Walmart Wednesday said It will offer new training programs and certifications to fill high-demand roles across its business, such as HVAC technicians, opticians and software engineers.
The big-box retailer said it will also offer another reason for the store's hourly workers to stay: a bonus of up to $1,000 per year.
Walmart, the country's largest private employer, has been investing in its stores and workforce as it tries to retain the title of the country's top retailer, with Amazon stepping on his heels. The retail giant aims to preserve market share gains, especially in the grocery department, during a period of high inflation.
Earlier this year, the company announced that store managers could earn more than $400,000 a year, including bonuses, as it began offering $20,000 in stock grants in April. Walmart also began a $9 billion project to upgrade and modernize more than 1,400 of its stores, representing more than a quarter of the total Walmart stores nationwide.
The company said its average hourly wage is nearly $18, an increase of about 30% over the past five years. Down payment in stores ranges from $14 to $19, depending on location. Walmart increased its minimum wage in January 2023.
However, Walmart, which reported about $648 billion in total revenue last year and has a market value of nearly $537 billion, still faces criticism over its pay. The company's total annual compensation for the average employee was $27,642 in the most recent fiscal year, according to the company's 2024 proxy report. For a family of four, that's below the poverty line of $31,200, according to the U.S. Department of Health and Human Services.
That compares with median compensation of $26,696 at Target and $36,274 at Amazon, according to those companies' most recent proxy filings. Those calculations include part-time and full-time workers.
Walmart's new programs give employees more ways to access higher-paying jobs. The company is piloting a six-month training program in the Dallas-Fort Worth area with 100 store and warehouse associates who want to work in skilled trades, such as technical roles for facility maintenance, refrigeration and HVAC. Those specialized jobs pay between $19 and $45 an hour, said Lo Stomski, the company's chief talent officer.
The initiative was inspired by a similar program for another high-demand position: truck drivers. The associate-to-driver program has generated more than 500 new drivers since launching in spring 2022, according to the company.
Workers who participate in the programs are not required to continue working for Walmart, but Stomski said they will be needed as Walmart adds automation and robotics to its warehouses and online fulfillment centers.
Walmart said Wednesday it also increased the number of skills certificates it offers to more than 50, up from five in 2020. The certifications can help employees advance to salaried or leadership positions at the chain's stores, clubs and facilities. of supply. On average, employees receive certificates in four months, Stomski said.
This week's announcement coincides with two of Walmart's major events. Its shareholder meeting will be held virtually on Wednesday. On Friday, in its hometown of Bentonville, Arkansas, Walmart will host its annual associate celebration, a combination pep rally and employee awards program that draws thousands of workers from around the world and features surprise celebrity appearances. and musical performances.
