US-based retail organisation Target is to increase its minimum hourly wage from $11 (£7.94) to $12 (£8.66).
The pay rise is due to be awarded to existing staff members from spring 2018 as part of the organisation’s wider multi-year strategy. The strategy also includes store expansions and new service features.
In October 2017, when the organisation last increased its minimum hourly rates of pay, Target committed to increasing its minimum hourly wage to $15 (£10.83) an hour by 2020. This is significantly higher than the US’ state-level federal minimum wage of $7.25 (£5.23) an hour.
Brian Cornell, chairman and chief executive officer at Target, said: “Target has been on a multi-year journey to modernise every dimension of our enterprise, and in 2018, [we] will accelerate our pace.
“[We will] continue to invest in our team as our greatest differentiator, and introduce and scale new experiences, services and brands, all in service to our guests.”
