The entire WAG compensation system is out of whack. I agree the bonuses are screwed up. What on earth does the store manager have to do with Pharmacy sales? Nothing.
What's more troubling to me, is the way in which pharmacist raises are handed out. Rather than a performance based system where your raise is based on your performance, all pharmacists are given the same % increase each year. If you do a lousy job all year you get the same raise as some who busts it all year. Where is the incentive to work hard? Hello Walgreens Management is anyone home? This is compensation management 101 stuff, why doesn't WAG get it?
Also the company should be using WAG options (in addition to yearly bonus) to incentive high performing pharmacists in high volume key stores. You can keep that silly Share Walgreens. Hand out option grants to over performing pharmacists in key stores. Options work just as well in pharmacy as they do in business and high tech. Employee loyalty, dedication, and retention. Again basic compensation management 101 stuff.
Also, when you call a big pharmacist meeting and make people drive 100+ miles to one location, the least you can do is offer them Bagels and Coffee or if the meeting carries over lunch - some Pizza and Soda. This company is so short cited when it comes to the the little things that take care of good employees.
WAG take care of the employees that are returning the biggest $$$ for the company.
""The entire WAG compensation system is out of whack."" From a stockholder perspective, all these bonuses suck any possibility of raising the dividend. I'm sure, in many positions, you can get good people to fill these posistions without paying huge bonuses in addition to the salary. The trouble with owning Wag stock is that the shareholder is last on the list, in managment's view to share in profits. The good ol boys take care of each other and leave nothing for the stockholder except phycological stock value. Growth through leasing property instead of buying and building equity. Ahh, but we can say no long term debt. Burnhour, 8 Mil a year in "compensation", for what? Walgreens= bullshi*, stockholder=bagholder
I totally agree with you. I do like where all the pharmacists make the same salary, but do give additional stock options to the pharmacists and techs in the high volume stores. I do no mean a 100 stock options, but perhaps a 1000 stock options for each employee. show them that they are appreicated
>> Good ol boy perks and compensation at shareholder expense. But shareholders arent told this. <<
Sure they are, dipshit. Ever heard of a proxy statement? It's all right there for you to see and decide if you want to invest in a company that pays its "good ol boys" so much money. I'm glad you don't handle my investments. You probably use a ouija board.