Target increases starting wage, expands healthcare benefits for employees
Target is looking to invest up to $300 million in its employees in several ways.
The retailer recently shared plans to implement a new starting wage range for its employees, as well as expand access to healthcare benefits.
A new starting wage range from $15 to $24 per hour to position is being applied, which is set to position Target as a wage leader in the market in which it operates, the company said.
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In addition, hourly team members will be given a shorter waiting period to enroll in comprehensive benefits, and store members will be eligible for benefits by working a minimum wage of 25 hours per week — down from the previous requirement of 30 hours per week.
“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 at Target said. “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.”
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Other investments the retailer is making in its employees include faster access to a 401K plan, free virtual physical therapy, enhanced fertility benefits and doula reimbursement, and acupuncture coverage, the company said.
The hike in the minimum starting wage and expanded health care access expands upon the retailer’s previous investment in its employees, which has included a debt-free education assistance program; such family-focused investments as adoption and surrogacy reimbursement; more stable schedules and ongoing COVID-19 benefits.
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“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,” Kremer said.