Sam’s Club is boosting the pay for around 100,000 frontline workers and has created a road map for their associates “to plan and pursue more predictable, longer-term financial futures”, according to the New York Post.
Sam’s Club, which is owned by Walmart, said that turnover in 2022 averaged 60% within the retail sector and that under their new plan “hourly wages will progress faster in their pay range, expanding the increase to between 3% and 6% based on years of service.”
Sam’s Club associates’ average hourly rate is expected to be above $19 an hour, and the company has officially announced that they will be also offering their associated the “potential to earn thousands of dollars annually in bonuses.”
Sam’s Club’s average hourly wage has increased nearly 30% over the course of the last five years.
“Our new approach is one step in a series of investments we’ve made in our people over the last several years, all designed to provide more meaningful jobs and build successful teams,” Sam’s Club CEO Chris Nicholas said in an official statement.