Target plans to set a new starting wage range from $15 to $24 and expand access to health care benefits for its team members and their families.
With these new enhancements, the retailer will invest up to $300 million more in its team in the year ahead.
Target announced in 2017 that it would raise its starting wage to $15 per hour, hitting the milestone nearly two years ago. The company is now taking its next step by setting a new starting wage range from $15 to $24.
The new approach will apply to hourly team members working in Target stores, supply chain facilities, and headquarters locations. The exact starting wage within the range will depend on the job and the local market, with market-level wages set by the retailer based on industry benchmarking, local wage data, and other metrics.
Beginning in April with its new benefits cycle, Target also will roll out broader, faster access to health care coverage for its hourly team members and expand coverage for more employees. They will reduce the enrollment waiting periods and add additional benefits, including virtual physical therapy at no cost, enhanced fertility benefits, and new wellness offerings.
Target has made other enhancements to its employee packages over the past five years, including offering debt-free education assistance program, family-focused investments, like adoption and surrogacy reimbursement, access to more stable schedules, and ongoing coronavirus benefits, including providing free backup care for all team members.
“We continuously listen to our team members to understand what’s most important to them, then use the feedback to make investments that meet their needs across different career and life stages,” said Melissa Kremer, chief human resources officer for Target, in a statement. “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.”
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