Lowe's Companies Benefits

Lowe’s employee benefits program includes health and wellness plans, paid time off, financial planning, and employee discounts.

Health and wellness plans

• Comprehensive health insurance access for all full-time employees after 89 days of continuous employment

• Two co-pay options, the 500 and 750 options, with most HMOs allowing you to purchase drugs at a discount through CVS Caremark

• Vision Plan and 100% Dental coverage (imaging, two cleanings per year, and one set of X-rays per 36 months)

• Access to a flexible spending account

Time off

• Six paid holidays, including Thanksgiving and Christmas, and four floating holidays

• Unpaid family and medical leave of 12 weeks per a 12 month period

• Part-time and full-time employees are eligible for vacation based on service as follows:

  • After 1 year of service: 40 hours part-time, 10 days full-time

  • After 5 years of service: 60 hours part-time, 15 days full-time

  • After 15 years of service: 80 hours part-time, 20 days full-time

Employee perks

• Full-time employees receive eight hours of holiday pay and part-time employees receive four hours of holiday pay for each holiday

• Tuition reimbursements for some positions, as well as educational and training opportunities at Lowe's University

• 10% discount on store merchandise, with deeper discounts on select products regularly throughout the year

• Additional discounts for entertainment, retail outlets, cell phone plans, and more through the company’s corporate partnerships

• Incentive program that provides badges of honor for associates to wear on their work vests

Financial benefits

• 401(k) retirement plan, with employer matching of the first 3% you save each pay period at 100%, 50% matching for savings of 4-5%, and 25% matching for sayings of 6%

• Performance bonus

• Employee stock purchase plan

Lowe’s Benefits Package

Lowe’s offers its employees a number of benefits, including:

• Health, dental, and vision insurance

• Life and disability insurance

• Paid vacation, holidays, sick leave, and time for volunteering

• Flexible spending and health savings accounts

• 401(k) with company match

• Parental leave

In addition to these more standard benefits, Lowe’s also offers some more unique ones. Keep in mind that your eligibility for these benefits might change depending on whether you have a part-time or full-time position.

Lowe’s Employee Assistance Program (EAP)

An EAP program provides employees with access to a concierge who can help them find the resources they need for their mental and emotional needs.

These resources include free counseling, services to help them improve their work/life balance, and information on how to work on improving their mental health.

Lowe’s Tuition Reimbursement and Trades Skills Scholarships

If you want to continue your education with college courses, working at Lowe’s might be a great way to fund that. Not only will you be earning a paycheck, but after you’ve worked for the company for a year, you may be eligible for its tuition reimbursement program.

If you qualify, you could receive up to $2,500 a year to go toward your tuition and books. There are several qualifying factors you have to meet to receive that money, and you need to make a C or better in each class, but it could be a highly effective way to put yourself through college while holding a job.

In addition to the tuition reimbursement program, in 2018, Lowe’s launched a program designed to support employees who want to go into the skilled trades. The company offers tuition assistance, provides academic coaching, and places students in full-time pre-apprenticeships with Lowe’s contractors or within the company itself.

Lowe’s Adoption Assistance

In addition to the ten weeks of paid maternity leave and two weeks of paid parental leave Lowe’s offers its employees, the company also covers up to $5,000 of adoption expenses for workers who choose to bring children into their families that way.

While adoption is rewarding, it is expensive, so this benefit helps ease that financial burden for Lowe’s employees who choose that path.

Lowe’s Employee Discounts

Lowe’s gives full-time and part-time employees a 10% discount that they can use on any product, any day of the year, and it can stack on top of other discounts. Employees’ spouses get the discount as well, and often just before Christmas, Lowe’s increases the discount to 20% in anticipation of employees buying gifts for their loved ones.

In addition to this, Lowe’s also offers a discount program to its associates that allows them to get cheaper hotels, insurance rates, and even movie tickets.

Lowe’s Employee Relief Fund

Lowe’s also has a program to help its employees financially when they encounter unexpected obstacles such as house fires, funeral costs, or medical expenses. This program allows employees to contribute to the Lowe’s Employee Relief Fund (LERF), and Lowe’s will match each donation dollar-for-dollar.

When an employee suddenly needs financial assistance, Lowe’s uses money from this fund to help them cover emergency costs.