Amidst the deadly COVID-19 crisis, retailers across the globe are facing the heat and cutting costs; however, there are some who are taking good encouraging steps.
Having 1,900 stores, US-based Target Ltd. has decided to extend the pay and benefits of its various US team members. Applicable from 5 July, it will permanently raise its starting wage to US $ 15 per hour. Now that’s 25 per cent higher than the US industry average.
And that’s not the only good news!
A one-time recognition bonus of US $ 200 will be given to its frontline store and distribution centre hourly workers for their efforts during the pandemic.
The retailer is investing around US $ 1 billion more on team than it did in 2019, and additionally will introduce free virtual healthcare visits for all and extend benefits established for the pandemic.
Apart from all these, the employees, especially team members who are vulnerable, will get additional extensions of a 30-day paid leave, besides being provided free backup care for family members.
“In the best of times, our team brings incredible energy and empathy to our work, and in harder times they bring those qualities plus extraordinary resilience and agility to keep Target on the forefront of meeting the changing needs of our guests and our business year after year,” said Brian Cornell, Chairman and CEO of Target Corporation.
The company has also made few announcements for its staff.