Target Corp. is reinvesting in its people.
The big-box retailer revealed Thursday that it is pumping another $75 million into its workforce, the firm’s sixth round of employee bonuses since the pandemic began.
“Our team members continue to deliver each and every day for our guests and one another,” Melissa Kremer, Target’s chief human resources officer, said in a statement. “Our culture, strategy and success would not be possible without our incredible team at the center of it all.”
This time, all 340,000 full- and part-time U.S.-based frontline workers — including store associates, distribution center workers and hourly staff members who work in headquarters and support guest and team member contact centers — will receive a $200 bonus this August.
The bonuses mark the retailer’s sixth time awarding employee bonuses since the pandemic began, starting with bonuses between $200 and $1,500 to in-store team leads in April 2020, followed by $200 bonuses to all in-store and distribution center associates three months later. Store directors, executive team leaders and salaried distribution center leaders were also awarded performance bonuses in July 2020. Then in November frontline team members received an additional $200 in bonuses, equaling more than $1 billion more in investments in 2020, compared with 2019.
The latest round of bonuses came in January, when the company said it would reward its employees with approximately $200 million in extra payments. That broke down to about $500 for hourly workers in stores, distribution centers, the company’s Minneapolis-based headquarters and field-based offices. In addition, about 12,000 store directors, executive team leaders and salaried distribution center leaders received a bonus, ranging between $1,000 and $2,000.
“Our teams have stepped up, again and again, despite the challenges, to serve our guests and to serve America,” Brian Cornell, chairman and chief executive officer of Target, said in a video posted to the company’s Twitter feed at the time. “And for that, I can only say thank you.”
In addition, Target raised the minimum wage to $15 an hour for all employees last summer.