Walmart said on wednesday It will offer new training programs and certifications for high-demand positions within its business, such as HVAC technicians, opticians and software engineers.
The big-box retailer said it would also give hourly workers another reason to stay: bonuses of up to $1,000 a year.
Walmart is the largest private employer in the United States and has been investing in its stores and employees in an effort to retain its title as the nation’s top retailer. Amazon Followed by. The retail giant aims to maintain market share growth during a period of high inflation, especially in the grocery sector.
Earlier this year, the company announced store managers Annual salary can exceed $400,000, including bonuses, as it offers stock grants of $20,000 starting in April. Walmart also launched a $9 billion project to upgrade and modernize more than 1,400 of its stores, accounting for more than a quarter of the country’s total.
The company said its average hourly wage is nearly $18, which has grown about 30% over the past five years. Starting wages at the store range from $14 to $19, depending on location. Walmart raised its minimum wage in January 2023.
Yet Walmart, which had total revenue of about $648 billion last year and a market capitalization of nearly $537 billion, still faces criticism over its pay. The company’s median employee’s total annual compensation was $27,642 in its most recent fiscal year, according to the company’s 2024 agency report. For a family of four, that number goes down $31,200 below poverty lineaccording to the U.S. Department of Health and Human Services.
By comparison, Target and Amazon had median pay of $26,696 and $36,274, respectively, according to the companies’ most recent agency reports. These calculations include both part-time and full-time workers.
Walmart’s new program gives employees more pathways into high-paying jobs. The company is piloting a six-month training program in the Dallas-Fort Worth area for like 100 store and warehouse employees who want to work in skilled trades such as facilities maintenance, refrigeration and HVAC technicians. Lo Stomski, the company’s chief talent officer, said hourly wages for these skilled trade jobs range from $19 to $45.
The program was inspired by a similar program for another high-demand position: truck drivers. According to the company, the assistant driver program has trained more than 500 new drivers since its launch in spring 2022.
Workers in these 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 will also increase the number of skills certificates it offers to more than 50, up from five in 2020. Employees receive their certificates in an average of four months, Stomski said.
This week’s announcement coincides with two major events for Walmart. Its shareholder meeting will be held virtually on Wednesday. On Friday, Walmart will host its annual employee celebration in its hometown of Bentonville, Arkansas, a combination pep rally and employee rewards program that attracts thousands of employees from around the world and features a surprising number of employees. Celebrity appearances and musical performances.
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