"With the Federal minimum wage unchanged since 2009 at $7.25 an hour, many retailers are doubling or tripling it to attract and retain staff. And Walmart, the largest private employer in the US (and the world), recently shook up the way it pays frontline hourly workers. Instead of simply offering pay increases based solely on years of service with the company, the retail giant is evaluating worker and store performance as well to nudge raises up or down by as much as one percentage point."
"Still, hourly wages are one part of the pay equation. An individual's total earnings also depend greatly on the number of hours they work in a given period, which can vary considerably, especially in more seasonal businesses. Many of the employers in this list said their median employee was a part time worker who averaged 20 hours or less a week. It's also very common in retail for workers to hold multiple jobs."
More than 15 million people work in the retail trade sector, nearly one-tenth of the US workforce, and nearly two-thirds of Americans have worked in retail at some point. The Federal minimum wage has remained $7.25 since 2009, prompting many retailers to raise hourly pay, in some cases doubling or tripling wages to attract and retain staff. Major employers like Walmart now tie raises to worker and store performance as well as tenure. Hourly wages interact with hours worked: many median employees are part-time, averaging 20 hours or less per week, which often lowers annual earnings compared with full-time roles. Median wage figures were drawn from recent proxy filings of publicly traded retailers with market capitalizations above $10 billion.
Read at Business Insider
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