling services to their employees when they need it. The Team Member Life Resources provides confidential Counseling, support and information 24 hours a day, 7 days a week. This service can help an employee juggle everything from child-care arrangements, to concerns about aging parents, to developing a healthy dinner menu. While they do offer health insurance to their team members, one must keep in mind the recent reports that Target has changed the healthcare plan to increase the amount that employees must contribute to their coverage.(4) http://www.nytimes.com/2007/11/13/business/13walmart.html ?? ?? ?? ?? ...read more.

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