New benefits the company added in 2005 include health insurance for domestic partners and their children, a stock purchase plan for part-time associates, and an increase in the tuition assistance program.
"CarMax associates care deeply about the communities where they live and work," said Austin Ligon, president and chief executive officer of CarMax. "This is why we have added more ways for our associates to support their communities through the CarMax Foundation."
For every hour an associate volunteers at a charitable organization, the foundation donates $10 to the charity. The foundation also makes a $500 donation when a team of associates volunteers for eligible charities. In addition, the foundation matches an associate's cash donations of up to $1,000 per year.
Additional associate benefits offered by the retailer include a $4,000 adoption assistance program, a store-wide steak dinner award program for record sales, and discounts on cars, parts, service, accessories, and extended service plans. The company provides a healthy work-life balance, encouraging professional and leadership development, hiring a diverse group of associates, and supporting community involvement.
Fortune's annual ranking of companies is based primarily upon a confidential, random survey of associates, as well as an evaluation of a company's culture, compensation, training, and turnover. CarMax ranked No. 93 on the list for 2006.