The bonuses, which will vary depending on the job type and location, come at a time when the retail industry is facing a tight labor market. Retailers across the industry have focused on incentives and bonuses as competition for workers remains high. As Walmart ramps up for the holiday season, the extra bonuses may help the retailer retain and attract talent.
The bonuses will be $200 for some full-time workers, though the amount could be higher for those who work overtime, according to Chain Store Age. The bonuses already began this month and are expected to continue through the fiscal year at most of Walmart’s distribution and fulfillment centers.
Walmart is not the only retailer adding benefits or bonuses to keep workers. Target has issued at least five rounds of bonuses to its workers and recently announced a new education benefit to offer debt-free college. Target also raised its minimum wage to $15 per hour during the pandemic. Target’s new benefits follow Walmart, which announced it would cover 100% of tuition and textbook costs for its associates just weeks earlier.
The increases in benefits also coincide with a new record number of open jobs. According to the Department of Labor, a record 10 million job openings were reported in June, up from 9.2 million in May.