Starting wages will range from $15–$24 per hour.
On Monday, Target announced some big changes are coming in 2022. Target will be increasing the starting wage range, as well as expanding access to health care benefits for its team members and their families.
The new starting pay wage ranges from $15–$24 per hour.
"Our team is at the heart of our strategy and success, and their energy and resilience keep us at the forefront of meeting the changing needs of our guests year after year. We continuously listen to our team members to understand what’s most important to them, then use the feedback to make investments that meet their needs across different career and life stages," said Melissa Kremer, chief human resources officer for Target.
With all of these new benefits and wage increases, Target is investing up to $300 million more in its team.
"We want all team members to be better off for working at Target, and years of investments in our culture of care, meaningful pay, expanded health care benefits and opportunities for growth have been essential to helping our team members build rewarding careers," add Kremer.
Health care benefits will be expanded starting in April. Here's how (taken directly from Target):
- Expanded access: About 20% of Target’s team will now be newly eligible for comprehensive health care benefits. Hourly store team members who work a minimum average of 25 hours a week will be eligible to enroll in a Target medical plan, down from the previous requirement of 30 hours per week.
- Reduced enrollment waiting periods: Target also will reduce the waiting period for all eligible hourly team members to enroll in a Target medical plan. Depending on position, eligible team members can access comprehensive health care benefits three to nine months sooner.
- Enhanced benefits: Target will provide additional benefits, including virtual physical therapy at no cost, enhanced fertility benefits, and other new wellness offerings, as part of most Target medical plans. Team members also will gain faster access to 401(k) plans.
What do you think of Target's new minimum wage increase? How about its health care benefits? Sound off in the comments below.