Target Sets Starting Minimum Wage at $15
MINNEAPOLIS, MN - When it comes to investing in its employees in terms of minimum wage, Target has long been at the front of the grocery pack setting the tone for the industry. Now, after incrementally raising the minimum wage for its workers over the last couple of years, Target is once again redefining the standard for the industry by permanently raising its starting wage to $15, beginning July 5, 2020.
“In the best of times, our team brings incredible energy and empathy to our work, and in harder times they bring those qualities plus extraordinary resilience and agility to keep Target on the forefront of meeting the changing needs of our guests and our business year after year,” said Brian Cornell, Chairman and CEO. “Everything we aspire to do and be as a company builds on the central role our team members play in our strategy, their dedication to our purpose, and the connection they create with our guests and communities.”
In addition to the wage increase, Target is continuing to acknowledge its front-line team members by giving them a one-time recognition bonus of $200.
With these two major changes, according to a press release, Target will invest nearly $1 billion more this year in the well-being, health, and safety of its workforce than it did in 2019.
“The most important investments we make are in our team. I have tremendous gratitude for the way our team members show up with such purpose and pride for our guests, communities, and one another,” said Melissa Kremer, Chief Human Resources Officer. “These investments help ensure that team members can build meaningful careers, take care of themselves and their families, and contribute to building our communities through their work inside and outside of Target.”
Back in 2017, Target committed to a $15 minimum wage by 2020, which the retail giant accomplishes in its latest move. Other grocery mega-names like Amazon and Walmart are implementing similar moves. But, how will Target’s top competitors respond to the company’s latest minimum wage raise? AndNowUKnow will continue to follow along with the latest industry updates.