Target Offering Up to $24 an Hour Starting Wage
Target on Monday said it will offer starting employees up to $24 per hour and expand health care coverage for its hourly team members.
The retailer announced that it will invest up to $300 million more in its team within the coming year.
These expanded offerings help advance key portions of the company’s Target Forward strategy that aim to create equity and opportunity for Target’s team, partners, and communities, company officials said in a news release.
The company is now setting a new starting wage range of $15 to $24 per hour, which 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 factors.
At the start of its new benefit cycle in April, Target said it will offer faster access to health care coverage for its hourly team members, in addition to new and enhanced benefits. Hourly store team members who work a minimum average of 25 hours a week will be eligible to enroll in a Target medical plan, down from the previous requirement of 30 hours per week. This means about 20 percent of Target’s team will be newly eligible for comprehensive health care benefits, according to the company.
Target also will reduce the waiting period for all eligible hourly team members to enroll in a Target medical plan and provide additional benefits, including virtual physical therapy at no cost, enhanced fertility benefits, and other new wellness offerings, as part of most Target medical plans. Team members also will gain faster access to 401(k) plans.
“Our team is at the heart of our strategy and success, and their energy and resilience keep us at the forefront of meeting the changing needs of our guests year after year,” Melissa Kremer, chief human resources officer, said in a statement. “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. 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.”