Albertsons Employee Benefits Review: Are Their Careers Worth It?

Albertsons Employee Benefits Review: Are Their Careers Worth It?

You Albertsons was founded in 1939. The headquarter of the American retailer is in Boise, Idaho. It is a private corporation and controlled by investors. Albertsons employee benefits are comprehensive. They help employees thrive personally and professionally.

Albertsons has 12 different brands and about 20 chains. The company was in 53rd place on Fortune 500’s largest U.S. corporations by revenue.

The retailer has 2,268 locations and around 267,000 employees. It sells different products including grocery items, frozen food, bakery items, seafood, produce, snacks, meant, and pharmacy.

Albertsons Employee Benefits Team

Cathy Lord – VP of Human Resources

Cathy Lord – VP of Human Resources

Cathy Lord joined Albertsons companies in 2015 as VP Human Resources. Before that, she worked for Safeway, which merged with Albertsons later.

Lord’s responsibilities at Albertsons include employee benefits, compensation, and relocation. She also manages talent acquisition and the company’s three campuses.

Cathy Lord received her MS and BS in Human Resources Management from Golden Gate University. She also holds a Health Coach Certification from the Institute of Integrative Nutrition.

Find her on:

LinkedIn

What are Albertsons Employee Benefits?

Here is a detailed summary of Albertsons employee benefits:

Employee BenefitsDescription
Healthcare Plan
Coverage is offered through BlueCross. You get multiple plan options including PPO, High Deductible Health Plan, and BlueCross Bronze Plan.
Dental Coverage
Dental coverage offers multiple plans. Basic Plan, Standard Plus Plan, and PPO are offered through Delta Dental. And Aetna offers the DMO plan.
Vision Coverage
Coverage is administered by VSP. Employees can also buy their eyewear from www.eyeconic com. You get coverage for contact lenses, glasses, frames, and diabetic eye care.
Disability Coverage
Short-term and long-term disability coverage is administered by The Standard. The plan pays 60% of your basic salary for STD. LTD coverage pays 60% of employee’s covered earnings per month.
Retirement Plan
The 401 (k) Plan is administered by Vanguard. 401 (k) contributions are made on pre-tax money. You get a 50% match up to 7% of your salary.
Flexible Spending Accounts (FSA)
You can set aside some money for Dependent care and Healthcare FSA. The maximum contribution to FSA is $2,700 per year.
Basic Life Insurance & AD&D
You get Basic Life Insurance and AD&D. Basic Life maximum for hourly employees is $250,000 and for salaried employee is $2,000,000. AD&D maximum is $1,000,000.
Education Assistance
The 529 plan is administered by the State of Texas. Employees can save for universities, colleges, and graduate schools. You can also have a College Savings Plan and Scholarship programs.
Paid Time-off
You can get 1-25 weeks of vacation days. You can also take personal time off.
Maternity and Paternity Leave
Albertsons does not offer any maternity or paternity leave. You will have to use your PTO or some other coverage for it.
Universal Life
It is administered through AllState Benefits. It offers long-term care coverage.
Work Injury
This benefit covers employees who get injured at work. you get coverage in case of death as well.
Employee Discounts
Employees get discounts on brands and generic products.
Employee Assistance Program
It offers employees help with their day-to-day personal and professional challenges.

What Benefits is Albertsons Known for?

The main goal of benefits is to offer a good employee experience and increase employee retention. That is why at Albertsons employees get excellent health, wellbeing and financial coverage plans. The affordability of these plans is also one of the major reasons why the company enjoys a high level of employee engagement.

A few of the most talked-about employee benefits include:

  • A comprehensive health plan including Dental and Vision coverage.
  • A 50% 401 (k) match up to 7% of your pay.
  • Paid vacation for up to 5 weeks. PTO includes sick leaves and personal time off.
  • Maternity leave can be taken through PTO.
  • Employee discounts.
  • Short-term and long-term disability coverage is available.
  • Life insurance is available.
  • Dependent care FSA

Albertson’s health plan is administered by BlueCross. Employees get to choose from a few options including, Standard PPO, High Deductible Health Plan, Basic PPO, and the Bronze Plan. All these plans have different premiums and deductibles. They offer both in-network and out-network coverage. You also get coverage for Dental (Aetna & Delta Dental) and Vision (VSP).

