As the second-largest pharmacy store chain in the United States with over 9,000 locations and nearly 300,000 employees, Walgreens is a giant in the retail and consumer space. And the company has long been recognized as a leader not just in revenue and reach, but also in its commitment to supporting employees through generous discounts, benefits and other perks.
In this comprehensive guide, we‘ll take a deep dive into all things Walgreens employee benefits, with an eye towards providing expert insights and analysis that you won‘t find anywhere else. From the nitty-gritty details of the employee discount policy to little-known perks and how Walgreens‘ offerings stack up to other top retailers, we‘ve got you covered.
Walgreens Employee Discount 101
Let‘s start with the benefit that likely first comes to mind for prospective Walgreens employees: the in-store discount. All Walgreens team members, regardless of part-time or full-time status, tenure, or position, are eligible for a generous discount on their purchases from the first day of employment.
The discount breaks down as follows:
- 25% off all Walgreens-owned brands (Nice!, No7, Well at Walgreens, etc.)
- 15% off most national brands in the store
To put this into perspective, let‘s say a Walgreens employee buys $50 worth of eligible items, split evenly between Walgreens and national brands. With the employee discount, that $50 purchase would come out to just $40 – a savings of 20%, or $10, on a single transaction.
According to data from Walgreens‘ 2021 benefits report, Walgreens employees saved a collective total of over $30 million by using their employee discount in stores that fiscal year. That averages out to around $100 in savings per employee – a nice chunk of change back in team members‘ pockets.
To access the discount, Walgreens provides employees with a discount card linked to their employee ID number. Employees simply present this card at checkout, and the applicable 15-25% discount is automatically applied to eligible items. Employees can also use their most recent pay stub if they don‘t have their discount card on hand.
Maximizing Your Walgreens Employee Discount
While 15-25% off is already a generous discount, savvy Walgreens shoppers can stack additional strategies to save even more:
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Watch for employee-exclusive promotions and discounts, which can sometimes exceed the standard 15-25% off. Walgreens occasionally offers increased employee discounts on certain categories or during special events.
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Take advantage of Walgreens‘ Register Rewards program in addition to your employee discount. With Register Rewards, you earn vouchers for future purchases based on buying qualifying items.
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Use Walgreens-branded credit cards for purchases to get an additional 5-10% back in rewards on top of your employee discount. Just be sure to pay off your statement regularly to avoid interest charges.
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Utilize Walgreens‘ Weekly Ad and coupon matching to find deals on top of your discount. While you can‘t combine your employee discount with external coupons or promotions, you can stack it with Walgreens‘ own sale prices.
By combining your employee discount strategically with other savings tactics, you can dramatically increase your effective savings rate on everyday essentials and other purchases at Walgreens.
A Benefits Package That Goes Above and Beyond
As valuable as the employee discount is, it‘s really just one piece of Walgreens‘ comprehensive benefits package. Over the decades, the company has carefully crafted an industry-leading array of perks designed to support team members‘ health, financial security, work-life balance and professional development.
Some of the core benefits available to eligible Walgreens employees include:
- Comprehensive health insurance options, including medical, dental, vision and prescription drug coverage
- Generous paid time off, including vacation days, personal days and holiday pay
- 401(k) retirement plans with company matching contributions
- Employee stock purchase plan with company match
- Life insurance and short- and long-term disability coverage
- Flexible Spending Accounts for healthcare and dependent care costs
- Employee Assistance Program providing free counseling and other services
- Paid parental leave for new moms and dads
- Adoption assistance benefits
- Discounts on a wide range of products and services like travel, cell phone plans, entertainment and more
What‘s notable is that Walgreens extends many of these benefits to part-time team members as well as full-time ones. For example, part-time Walgreens employees are eligible for 401(k) plans, life insurance, and the Employee Assistance Program if they work an average of at least 20 hours per week.
According to Peter Aguilar, Walgreens‘ Chief Human Resources Officer, this commitment to part-time workers is central to Walgreens‘ strategy and values.
"We believe in providing meaningful, competitive benefits to all our team members, not just those classified as full-time," Aguilar said. "By extending key benefits to part-time employees, we aim to be an employer of choice for those seeking flexible opportunities and to build a workforce that more closely reflects our customer base."
