Lowe's 2003 Annual Report Download - page 15

“It’s hard to describe the pride I feel when I see the customers we call ‘regulars’
come in. I know they have choices, and just the fact they choose to come back
time and time again lets me know our employees are doing it right.”
MIKE HICKS
|
District Manager
Investing in our employees. Behind each red vest, our customers can find
direction, encouragement and advice. At Lowe’s our culture is one of service and we are
committed to equipping our employees with the right tools to satisfy our diverse customers’
needs. In addition to ongoing comprehensive training, Lowe’s enhanced our Customers First
program in 2003, a program designed to define excellence in service and execution of the
fundamentals of retailing. While everyday low prices and quality products bring customers
through our doors, it’s the people and the level of service that keep them coming back.
Our people are the foundation of our success and the primary contact with customers. An investment in them is an
investment in the long-term success of Lowe’s. In addition to competitive compensation and bonus opportunities, Lowe’s
offers employee benefits such as an employee stock purchase plan, which provides employees the opportunity to purchase
Lowe’s stock at a discount and encourages them to share in the ownership of the company. Through the company’s 401(k)
retirement savings vehicle, contributing employees receive a baseline match with the opportunity to earn an additional
performance match as a reward for helping Lowe’s reach its earnings goals.
Lowe’s encourages employees to grow with the company and supports this growth with financial assistance to attend
colleges and universities, executive development opportunities and management training programs. Our store manager
training program, an integral part of our management development, seeks to cultivate tomorrow’s store managers through
extensive training sessions. As a part of the program, Larry Stone and other members of Lowe’s executive management team
are actively involved in providing insight to the store managers of tomorrow, a testament to the importance Lowe’s places on
continuity in management and the sharing of knowledge. With a culture of promoting from within, Lowe’s has a pipeline of
seasoned talent ready for the opportunity to manage a new Lowe’s store.
The culture at Lowe’s is one of dignity, mutual respect, personal pride and fairness, which fosters an environment
committed to diversity and inclusion. As our workforce grows, open communication across the chain continues to be a focus,
nourished through our monthly employee newsletter, the Lowedown, sharing relevant company information with all employees.
Through employee surveys and open doors to management, employees are invited to share their thoughts, ideas and
suggestions. The foundation on which Lowe’s stands is made up of our employees, 147,000 and growing. Providing world-class
service one customer at a time, Lowe’s employees stimulate innovation and help maximize the performance of the company.
2003 ANNUAL REPORT 13