Target has announced it will adopt a minimum wage system that will pay company employees up to $24 an hour. The current starting wage is $15 an hour, but from Monday said that the wages would be ranging from $15 to $24. The starting rate will depend on the job, the market and local wage data, among other factors.
This is also a part of a company plan to spend an additional $300 million on its labor force this year that will also include broader, faster access to health care coverage for its hourly workers. Hourly employees who work an average of at least 25 hours a week will become eligible for a Target medical plan, which means about 20% more employees will have access.
Most health plans should also include virtual physical therapy and acupuncture at no cost, along with more fertility benefits. Team members also will gain faster access to 401(k) plans.
“We want all team members to be better off for working at Target, and years of investments in our culture of care, meaningful pay, expanded health care benefits and opportunities for growth have been essential to helping our team members build rewarding careers,” said Melissa Kremer, chief human resources officer at Target.
Target is offering team members a total package that responds to their evolving needs. In the past five years, the company has invested in:
- An industry-leading debt-free education assistance program with access to more than 40 schools and 250+ business-aligned programs.
- Access to health care for all team members via virtual doctor visits and mental health counseling, as well as online resources to support mental, emotional and physical well-being.
- Family-focused investments, including adoption and surrogacy reimbursement and paid family leave.
- Access to more stable schedules and one-on-one meetings with team leaders to accommodate team members’ desired hours.
- Ongoing coronavirus benefits, including providing free backup care for all team members, offering paid leaves, providing all U.S.-based hourly team members with two hours of pay per dose (including boosters) when they get the coronavirus vaccine, and providing all U.S.-based team members with free Lyft rides to get to and from their vaccine appointments.
Love this!!!
👏🏼👏🏼👏🏼 Go Target!!!!! All companies should follow the same example…take care of your employees
Way to go Target, Kudos on leading by example!