Walgreens University: Investing in Employees‘ Futures
One Walgreens employee perk that particularly stands out is the company‘s robust education assistance program, Walgreens University. Established in 2013, Walgreens University provides team members with access to hundreds of online and in-person courses designed to build skills, provide career development and even allow employees to earn college credits and degrees.
Through partnerships with universities including Webster University, Purdue University Global and University of Arizona Global Campus, Walgreens employees can take advantage of substantial tuition discounts – up to 60% in some cases – for undergrad and graduate programs. Walgreens also provides tuition assistance of $3,000 to $5,000 per year for team members pursuing degrees in business-critical fields like pharmacy and IT.
Walgreens University also offers unique leadership development programs designed to help employees grow into management roles within the company. Walgreens‘ flagship LEAP (Lead, Excel, Aspire, Perform) program, for example, provides structured training and mentorship for high-potential team members interested in transitioning into store leadership positions.
According to Walgreens, over 65,000 employees have taken advantage of Walgreens University since its inception, and the program has supported more than 1,200 employee promotions into leadership roles. For a company that values promoting from within, Walgreens University is a powerful tool for developing the next generation of company leadership.
Adapting Benefits to Meet Employees‘ Evolving Needs
While Walgreens has long been a leader in employee benefits, the company has also shown a willingness to adapt and expand its offerings in response to workforce needs and broader societal shifts.
For example, in 2018, Walgreens introduced a new paid parental leave policy, providing full-time hourly and salaried employees with up to eight weeks of paid leave for the birth or adoption of a child. The policy replaced Walgreens‘ previous maternity leave program and expanded benefits to fathers and adoptive and foster parents for the first time.
Walgreens also introduced same-day pay functionality in 2020 through a partnership with financial tech company DailyPay. Through this program, employees can access their earnings immediately after completing a shift rather than waiting for their regular pay cycle. In a press release announcing the initiative, Walgreens touted it as a way to provide employees with "more flexibility and control over their finances."
More recently, in response to the COVID-19 pandemic, Walgreens implemented a number of temporary and permanent changes to employee benefits. These included additional pay for those working in high-risk situations, an expansion of paid time off policies, and extended dependent care benefits. Walgreens also accelerated a planned rollout of mental health benefits in recognition of the pandemic‘s impact on employees‘ emotional wellbeing.
These examples demonstrate Walgreens‘ commitment to continuously evaluating and enhancing its employee benefits to meet the evolving needs of its large, diverse workforce. According to Aguilar, this responsiveness and adaptability is key to Walgreens‘ benefits strategy.
"Our goal is to provide a market-leading benefits package that supports our employees in all aspects of their lives – professionally, physically, financially and emotionally," he said. "That means regularly evaluating our offerings, gathering employee feedback and making adjustments to ensure our benefits are meeting our team members‘ most pressing needs."
How Walgreens‘ Benefits Stack Up
Within the retail pharmacy industry, Walgreens is often compared to its largest competitors, CVS and Rite Aid. And when it comes to employee discounts and benefits, Walgreens more than holds its own.
As discussed earlier, CVS offers a similar discount program to Walgreens‘, with 20% off most non-pharmacy purchases and a higher 30% discount on CVS-branded products. Rite Aid, on the other hand, offers just a 10% employee discount on store merchandise – significantly less generous than Walgreens‘ policy.
When it comes to broader benefits, Walgreens also compares favorably. While all three companies offer the table stakes of health insurance, retirement plans and paid time off, Walgreens goes above and beyond in several key areas like education assistance, dependent care benefits and adoption support.
