Walmart said Wednesday The company will offer new training programs and certifications to fill high-demand positions across its business, including HVAC technicians, opticians and software engineers.
The big-box retailer said it will also offer hourly store employees annual bonuses of up to $1,000 as another reason to stay with the company.
As America’s largest private employer, Walmart continues to invest in its stores and employees to maintain its position as the nation’s top retailer. Amazon The retail giant is aiming to maintain its market share gains, especially in the grocery sector, amid a climate where inflation remains high.
Earlier this year, Walmart announced it would begin offering $20,000 in stock in April and that store managers would earn more than $400,000 a year, including bonuses. Walmart also began a $9 billion project to renovate and modernize more than 1,400 stores, more than a quarter of Walmart’s stores nationwide.
The company said average hourly wages are about $18, up about 30% over the past five years. Starting wages in its stores range from $14 to $19, depending on the location. Walmart is raising its minimum wage in January 2023.
But Walmart, which had total revenue of about $648 billion last year and a market capitalization of about $537 billion, still faces criticism over its wages. Its average employee earned $27,642 in total annual compensation in its most recent fiscal year, according to the company’s 2024 proxy report. For a family of four, that’s below the poverty line of $31,200, according to the U.S. Department of Health and Human Services.
Target’s average compensation is $26,696 and Amazon’s is $36,274, according to the companies’ most recent proxy reports. These calculations include part-time and full-time employees.
Walmart’s new program gives employees more ways to land higher-paying jobs. The company is piloting a six-month training program in the Dallas-Fort Worth area for 100 store and warehouse workers looking for skilled trades such as facilities maintenance and refrigeration and HVAC technicians. Those skilled jobs pay between $19 and $45 an hour, said Lo Stomski, the company’s chief people officer.
The initiative is inspired by a similar program for another high-demand occupation: truck drivers. The company said its associate-to-driver program has produced more than 500 new drivers since its launch in spring 2022.
Workers in the program don’t have to continue working for Walmart, but they will be needed as Walmart introduces more automation and robotics throughout its warehouses and online fulfillment centers, Stomski said.
Walmart also announced Wednesday that it has increased the number of skills certifications it offers to more than 50, up from five in 2020. Those certifications can help employees qualify for salaried or leadership positions in its stores, clubs and supply chain facilities. On average, employees earn a certification in four months, Stomski said.
The announcement this week coincides with two major events for Walmart: On Wednesday, it will hold its shareholders meeting virtually. On Friday, Walmart will hold its annual employee celebration at its Bentonville, Arkansas, headquarters, a combination pep rally and employee recognition program that will bring together thousands of employees from around the world and feature surprise celebrity appearances and musical performances.
