Target is investing $300 million in a range of employee-related initiatives. In recognition of the significant contributions its frontline team members are playing during this time, Target said it is raising their pay by $2 an hour until at least May 2.
Details of Target’s team member investments include the $2-an-hour wage increase, whereby store and distribution center hourly full-time and part-time team members will earn $240-$480 more, on average, during this timeframe. After working with its current team to offer extra hours, the retailer will pursue additional hiring where needed.
In addition, effective immediately, Target is offering a new option for all team members who are 65 or older, pregnant or those with underlying medical conditions to access paid leave. Target’s latest investments include bonuses it is paying out to frontline team members, including, for the first time, bonuses for 20,000 hourly store team leads who manage individual departments in its stores across the country.
“We continue to experience incredible demand across our business, and Target’s ability to help our guests in this unprecedented time would not be possible without the strength of our team. I am proud and humbled by the dedication and humanity they show to our guests every day,” said Brian Cornell, CEO of Target. “Increasing their compensation for a job incredibly well done and ensuring continued compensation for those who need to care for themselves and their families is a reflection of our company’s values and simply the right thing to do.”
In addition, $1 million will be donated to the Target Team Member Giving Fund to assist team members who are most impacted by coronavirus. Target will match up to an additional $1 million in contributions from fellow team members who seek to assist their colleagues in need.
In addition to the donation to the Target Team Member Giving Fund, Target and the Target Foundation have committed another $9 million to expand relief and assistance to local and national organizations helping respond to the coronavirus.