Just recently, hardware giant corporation, The Home Depot, announced that the company has decided to invest in its people by investing another 1 billion dollars in wage increases for their hourly associates.
In fact, the raises have already began for those that are tenured frontline hourly associates. Moreover, they will benefit any employee that was hired for a new job at the hardware store, raising the starting wages in all U.S. stores, or for those earning above $15 per hour.
This new wage ruling was put into effect on February 6, which means a number of employees already saw a difference in the February 17 paychecks. This means that all other remaining associates saw an increase in their paychecks after that.
President and CEO of The Home Depot, Ted Decker, said in an email to the company’s employees said, “We’ve been continuously focused on cultivating the best associate experience in retail, with ongoing investment in associate wages, benefits, bonuses, job tools, and career development opportunities. We’ve also enhanced training and career development opportunities for our associates.”
“Excellent customer service is one of our core values—and we view our investment in the knowledgeable and experienced associates who provide that excellent customer service as critical to our success,” he added.
This decision to provide raises comes after the company did something similar towards the end of 2020, which was the first year of the pandemic, which is when the U.S. chain hardware store invested $1 billion in their employees as well.
For The Home Depot, the reason behind their ‘better wages’ movement is to retain “the best talent” available on the market.
As for the co-founder of the 94-year-old company, Bernie Marcus, he pledged back in 2019 that he was going to give around 80 to 90 percent of his wealth – which is around $5.68 billion to charity before he dies.
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