Target, in their effort to boost their employees, has announced recently that they will raise the hourly minimum wage by $2 from $13 to $15 per hour. The change will be a permanent one and will start on the 5th of July.
The COVID-19 pandemic has been a disaster for everyone, especially independent business owners. But fortunately, for big corporations, their corporate safety net has enabled them to operate even when businesses are going down left and right. So, Target’s actions come as a necessary step for them to ensure safety and empathy towards their low wage workers.
In a statement released, the corporate giant also promised a “recognition bonus” for frontline workers in their stores and distribution center. The bonus will be one-time and will be a hefty amount of $200.
Brian Cornell, CEO and chairperson of Target, said that the company appreciates the agility and resilience of its employees working during the global pandemic. He added that the incredible empathy and energy brought by their store staffers are what keeps the company going.
Target’s Decision To Raise Minimum Wage Will Affect 275,000 Employees
The retail mammoth first decided and made public its intentions to increase the minimum wage in 2020 was in 2017.
But since the pandemic escalated in March, Target had to bump the hourly minimum pay early. The temporary increase was supposed to end by 4th July, but as has been announced, the change will be permanent.
Target CEO Brian Cornell also said that the company is dependent upon its team players to meet their yearly goals. He added that the staffers play a huge role in building a friendly community with their customers.
Target’s Efforts Come As A Sign Of Relief For Its Low Wage Employees
The increase in hourly minimum pay is not the only decision the company has taken. Target will now be offering its workers virtual access to doctors and health care workers. The free virtual access will be activated throughout this year. The offer will be available to all the staff members, regardless of whether they are enrolled in Target’s health care plan.
Moreover, the company has also extended all its vulnerable employee’s paid leave by 30 days. Additionally, health care benefits will also be given to an employee’s family members.
Target also stated that they will be increasing their investment in health care plans by around $1 billion more than what they invested last year. The company added that the safety and well-being of their staff members are paramount.
The decision comes amidst a major push by the public for retailers to increase the minimum wage for their workers working during this global pandemic.
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