Are you excited to read the topic Lowe’s Termination Policy.
Lowe’s is the biggest home improvement in the USA. It has more than 300,000 employees. Lowe’s gives various employment benefits to their employees, but they also have a strict termination policy. Every employer has a set of ethics and code to be followed by all the employees. On breaching these codes, the employer can terminate you. Lowe’s also has a termination policy. Let us know what it is?
Lowe’s termination policy is called Employment Transition Policy. Under this policy, you could be fired for breaching rules and showing irresponsible behavior at the workplace. However, after termination, you could re-join Lowe’s after six months. Notably, after termination also you can continue with some of the employment benefits that Lowe’s offers.
Why Lowe’s can terminate you?
Lowe’s has a set of codes of ethics that guide employees’ behavior at the workplace. Any act of an employee that compromises Lowe’s codes and ethics could lead to the employee’s termination from the company. In brief, the following are the main reasons for employee’s termination from Lowe’s-
- If employees sacrifice the company’s interest for their interest, Lowe’s can immediately terminate them.
- Lowe’s can fire an employee for doing unethical, discriminatory, and dishonest with employees and colleagues.
- Any act of corruption and bribery is intolerable at Lowe’s.
- Breaking the information confidentiality policy of Lowe’s could also lead to the termination of an employee.
- An employee could also be fired for using the company’s assets and image for personal gains.
- Any act of theft and insider trading can also seize your job from Lowe’s.
- Poor work performance and insufficiency in work could also be a reason for termination.
Based on the seriousness of the act, employees could be warned once or fired immediately. Some acts are even fined and punishable under the law. There is also the provision of legal actions with the terminated employees in certain cases.
Termination based on absence from the workplace
Other than the code of ethics, Lowe’s employees are also expected to follow the attendance policy. Lowe’s can immediately terminate employees who don’t follow the attendance policy of the company. Here is Lowe’s attendance policy for employees-
You can’t be late more than twice a month.
You will be answerable to HR the third time you came late to work. HR may not terminate you this time but, may give you a warning later. But even after warning if, the behavior doesn’t change and you repeat the same habit in the upcoming months, Lowe’s can fire you.
You can’t take more than five leaves in a year
Lowe’s allows only five absences per year apart from medical and other leave benefits. In this case, also, you will not be directly fired on your 6th absence. However, HR will give you up to two warnings after five absences. After the two warnings, you will directly receive a termination later.
What happens to employment benefits after termination?
Lowe’s offers various employment benefits like insurance, retirement plans, health care, etc. to its employees. But what happens to these plans when Lowe’s fires you out of the job?
Medical Insurance
Lowe’s provides medical, dental, and vision insurance to its employees. But after losing the job at Lowe’s, you won’t lose your medical insurance. To continue with the insurance, Lowe’s will transfer your medical insurance to COBRA and notify you about the same. You can contact COBRA if you want to continue the insurance.
401(k) plan
After losing your job at Lowe’s, employees can opt for either distributing their 401(k) plan or getting it in a lump sum. An employee can distribute this plan to any other employer within 30 days of termination. If not distributed, the employee can take the full money of the 401(k) plan. However, 20% tax will be charged in this case.
Life Insurance
Lowe’s offers basic, supplement, and dependent life insurance options. After termination, an employee has a time of 31 days for deciding whether to terminate the life insurance or port it to an individual life insurance plan.
Clearing Balance
The employer and employee both have to clear all their previous payments and dues till the date of employment. Lowe’s will inform you about this by sending a mail to your home address.
Conclusion
Lowe’s has an Employee Transition policy that guides the termination of employees. Employees who go against the code of ethics designed by Lowe’s are subjected to termination. Employees also have to follow the absence policy to save themselves from termination. However, after termination, also employees can receive their medical benefits through COBRA.
FAQ
- Can Lowe’s terminate you without specifying any reason?
Answer: The employees that are hired ‘at-will’ employment at Lowe’s could be terminated without any reason. However, Lowe’s cannot terminate employees based on discrimination.
- Can Lowe’s hire me again after termination?
Answer: The rehiring at Lowe’s depends on the reason for termination. If the reason is not the serious one, an employee could join Lowe’s after 6 months. But employees who were fired after serious allegations could not re-join the company.
