Walmart offers new perks for workers, from a new bonus plan to opportunities in skilled trade jobs
NEW YORK (AP) — Walmart is offering new perks for its hourly U.S. workers, ranging from a new bonus plan to opportunities to move into skilled trade jobs within the company.
The perks program announced Wednesday, comes as the nation’s largest private employer says it’s seeing a decline in worker turnover. But Walmart, like other employers, faces a still-competitive labor market and increasing demands from its employees.
Walmart’s new bonus plan for eligible part-time and full-time U.S. store workers — including those in its pharmacy and Vision Centers — is based on the store’s performance, with the maximum bonus potential based on years of experience. For example, a full-time worker who’s been with Walmart between one year and almost five years can earn a maximum bonus of $350 per year, while a 20-year full-time worker can earn a maximum bonus of $1,000, Walmart said. The plan will be available to 700,000 U.S. workers, the company said.
The plan comes after Walmart in January announced its U.S. store managers would receive up to $20,000 in Walmart stock grants every year.
The company based in Bentonville, Arkansas, is also launching a training program for its U.S. hourly workers who work in its stores and supply networks that will give them an opportunity to move into roles in facilities maintenance, refrigeration, heating, ventilation and air conditioning, and automation. The jobs pay between $19 and $45 per hour and workers will be paid during the training, the company said.
Walmart’s average hourly wage is close to $18, an increase of 30% over the past five years. Walmart’s starting wages for U.S. workers range between $14 and $19 an hour.
The program, which is starting with 100 workers in the Dallas-Fort Worth area, is part of the Walmart Academy, one of the largest training systems in the country. Walmart said it is looking to increase these skilled trades workers from 450 to roughly 2,000 in the next two years.
Walmart said it’s similar to a program it announced two years ago that gives employees who work in its distribution and fulfillment centers a chance to become certified Walmart truck drivers through a 12-week program taught by the company’s established drivers. At the time, it said it was raising pay for its 12,000 truck drivers. The starting range for new drivers is now between $95,000 and $110,000 a year. The retailer said that $87,500 had been the average that new truck drivers could make in their first year.
Walmart spokeswoman Anne Hatfield said the trucker program has produced more than 500 new drivers since launching in the spring of 2022. That’s helped the company navigate an industrywide shortage of truck drivers.
The company has a similar training and development programs for pharmacy tech and opticians.
Meanwhile, Walmart said Wednesday that’s also expanding the number of skills certificates available to help fast-track front-line workers into about 100,000 jobs that are higher paying and in demand at the company over the next three years. In 2020, there were five skilled certificates. Now, there are 50.
Lo Stomski, Walmart’s senior vice president and chief talent officer, said the certificates can be done in a matter of four months.
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