Walmart is offering new benefits to its U.S. hourly workers, ranging from a new bonus plan to opportunities to move into specialized jobs within the company. The benefits package announced Wednesday comes as the nation’s largest private employer says it is seeing a drop in employee turnover. But Walmart, like other employers, faces a still competitive job market and increasing demands from its employees. Walmart’s new bonus plan for eligible part-time and full-time U.S. store employees – including those at its pharmacy and vision centers – is based on their store’s performance, with the maximum bonus potential being also related to years of experience. For example, a full-time worker who works at Walmart for between one year and almost five years can earn a maximum bonus of $350 per year, while a 20-year full-time worker can earn a maximum bonus of $1,000, Walmart said. This plan will be available to 700,000 American workers, the company said. In January, Walmart announced that its U.S. store managers would receive up to $20,000 in Walmart stock grants each year. The company, based in Bentonville, Arkansas, is also launching a training program. for hourly workers in its U.S. stores and supply networks, which will provide them with the opportunity to advance to positions in facility maintenance, refrigeration, heating, ventilation and air conditioning, as well as automation. Walmart said it plans to increase that number of skilled workers from 450 to about 2,000 over the next two years. The jobs pay between $19 and $45 an hour and workers will be paid during training, the company said. Walmart’s average hourly wage is around $18, an increase of 30% over the past five years. Walmart’s starting wages for U.S. workers range from $14 to $19 an hour. The training program is expected to start with 100 workers in the Dallas-Fort Worth area. He is part of the Walmart Academy, one of the largest skills development programs in the country. Last month, Walmart reported another quarter of strong results as its low prices lure shoppers looking for discounts amid stubbornly high inflation. have been attracted to the retailer because it improves the quality of its items and strives to provide more convenient ways to shop. Two-thirds of Walmart’s market share gains in the aisles come from this group, Walmart said. Walmart said the skilled trades initiative is similar to a program announced two years ago that gave employees who work in its distribution and fulfillment centers a chance to become certified Walmart truck drivers through a 12-week program taught by the company’s established drivers. At the time, the company announced it was raising wages for its 12,000 truck drivers. The starting range for new drivers is now between $95,000 and $110,000 per year. The retailer said $87,500 was the average salary new truck drivers could earn in their first year. Walmart spokeswoman Anne Hatfield said the trucker program has trained more than 500 new drivers since it launched in spring 2022. That has helped the company navigate the broader industry. shortage of truck drivers. Walmart offers similar training and development programs for pharmacy technicians and opticians. Meanwhile, Walmart announced Wednesday that it is increasing the number of skills certificates available to help front-line workers quickly access about 100,000 higher-paying, high-demand jobs at the company over the next three years. In 2020, the company offered five qualification certificates. Today there are 50. They cover topics such as front-line manager leadership, people and business leadership, data science, software development and project management. Employees can obtain the certificates in four months, according to Lo Stomski, Walmart’s senior vice president and vice president. talent director.Walmart highlighted its worker training efforts as it prepares to host two big events this week. A virtual general meeting of shareholders is planned for Wednesday. The company is hosting an employee celebration Friday at Bud Walton Arena in Fayetteville, Arkansas, to honor Walmart employees around the world as well as shareholders.
Walmart is offering new benefits to its U.S. hourly workers, ranging from a new bonus plan to opportunities to move into specialized jobs within the company.
The benefits package announced Wednesday comes as the nation’s largest private employer says it is seeing a decline in employee turnover. But Walmart, like other employers, faces a still-competitive job market and increasing demands from its employees.
Walmart’s new bonus plan for eligible part-time and full-time U.S. store employees – including those at its pharmacy and vision centers – is based on their store’s performance, with the maximum bonus potential being also related to years of experience.
For example, a full-time worker who has been with Walmart for a year and almost five years can earn a maximum bonus of $350 per year, while a full-time worker for 20 years can earn a maximum bonus of $1,000 , Walmart said. The plan will be available to 700,000 U.S. workers, the company said.
In January, Walmart announced that its U.S. store managers would receive up to $20,000 in Walmart stock grants each year.
The company, based in Bentonville, Arkansas, is also launching a training program for hourly workers in its U.S. stores and supply networks, which will give them the opportunity to advance to positions in facility maintenance , refrigeration, heating, ventilation and air conditioning, and automation. . Walmart said it plans to increase the number of such skilled workers from 450 to about 2,000 over the next two years.
The jobs pay between $19 and $45 an hour and workers will be paid during training, the company said. Walmart’s average hourly wage is around $18, an increase of 30% over the past five years. Walmart’s starting wages for U.S. workers range from $14 to $19 an hour.
The training program is expected to start with 100 workers in the Dallas-Fort Worth area. He is part of the Walmart Academy, one of the largest skills development programs in the country.
Last month, Walmart reported another quarter of strong results, as its low prices attracted shoppers looking for discounts amid stubbornly high inflation.
Households with incomes above $100,000 have been attracted to the retailer as it improves the quality of its items and strives to offer more convenient ways to shop. Two-thirds of Walmart’s shelf share gains come from this group, Walmart said.
Walmart said the skilled trades initiative is similar to a program announced two years ago that gave employees who work in its distribution and fulfillment centers the chance to become certified Walmart truck drivers through a 12-week program taught by the company’s established drivers.
At the time, the company announced it would raise wages for its 12,000 truck drivers. The starting range for new drivers is now between $95,000 and $110,000 per year. The retailer said $87,500 is the average new truck drivers can earn in their first year.
Walmart spokeswoman Anne Hatfield said the trucker program has trained more than 500 new drivers since it launched in spring 2022. This has helped the company address a shortage of truck drivers at the moment. sector scale.
Walmart offers similar training and development programs for pharmacy technicians and opticians.
Meanwhile, Walmart announced Wednesday that it will expand the number of skills certificates available to help frontline workers quickly access about 100,000 higher-paying, in-demand jobs at the company over the next three years.
In 2020, the company offered five skills certificates. There are now 50. They cover topics such as front-line manager leadership, people and business leadership, data science, software development and project management.
Employees can earn the certificates in four months, according to Lo Stomski, Walmart’s senior vice president and chief talent officer.
Walmart has highlighted its worker training efforts as it prepares to hold two big events this week. A virtual general meeting of shareholders is planned for Wednesday. The company is hosting an employee celebration Friday at Bud Walton Arena in Fayetteville, Arkansas, to honor Walmart employees around the world as well as shareholders.