US supermarket chain Walmart is to increase the salaries of its store managers and invest in a redesigned bonus programme from next month.
As a result of its investment and upcoming annual increases, store managers’ average salary will rise from $117,000 (£92,283) to $128,000 (£100,960) a year. This is alongside the investment it made last year in front-line hourly associates, with its average hourly wage soon to exceed $18 (£14.20).
The retailer has also redesigned its store manager bonus programme, with the store’s profit set to be a bigger part of calculating an annual bonus. If managers hit all of their targets, their bonus could be up to 200% of their base salary.
Walmart stated in a note sent out to staff that senior leadership sees an investment in its workforce as an investment in its culture, its core values and in the day-to-day experience of every associate in every store.
Cedric Clark, executive vice president, store operations, Walmart US, said: “Most of you, approximately 75% of our field management teams, began your Walmart careers in the hourly ranks. I know firsthand that the possibilities are endless when working at Walmart. And the possibilities are endless for you and for everyone you lead every day. Making Walmart the best place to shop means we need to make it the best place to work. We are on a journey of investing in our associates, offering benefits that support associates’ health and wellbeing in all aspects of life.
“This investment is about belief. We believe you’re the keepers of our culture today while you’re also helping to identify and grow the future leaders of our business. You’re the reason our associates can build something special working at Walmart, just like many of us have. Investing in you is an investment in our future. You make the difference, and we could not be more excited to continue this journey with you.”