Walmart will end quarterly bonuses, as it raises hourly wages for store employees and other workers. A company spokeswoman confirmed Thursday that the big-box retailer is eliminating the additional pay on Jan. 31, 2022, and rolling it into its workers’ base pay. The bonuses — dispersed four times per year — have been paid out for decades.
How much will Walmart Raise Your Pay?
Walmart is raising hourly wages for about 565,000 workers in the latest example of a large employer trying to attract and retain employees in a challenging labor environment. The pay raise, which will total at least $1 an hour and will take effect Sept. 25, will apply to workers in departments such as food and general merchandise.
This of course begs the inquiry “How much will Walmart’s pay increase be?”
It said that would amount to at least a dollar increase in hourly wages for more than 565,000 store workers. Average hourly wage is now $16.40, according to John Furner, CEO of Walmart U. S. Hatfield said the phase-out of quarterly bonuses accounts for just a small portion of the compensation increase.
Will you get a bigger pay raise in 2022?
Please check back later. If you have a job, you’re probably getting a bigger raise next year . Base pay may increase by an average of 3.9% in 2022, the largest one-year projected hike since 2008, according to The Conference Board’s latest wage survey of 240 companies, the majority of which each employ more than 10,000 people.
If you have a job, you’re probably getting a bigger raise next year. Base pay may increase by an average of 3.9% in 2022, the largest one-year projected hike since 2008, according to The Conference Board’s latest wage survey of 240 companies, the majority of which each employ more than 10,000 people. What will your raise look like in 2022?
What will your base pay increase look like in 2022?
Base pay may increase by an average of 3.9% in 2022, the largest one-year projected hike since 2008, according to The Conference Board’s latest wage survey of 240 companies, the majority of which each employ more than 10,000 people. What will your raise look like in 2022? There’s good news and bad news .
In fact, employers’ thinking on wage growth has changed quickly over the past year. In April, when the labor shortage wasn’t as pronounced and high inflation was not yet seen as persistent, they were asked the same questions about their projected 2022 wage cost increases . Back then they estimated those costs would go up just 3%.