How will Walmart reward workers with 20 years or more with the company?
Walmart will be rewarding its employees through a new bonus scheme. Workers who have been with the company for at least 20 years will benefit the most.
In order to motivate workers and to battle employee turnover, Walmart offers various benefits, including bonuses.
While the largest retail company in the country had already offered bonuses to its employees who are paid by the hour during the pandemic, last Wednesday, the company announced it will be offering its hourly employees bonuses of up to $1,000 per month.
This measure is expected to benefit 700,000 employees in the country. Walmart has 4,600 physical stores in the U.S., in addition to about 600 Sam’s Club branches.
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How will Walmart reward workers with 20 years or more with the company?
According to a statement issued on the company’s website, bonuses are available for full- and part-time workers. The exact amount will depend on the employee’s performance and seniority in the company, meaning the number of years they have worked for the retailer. Those who have been working with the company for a longer period of time will get bigger amounts.
“This new associate bonus rewards excellent work and customer service and celebrates long-term associates who build a career at Walmart,” according to the statement. The memo also quoted the company’s founder, Sam Walton, saying, “There is no limit to what ordinary people can achieve if given the opportunity and encouragement to do the best they can.”
The maximum bonus of $1,000 per year will be available to full-time workers who have been working for approximately 20 years in the company, while those who have worked between one and five years could receive a bonus of $350 per year.
How much does a Walmart employee earn?
An average new employee earns between $14 and $19 per hour, according to official data shared by the company. This places the retail company’s salaries way above the national minimum wage, which is $7.25 per hour.