When Is Home Depot Success Sharing 2023

When Is Home Depot Success Sharing 2023

When Is Home Depot Success Sharing 2023?

Overview

Home Depot’s Success Sharing program is a semi-annual bonus paid to eligible associates based on the company’s financial performance. The bonus is typically distributed in March and September of each year.

2023 Success Sharing Dates

According to Home Depot’s official website, the 2023 Success Sharing distribution dates are as follows:

  • March 2023: Eligible associates will receive their Success Sharing bonus on Friday, March 17, 2023.
  • September 2023: The date for the September 2023 Success Sharing bonus distribution has not yet been announced. However, it is typically paid in mid-September.

Eligibility

To be eligible for Success Sharing, associates must:

  • Be employed by Home Depot as a full-time or part-time hourly associate.
  • Have at least 1,000 hours of service during the relevant six-month performance period (January-June or July-December).

Calculation

The Success Sharing bonus is calculated as a percentage of the associate’s eligible earnings during the performance period. The percentage varies depending on the company’s financial performance and is determined by Home Depot’s management.

Example

For example, if an associate earned $12,000 in eligible earnings during the January-June 2023 performance period and the Success Sharing percentage is 10%, the associate’s Success Sharing bonus would be $1,200 ($12,000 x 10%).

Additional Information

  • Success Sharing is not considered part of an associate’s regular wages and is not subject to federal withholding taxes.
  • Associates who are on leave of absence or disability during the performance period may still be eligible for Success Sharing if they meet certain criteria.
  • Home Depot reserves the right to modify or discontinue the Success Sharing program at any time.

Table: Success Sharing Distribution Dates

YearMarch DistributionSeptember Distribution
2023March 17, 2023TBD
2022March 18, 2022September 16, 2022
2021March 19, 2021September 17, 2021
2020March 20, 2020September 18, 2020

Interesting Facts about Home Depot’s Success Sharing Program

  • Home Depot has paid out over $1 billion in Success Sharing bonuses since the program’s inception.
  • The Success Sharing program is a key factor in attracting and retaining associates at Home Depot.
  • Associates who participate in the Success Sharing program are more likely to be engaged and motivated.
  • Home Depot’s financial performance has a direct impact on the size of the Success Sharing bonus.
  • The Success Sharing bonus can make a significant difference in the lives of Home Depot associates.

FAQs

Q: What is the maximum amount of Success Sharing that an associate can receive?
A: Home Depot does not disclose the maximum amount of Success Sharing that an associate can receive. However, the bonus is typically capped at a certain percentage of an associate’s eligible earnings.

Q: Can I receive Success Sharing if I am a part-time associate?
A: Yes, part-time associates who meet the eligibility requirements can receive Success Sharing.

Q: What happens if I leave Home Depot before the Success Sharing distribution date?
A: If you leave Home Depot before the Success Sharing distribution date, you will not be eligible to receive the bonus.

Q: How can I check my Success Sharing balance?
A: You can check your Success Sharing balance on the Home Depot website or through the MyTHDHR app.

Q: What is the difference between Success Sharing and a 401(k) plan?
A: Success Sharing is a semi-annual bonus paid to eligible associates, while a 401(k) plan is a retirement savings plan offered by Home Depot. Success Sharing is not invested in a 401(k) plan.

Disclaimer: Please note that the information provided in this article is based on the available sources and may be subject to change. It is always recommended to contact Home Depot directly for the most up-to-date information about the Success Sharing program.

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