If you are currently in search of a retail job either for the holidays ahead or as an ongoing full time job, the folks at Target just raised the bar, and likely have vaulted ahead of other retailers in search of help with newly announced plans to raise their minimum hourly wage and keep raising it for the next several years as well.
Target Corporation today announced plans to raise its minimum hourly wage for all team members to $11 in October, along with a commitment to increasing the minimum hourly wage to $15 by the end of 2020. Company officials says, this significant investment in its team will allow Target to continue to recruit and retain strong team members and provide an elevated experience for its guests and in the communities it serves, including right here in Benton Harbor with their Fairplain Plaza store.
Target Chairman & CEO Brian Cornell says, “Target has a long history of investing in our team members. We care about and value the more than 323,000 individuals who come together every day with an absolute commitment to serving our guest.” Cornell adds, “Target has always offered market competitive wages to our team members. With this latest commitment, we’ll be providing even more meaningful pay, as well as the tools, training and support our team needs to build their skills, develop professionally and offer the service and expertise that set Target apart.”
By moving to an $11 minimum hourly wage this fall, Target will provide pay increases to thousands of team members across the country before the holiday season. This increase will also apply to the more than 100,000 hourly team members that Target is hiring for the holiday season. The commitment to move to a minimum hourly wage of $15 will be implemented between now and the end of 2020.
On average, Target employs 160 team members per store and offers career planning and development opportunities, with one in four store leaders having come from hourly positions within a Target store. Also, more than 60-percent of Target team members live within five miles of the store where they work. Target has been recognized for its efforts to invest in its team, including ranking on Fortune’s list of the World’s Most Admired Companies and DiversityInc’s list of Top Companies for Diversity and being named one of the Top 50 Companies for Executive Women.
Target currently pays market competitive rates above the federal minimum wage at all stores nationwide. Target’s last major wage increase was in 2016, when the company moved to a $10 minimum hourly wage. A minimum hourly wage of $11 is higher than the minimum wage in 48 states, and matches the minimum wage in Massachusetts and Washington. Additionally, Target offers a variety of schedules to meet the needs of its diverse population and works with its teams to build schedules around their availability. With input from its team members, Target posts store schedules in advance, allows store team members to trade and pick up shifts at their store location, and doesn’t conduct on-call or snap scheduling at its stores.
Target offers a number of benefits for its team members, including a 10-percent merchandise discount at Target and Target.com and an additional 20-percent health and wellness discount on fresh fruits and vegetables, all Simply Balanced products and C9 merchandise.
Comprehensive health and wellness programs are available for eligible team members, including healthcare benefits, paid parental leave, paid short-term disability and free access to life resources such as nurse, mental health support, financial counseling and legal services. The company also offers financial resources for its team members, including Target Credit Union, a dollar-for-dollar 401(k) match for eligible team members, tuition reimbursement for GED, Undergraduate, Graduate and Masters Degrees and tuition discounts at many accredited schools.
Essentially, Target associates just picked up a nice early Christmas bonus and will continue to keep the money flowing into the future.
