Walmart Starts Bonus Program For Hourly Workers

Walmart, America’s largest private-sector employer, is starting a bonus program for its hourly employees, Chris Isidore reported for CNN.

Walmart has 1.6 million US employees, nearly 1.5 million of whom are hourly workers. I Photo: Walmart Facebook

The company has announced that the program will reward employees who stay with the company long-term, with workers able to earn up to a maximum of $1,000 for those who have been with the company for 20 years or more.

Any hourly store employee who has been with the company for a year or more is eligible for the bonus program, with full-time employees who have been with the company for at least a year but less than five years receiving an annual bonus of $350.

The bonus amount increases with seniority. The company has 1.6 million US employees, nearly 1.5 million of whom are hourly workers.

Walmart has a significant impact on the labor market for hourly workers and has been grappling with finding and retaining the workers it needs in a tight labor market. It said it has raised hourly wages by around 30% over the last five years, and its average US hourly wage is now close to $18.

Starting pay ranges from $14 to $19 depending on the store and local market. A $1,000 bonus comes to just under 50 cents an hour for employees working a 40-hour week and is equal to about 3% of annual pay for those full-time workers making that average hourly pay, Nathaniel Meyersohn also reported for CNN.