Target Expands Starting Wage Scale, Lowers Bar for Health Coverage
Target, which led the movement among major retailers to a $15 hourly minimum wage (see Ref:1801090015]) five years ago, announced Monday it’s setting a $15 to $24 hourly starting range and expanding healthcare benefits for employees and their families. The…
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retailer will invest up to $300 million in its team over 2022 as part of the company’s Target Forward initiative to create “equity and opportunity” for its employees, partners and communities, said Melissa Kremer, chief human resources officer. The new wage structure will apply to hourly team members working in Target stores, supply chain facilities and headquarters locations, it said. Starting wages will vary by location based on the local job market with “market-level wages" set by the retailer based on factors including industry benchmarking and local wage data. In April, the company will roll out “broader, faster” access to healthcare coverage for hourly employees, plus new benefits, including virtual physical therapy at no cost. About 20% of Target’s team will be newly eligible for comprehensive healthcare benefits, the retailer said. Hourly store team members who work a minimum average of 25 hours a week will be eligible to enroll in a Target medical plan vs. the previous minimum of 30 hours per week. Employees will also get faster access to 401K plans, it said.