110. Sears

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 231 (to date)

2007: 191

2006: 86

100% of internships are paid, 0% are unpaid.

2007 interns came from the following classes...

0% Freshman

0% Sophomores

100% Juniors

0% Seniors

...and from the following majors:

60% Business

1% Computer Science

2% Economics

2% Engineering

35% Liberal Arts

0% Math

0% Science

0% Undeclared

0%

There is an official summer internship program

Average summer program: 12 weeks

Minimum: 8 weeks

Maximum: 12 weeks

Average hourly wage: $12.00

Average total intern compensation: $5,760

74% of eligible 2007 interns received full-time job offers

44% of interns with offers accepted

Applicants & New Hires

Recruited on 36 undergrad campuses in 2007-08.
Made job offers on 32 undergrad campuses.

Applicants for entry-level jobs

2008: 352 (to date)

2007: 551

2006: NA

Entry-level hiring

Entry-level hiring is not complete for 2008.

New hires in:

2008: 199 (to date)

2007: 121

2006: 154

Entry-level hires who were undergrad interns

2008: NA% (to date)

2007: 41%

2006: 42%

Most important characteristics for new hires:

2 Analytical Skills

3 Communication Skills

1 Leadership Skills

2007 entry-level hires came from the following majors:

60% Business

1% Computer Science

2% Economics

2% Engineering

35% Liberal Arts

0% Math

0% Science

0% Undeclared

% Other

...and are:

NA% African American

NA% Hispanic American

NA% Asian American

NA% Other

23*% Total minorities

52% Female

Notes: To date, 40% of new entry-level hires were minorities in 2008.

Salary & Benefits

Entry-level hires since Jan. 1, 2008 (to date)

Average base salary:
$45,000 to $49,999

0% earn less than $35,000

0% earn $35,000 to $39,999

12% earn $40,000 to $44,999

74% earn $45,000 to $49,999

0% earn $50,000 to $54,999

0% earn $55,000 to $59,999

0% earn $60,000 to $64,999

12% earn $65,000 to $69,999

0% earn $70,000 to $74,999

0% earn $75,000 and above

Bonuses, Overtime & Perks

15% received signing bonuses

Average signing bonus: $5,333

0% received performance bonuses in their first year on job

Average performance bonus, 2007: NA

47% of 2007 entry-level hires eligible for overtime

53% of 2007 entry-level hires not eligible for overtime

Reimburse employees for education expenses? No

Do employees become eligible immediately? NA

Maximum annual education reimbursement: NA

Full grad school sponsorship for jr. level employees? No

Partial grad school sponsorship for jr. level employees? No

Time Off

Total paid vacation days

Vacation days during first year: 10

Vacation days after one year: 10

Vacation days after three years: 10

Vacation days after five years: 15

Vacation days after 10 years: 15

Total paid holidays: 6

Paid time off for religious observances and/or floating holidays:

Floating holidays/religious observance days off per year: unlimited

Paid sick/personal days allowed in first year: unlimited

Flextime is an option for entry-level employees

Health Benefits

Do entry-level hires have access to health plan? Yes

Employees pay part of the cost? Yes

Does health plan provide dental coverage? Yes

Extra charge for dental coverage? Yes

Does health plan provide vision coverage? Yes

Extra charge for vision coverage? Yes

Are same sex partners permitted as dependents? Yes

Pension and Profit-sharing

Do entry-level hires have access to 401(k)? Entry-level hires are given access to a 401(K) savings plan

Max. company match as a percentage of salary: 5%

Min. employee set-aside as a percentage of salary to receive max. co. match: 5%

Are entry-level hires eligible for company funded pension? No

Are entry-level hires eligible for profit-sharing program? Yes

Other Benefits

Does company match employee charitable gifts? No

Does company pay relocation expenses? Yes

Max. annual relocation expenses? $2,000

Employee Discounts on the following:

Car rentals

Gym memberships

Cell phone service

Insurance

Cultural events

Work Environment

Average entry-level work week: 45 hours

Does average vary by business unit, department? Yes

Entry-level hire work locations...

0% in open work stations

50% in cubicles

0% in shared offices

0% in private offices

50% have no company-supplied work space

Typical dress code

Business Casual

Casual Friday

Casual

Business

Organization sponsors employee volunteer opportunities

Does organization have fitness facilities on site? Some locations*

Notes: Corporate office in Hoffman Estates, Illinois offers a fitness facility.

Training Programs

The organization has a formal orientation program for new hires

Program length: 1 days

Orientation includes the following:

Guest speakers

Team building activities

Facilities tour

Benefits overview

$25,000 average spent on training, per new hire, in 2007

There is a formal leadership or management training program that lasts less than a year:

Program Name: National Retail Trainee Program

How do new employees enter the program? Hired into the program*

If not hired directly into program, when are most new hires first considered eligible?

The program is rotational.

The employee spends time at 1 location or business unit.

24-week training program

After completion of program, what percentage of employees receive a raise? 25% to 49%

How much is the typical raise: Up to 5%

There is a formal leadership program for entry-level hires that lasts a year or more.

Program Name: Business Analyst Program

How do new employees enter the program? Hired into the program

If not hired directly into the program, when are most new hires first considered eligible?

Is program rotational? Yes

If so, how many locations or business units does the employee spend time at? 2

Minimum rotations: 1

Maximum rotations: 3

Length of program, in weeks: 104

Minimum: 52 weeks

Maximum: 104 weeks

After completion, what percentage of employees receive a raise?: 75% to 99%

How much is the typical raise: Up to 5%

Does company have formal mentorship program? Yes

NA% of entry-level hires participate

5 days of additional training expected

Notes: Individuals may also enter the National Trainee program if they are a current associate graduating with an undergraduate degree. In this case, individuals are recommended for the program by their store manager.

Getting Ahead

Three-year retention rate: 74%

Five-year retention rate: NA%

How are raises determined?

Performance

When are most entry-level hires eligible for their first raise?

6 months to 1 year

How are promotions determined?

Performance

When are entry-level hires eligible for first promotion?

6 months to 1 year

Evaluations

Frequency of evaluations

Annually

Most important characteristics for entry-level hires:

2 Analytical Skills

1 Leadership Ability

3 Teamwork

Min. tenure in years required for job change: 1

Long-Term Prospects

Does position of vice president exist at this organization? Yes

If not, is there a comparable title?

No. of employees who hold VP or similar title: 160

No. of employees with VP or similar title with 20 years plus seniority: 33

Age of youngest employee with VP or similar title: 34

Seniority of youngest employee with VP or similar title in years: 3