Hardware Retailing

NOV 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

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Page 62 of 78

HARDWARE RETAILING | November 2017 58 Home Centers W ages for home center employees also increased from the 2014 study to the 2017 edition. Owner and officer salaries nearly doubled, which likely reflects the large, high-performing operations that participated in this year's research. Salaries for all full-time home center positions increased. For example, the average wage for a department manager increased from $16.65 per hour to $19.39 and, for cashiers, went up from $9.76 to $11.89 per hour. Warehouse personnel salaries increased by the second-highest percentage, going from $8.40 per hour to $14.86. The majority of the study participants offer retirement plans to employees, with 36.7 percent providing a 401(k) and 16.8 percent offering SIMPLE (Savings Incentive Match Plans for Employees) IRAs. The most common fringe benefits that home centers offer include employee discounts, retirement plans, noncommission salary bonuses, cellphones and educational reimbursements. Vacation days are another benefit home centers offer to full-time employees. On average, they provide 12 vacation days per year to managers and assistant managers, about 11 to other full-time workers and six to part-timers. Types of Health Insurance Plans Offered by Home Centers The home centers that contributed health insurance information to this chart, at minimum, offer medical insurance to store managers and assistant managers. On average, payroll accounts for 20 percent of sales at home centers. Employee turnover during the past 12 months was 13.1 percent at home centers, on average. 0% 10% 20% 30% 40% 50% PPO 47.06% HSA 20.59% Don't Offer Insurance 17.65% HMO 8.82% FSA 5.88%

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