As for Albertsons’ PTO,  employees get vacation days, sick leaves, and personal time off. The number of leaves depends on your years of service. Start from 1 week of paid vacation after 1 year of service up to 5 weeks after 25 years. Employees in Mexico get 5 weeks after 20 years. Sick leave is between 30 to 80 hours, depending on your years of service.

Employees at Albertsons have an excellent retirement plan, which is offered to both full-time and part-time employees. The 401 (k) plan is administered through Vanguard. Albertsons also offers a good match of 50% up to 7% of your salary. The contributions are made on the pre-tax dollar. Employees who have had the account for 5 years and are 59.5 years old or over can withdraw for no tax.

According to Glassdoor, employees get a 5% discount on brands and 10% on generic items.

Besides these major perks, there are plenty of more benefits that keep employees happy and employee morale high.

How does Albertsons Help with Student Loans?

Albertsons does not help employees with their student loans. The company does offer education assistance through College Savings and Scholarship programs. To enroll in the College Savings plan, employees have to make weekly contributions. Scholarships are awarded to eligible and deserving employees.

Student loans are not a trivial matter as these massive debts are defining the career paths of Americans. That is why, most of the college graduates look for employers who would offer student loan support instead of following their ambition. There are also a few grants that help with student loan repayment. Besides grants, you can also qualify for student loan forgiveness programs. You can also make the process easier through steps like interest deduction or loan consolidation. However, most of these processes are too technical for a non-financial person.

The best for companies to offer student loan support is through FutureFuel. The platform helps employees speed up the student loan repayment process. FutureFuel allows both the company and its employees to create their personalized secure accounts. Employees can manage their student debt through their accounts while employers can transfer company contributions through theirs. These are just some of the features you get by using this unique platform.

How do Albertsons Benefits Change for Different Jobs?

Albertsons offers a very comprehensive benefits package to all its employees. But these benefits change for different job types. They also depend on employees’ years of service. Here is how the benefits change from job to job:

  • Most of the benefits are offered to union members only. Non-union members will have to join the union to get the same benefits.
  • Vacation days increase with your years of service. You get 1 week after a year, and 5 weeks off after 25 years.
  • Hourly employees can get a maximum of 4 weeks off.
  • In Mexico, employees get 25 days after 20 years of service.
  • Life insurance maximums are different for hourly and salaried employees.
  • Coverage changes with state policy as well.
  • The retirement plan is not offered to employees who are below the age limit of 21 years.

The kind of benefits you get also depend on the Albertsons brand you work for.

How Albertsons Improved its Benefits Package Overtime?

Albertsons was founded in 1939. During this time the retailer has never shifted its focus from keeping its employees satisfied and happy. The company constantly updates its benefits package so that its employees can keep up with the ever-changing economy.

The benefits also improve with the years you spend with the company. For example, your vacation days increase with the number of years you spend at Albertsons. You also get regular salary increments.

Besides improvement in benefits, Albertsons also keeps introducing policies that offer lower premiums and make insurance plans more affordable.

Are Albertsons Careers Worth It?

Albertsons offers many benefits and plans that help shape employees’ professional careers. They also have an impact on their personal wellbeing. Here are a few factors that will help you see how a career at Albertsons is worth it:

  • Plans, such as healthcare and insurance, are not too expensive. The coverage these plans offer is quite extensive. It allows you to save a good amount of money on medical and insurance bills.
  • The savings plan offers a good match. So, the retirement plan can set you up well for your post-employment life.
  • Your number of paid leaves gets better with time.
  • Albertsons offers a good education assistance program. It also awards scholarships to its employees. So, you can continue your education without spending all your money.

Besides these factors, the salary is quite competitive at Albertsons. Plus, benefits like employee discounts make it easier for you to manage your finances.

Discover Albertsons Jobs and Careers

Here are a few places where you can find all the latest job openings at Albertsons.

Albertsons Careers

The Albertsons careers page lists down all the job openings. You can make the search process easier and faster by using the search tool. It also allows you to look for jobs according to your preferences. Each job posting has all the necessary job-related details. You can submit your application online.

Albertsons Glassdoor

Albertsons has thousands of vacancies on Glassdoor. To save time, you can make the search process faster and easier through the search tool. Moreover, you can click on each job posting to see all the related information. The website also has hundreds of user reviews. They will help you understand the company’s work culture.

Albertsons Indeed

Besides Glassdoor, Indeed is also a good place to look for jobs at Albertsons. The website offers all the job-related information and a powerful search feature. Besides employee reviews, it has a Q&A section. This section contains detailed information about the company’s work culture.

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