BENTONVILLE, Arkansas (KNWA/KFTA) — Walmart has announced a four-point plan to boost hiring and invest in its workforce.
The Bentonville-based retailer will begin pay increases next month that will raise the average hourly wage for its U.S. employees to more than $17.50 per hour, according to a Jan. 24 media release. The raises “include regular annual raises for employees and targeted investments in starting rates for thousands of stores,” and will be reflected in salaries effective March 2.
A company spokesperson told CNBC that store employees’ hourly wages have increased from $12 to $18 to $14 to $19 an hour.
Retailers are introducing higher-paying auto care center team leader positions and moving tech jobs to higher compensation bands that “reflect the special skills required for the role and its importance to our business.” increase.
Walmart is also adding new college degrees and certificates to its Live Better U education program, which covers tuition fees for full-time and part-time employees.
The change comes a week after Walmart announced it was expanding its Associate-to-Driver program. This program pays a supply chain associate to obtain a commercial driver’s license and become his driver for the company’s trucks.
“And as you continue to be customer-focused, we’re offering higher wages to serve the customers of tomorrow and gain the skills to grow your career at Walmart,” said John Farner. We are focused on investing in you, our store associate, through new opportunities and new opportunities,” said Walmart’s president and CEO. “No matter where you are on your journey, starting here can open the door to a career and a job that builds a better life.”
In 2021, Walmart will raise the average hourly wage above $15.
Other retailers have raised their minimum hourly wages in recent years. Hobby Lobby raised its hourly rate to $18.50 early last year, while Starbucks and CVS Health raised their hourly rates to $15 last summer. Target has announced that in early 2022, he will set a starting salary range of $15 to $24.