But to truly understand how Walgreens‘ benefits offerings measure up, it‘s helpful to expand the comparison to top retailers outside the pharmacy space:
| Retailer | Employee Discount | Health Insurance | 401(k) | Education Assistance | Other Notable Perks |
|---|---|---|---|---|---|
| Walgreens | 15% off, 25% on store brands | Yes | Yes | Yes, up to $5k/year | Parental leave, adoption benefits |
| Walmart | 10% off | Yes | Yes | No | 15% off cell phone plans |
| Target | 10% off, plus extra 20% wellness discount | Yes | Yes | No | 30 days paid vacation |
| Costco | None for store purchases; special employee-only shop with discounted goods | Yes | Yes | No | Free Costco membership |
| Kroger | 10% off | Yes | Yes | Yes, up to $3.5k/year | Discounts on travel and events |
As this comparison shows, Walgreens‘ employee discount is among the most generous in the retail industry, and the company is one of the few to offer a substantial education assistance benefit. While some competitors may edge out Walgreens in specific perk areas, Walgreens offers a uniquely well-rounded benefits package.
Industry accolades also point to Walgreens‘ leadership in employee benefits. The company has been recognized by the National Business Group on Health as a Best Employer for Healthy Lifestyles and has received a perfect score on the Human Rights Campaign‘s Corporate Equality Index for LGBTQ-inclusive workplace policies.
The Business Case for Benefits
For Walgreens, investing in employee discounts and benefits isn‘t just about doing the right thing – there‘s also a clear business case for it. By offering industry-leading perks, Walgreens aims to attract and retain top talent in a competitive labor market, boost employee engagement and productivity and differentiate on customer service.
Walgreens‘ own data shows that these efforts are paying off. In a 2022 benefits survey, 73% of Walgreens employees rated themselves as "highly engaged," and 92% said they‘re proud to work for the company. Additionally, Walgreens boasts a turnover rate significantly lower than the retail industry average.
These metrics have a measurable impact on Walgreens‘ bottom line. According to a study by Gallup, companies with highly engaged workers outperform their competitors by 147% in earnings per share. And research from the Center for American Progress finds that replacing an employee costs around 20% of that employee‘s salary – meaning every retained team member represents significant cost savings.
There‘s also a customer service angle to consider. In the retail industry, where frontline employees are the face of the brand, investing in team members‘ wellbeing can translate into a better customer experience. Engaged, motivated employees are more likely to go the extra mile for shoppers, driving satisfaction and loyalty.
"Our employees are our most valuable asset, and their passion and commitment are what sets us apart with customers," said Dennis Hightower, a longtime Walgreens executive who served as the company‘s CEO in the early 2000s. "By supporting our team members with competitive benefits and opportunities for growth, we‘re ultimately investing in the long-term health of our business."
The Future of Benefits at Walgreens
As Walgreens looks to the future, employee discounts and benefits will continue to be key priorities and differentiators for the company. With the labor market likely to remain competitive even amid economic headwinds, Walgreens will need to continuously evolve its perks to meet the needs of a changing workforce.
One area where Walgreens is already innovating is around flexible work arrangements. While many Walgreens roles require in-person work by nature, the company has been exploring opportunities for remote and hybrid positions at its corporate offices. Walgreens has also expanded its scheduling options for retail team members and is testing app-based shift swapping functionality.
Another key focus going forward will be on diversity, equity and inclusion (DEI). Walgreens has set public goals around increasing representation of people of color and women in leadership roles and has linked executive compensation to these DEI metrics. The company is also investing $5 billion over the next five years to advance health equity initiatives in medically underserved communities and has established a program to recruit and mentor diverse suppliers. Expect to see an increasing emphasis on DEI in Walgreens‘ benefits and employee support programs in the coming years.
Of course, Walgreens will also need to keep a close eye on the benefits landscape in the broader retail and healthcare industries and adjust its offerings accordingly to stay competitive for talent. Key watchpoints include the growing adoption of on-demand pay, the expansion of mental health and caregiving benefits and an increasing focus on upskilling and career development programs.
While the specifics may shift, one thing is clear: Walgreens remains deeply committed to providing industry-leading employee discounts and benefits that make it an employer of choice in the retail space. With a benefits strategy closely aligned to its business objectives and values, Walgreens is well positioned to continue attracting and retaining top talent while driving long-term growth.
As Rosalind Brewer, Walgreens‘ CEO, put it in a recent interview: "Our team members are the heartbeat of our company. By ensuring they have the support they need to thrive, we‘re building a stronger Walgreens and delivering better outcomes for our customers, communities and shareholders."
