Target says it will raise its minimum wage as high as $24 per hour this year, depending on the local market. Companies have been raising pay and benefits in an effort to keep and attract workers.
Monday that it would begin paying workers wages ranging from $15 to $24. The starting rate will depend on the job, the market and local wage data, among other factors.
The wage increase is a part of a $300 million investment in pay and benefits. The company also said it would expand employee access to health care. Hourly employees who work an average of at least 25 hours a week will become eligible for a Target medical plan. Initially, these benefits were only available to employees who work an average of at least 30 hours per week. With the new benchmark, about 20% of Target workers will become eligible.at no cost, along with more fertility benefits. Employees will also be able to access 401 plans earlier, the company said.
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