Home Depot raises starting wage to $15 per hour minimum

Home Depot
Credit: Jonathan Weiss / Shutterstock.com

US home improvement business Home Depot has invested $1 billion (£830.9 million) in wage increases for its frontline hourly employees, raising its starting salary in every US market to or above $15 (£12.47) per hour.

The pay changes came into effect earlier this month, with some employees receiving the higher rate in their 17 February paychecks, while remaining staff members will see the increase in their 24 February paychecks.

According to the firm, this will drive wage growth for all of its frontline hourly paid workers, including those just starting their careers, and also positions it as a favourable employer in every market it operates in.

Ted Decker, chair, president and chief executive officer of Home Depot, said: “Excellent customer service is one of our core values, and we view our investment in the knowledgeable and experienced associates who provide that excellent customer service as critical to our success. We’ve been continuously focused on cultivating the best associate experience in retail, with ongoing investment in associate wages, benefits, bonuses, job tools, and career development opportunities.

“Additionally, since 90% of our store leadership started as hourly associates, today’s new hires are our future leaders. This investment will help us attract and retain the best talent into our pipeline. Thank you to all our associates, especially our frontline associates, for all you do every day to take care of our customers and each other.”

Home Depot currently offers its staff elder care benefits, backup childcare, 24/7 virtual doctors, college planning, tuition reimbursement, a 401k retirement savings plan, discounts on gym memberships, electronics, and food shops, parental leave and adoption-related expenses reimbursement.