In a move to bolster employee morale and retention, retail giant Walmart has announced a new bonus program tailored for approximately 700,000 hourly workers across its stores in the United States. The company unveiled on Monday seeks to reward employees for their dedication and commitment to serving customers amidst ongoing challenges in the retail sector.
According to a statement from Walmart, the bonus program will be structured around several critical criteria, with attendance being a primary factor. Employees who maintain good attendance records will be eligible for bonuses, incentivizing punctuality and reliability in the workforce. Additionally, the program will consider other performance metrics, ensuring that employees who consistently demonstrate exceptional service and productivity are duly recognized and rewarded.
John Furner, President and CEO of Walmart U.S., highlighted the company’s commitment to investing in its workforce, stating,
Our associates are the heart of our business, and their hard work and dedication have been instrumental in driving our success.
Furner emphasized Walmart’s dedication to providing competitive compensation and benefits to its employees, underscoring the importance of recognizing their contributions to the company’s operations.
The bonus program comes as retailers across the country grapple with labor shortages and increasing competition for talent. By offering incentives such as bonuses based on performance, Walmart aims to retain its existing workforce and attract new talent, seeking opportunities for growth and advancement within the company.
We believe that by rewarding our associates for their hard work and dedication, we can further strengthen our team and continue to deliver the best possible service to our customers,
– Furner added.
The announcement of the bonus program follows Walmart’s recent efforts to enhance employee benefits and support initiatives. In February, the company announced plans to raise the starting wage for hourly associates to $15 per hour, a move aimed at providing a competitive compensation package and improving overall employee satisfaction.
Walmart’s bonus program will roll out in the coming weeks, with eligible employees expected to receive their first bonuses in July. The company remains committed to fostering a positive work environment and empowering its workforce to thrive in an ever-evolving retail landscape.
Source: Reuters June 6, 2024