Walmart, the largest private employer in the United States, announced on Wednesday its plans to offer new training programs and certifications for high-demand roles within the company. These roles include HVAC technicians, opticians, and software engineers. In addition to these opportunities for career growth, Walmart will also provide a bonus of up to $1,000 per year for hourly store workers.
This move by Walmart comes as the company faces increasing competition from Amazon and strives to maintain its position as the nation’s top retailer. With inflation on the rise, Walmart aims to retain its market share gains, particularly in the grocery department.
Earlier this year, Walmart introduced a program that allows store managers to earn more than $400,000 per year, including bonuses. The company also initiated a $9 billion project to upgrade and modernize over a quarter of its stores across the country. These investments demonstrate Walmart’s commitment to its workforce and its determination to stay ahead in the retail industry.
Walmart has made significant progress in improving wages for its employees. The company’s average hourly wage is nearly $18, which is a 30% increase over the past five years. The starting pay in stores ranges from $14 to $19, depending on the location. Walmart also raised its minimum wage in January 2023.
However, despite these wage increases, Walmart still faces criticism for its compensation. The company’s total annual compensation for the median employee was $27,642 in the most recent fiscal year. This falls below the poverty line for a family of four, according to the U.S. Department of Health and Human Services.
Comparatively, Target’s median compensation was $26,696, while Amazon’s was $36,274. These figures include both part-time and full-time workers. Walmart acknowledges that there is room for improvement and recognizes the need to address this issue.
To provide more opportunities for higher-paying jobs, Walmart has introduced new training programs. In the Dallas-Fort Worth area, the company is piloting a six-month training program for store and warehouse associates who are interested in skilled trades such as facilities maintenance, refrigeration, and HVAC. These skilled trade jobs pay between $19 and $45 per hour.
This initiative was inspired by a successful program for truck drivers that Walmart launched in 2022. The associate-to-driver program has produced over 500 new drivers to date. Walmart plans to continue investing in training programs as it expands its use of automation and robotics in its warehouses and online fulfillment centers.
In addition to the training programs, Walmart has increased the number of skills certificates it offers to more than 50. These certificates can help employees move into salaried or leadership positions within the company. On average, employees can obtain these certifications within four months.
Walmart’s recent announcement about its training programs and certifications coincides with its shareholder meeting and annual associates celebration. The shareholder meeting will be held virtually, while the associates celebration, held in Bentonville, Arkansas, is a combination of a pep rally and an employee awards program.
In conclusion, Walmart’s commitment to its employees and their career growth is evident through its investment in training programs and certifications. By offering opportunities for higher-paying jobs and providing bonuses, Walmart aims to retain its top position in the retail industry. However, the company recognizes the need to address concerns about wages and continues to work towards improving compensation for its workforce.
