WEST DES MOINES, Iowa (KEYC) — Hy-Vee, Inc. announced Monday that it gave more than $167.2 million in bonuses and other benefits to its employees in 2020.
The more than 88,000 employees had the opportunity to share in the company’s success in a variety of ways, the Iowa-based company said in a news release.
New employee benefits and perks launched by Hy-Vee in 2020 include:
- 10% employee discount on groceries: Employees and their families saved more than $30.6 million in grocery discounts in 2020.
- Holiday pay: On select holidays, Hy-Vee retail employees can earn an extra $1 to $2 an hour. In 2020, more than $2.2 million was awarded in holiday pay.
- Employee appreciation bonuses: In a show of appreciation for long hours worked during the COVID-19 pandemic, Hy-Vee gave employees 10% bonuses on their hours worked during specific time frames, resulting in $28.3 million shared in additional bonuses.
- Enhanced 401(k) plan: Employees who participate in Hy-Vee’s 401(k) plan can become employee owners in Hy-Vee through the employee ownership stock fund. Beginning Sept. 28, 2020, Hy-Vee increased the matching contribution to 50% for every dollar contributed, up to the first 7% of pay; and all active employees became 100% vested in current and future matching contributions. In 2020, Hy-Vee gave nearly $29.9 million in matching contributions.
- Part-time insurance: Eligible part-time employees are enrolled in a supplemental life insurance policy provided by Hy-Vee, and eligible part-time employees can select from a variety of health care plans with an employer contribution.
- Tuition assistance: Employees and their immediate family members are eligible to enroll at Bellevue University and receive annual tuition assistance. Under the program, eligible employees can receive as much as $10,500 in tuition assistance each year.
- Pharmacy bonuses: Hy-Vee pharmacists and pharmacy technicians who assist with Hy-Vee’s rapid antigen COVID-19 testing receive an additional $250 to $500 bonus for participating in the public health program.
- 90th-anniversary gifts: In honor of Hy-Vee’s 90th anniversary in 2020, more than $1 million in prizes were randomly given away to employees across the company.
Most recently, Hy-Vee announced free rapid antigen COVID-19 testing to its employees. Hy-Vee offers rapid antigen testing at 47 pharmacy locations via an outdoor drive-thru testing process.
“Our goal for 2020 was to build upon Hy-Vee’s current benefit offerings to bring better compensation, better services and better opportunities to our employees and their families,” said Randy Edeker, Hy-Vee’s chairman, CEO and president. “As we start 2021, we will continue to bring more benefit offerings to our employees as we further our mission to be the best place to work in America.”
Additional benefits introduced by Hy-Vee in 2020 included free employee membership for Care.com, access to PerkSpot for special discounts, two weeks of paid parental leave, adoption reimbursement and fertility reimbursement.
In 2020, Hy-Vee reportedly shared $68.7 million in bonuses to full-time employees and $6.5 million in bonuses to part-time employees.
Hy-Vee is also currently seeking to hire more than 10,000 employees to fill positions across its eight-state region.