Walmart which was previously known as Wal-Mart Stores Inc. is famous as an American multinational corporation (retail) that mainly operates a chain of hypermarkets, grocery stores and discount department stores. The company was originally founded by James and Sam Walton in the year 1962.
They are considered as one of the world’s largest company asper revenue. They are also considered as the largest private employer in the world and have over two million employees in total.
Walmart Introduced A Progressive Wage Model
Walmart claimed that their pharmacy technicians had proven time and time again how much they mean to the communities that they serve. They were on the forefront and center during the Covid-19 pandemic. They worked a lot in administering Covid 19 vaccines to the people located across the country.
So, Walmart took a decision of making significant investments in career progression and higher wages for their pharmacy technicians. They made this decision with the goal of creating additional pathways of oppurtunity and growth for these workers.
Progressive Measures Taken By Them
Here are a few measures that Walmart took to provide their workers with more benefits:
- Frequent Raises
Walmart decided that the pharmacy technicians are to get more frequent and automatic pay raises under their new progressive wage model which is set in a way to set them apart from the competition. For example, the new pharmacy technicians are to get raises that can add up to four dollars to their starting basic pay over the span of 4 years. The pharmacy technicians will get their raises for every six months within the first 2 years with the company.
They believe that they are the first one among all the largest retailers to incorporate this model – which is effectively prevalent in healthcare systems only. This will aid the associates in increasing their pay more efficiently as they build their careers and continue working at the Walmart.
- Pharmacy Tech Certification For Free
The investments that they are making work alongwith their long-standing commitment to pay for eligible associates in becoming certified pharmacy tech walgreens pay technicians through the benefits that they provide like Live Better U and related programs. The certified Walmart technicians can make three dollars more hourly than their peers who are non-certified. This means that earning a certification can make a noticeable difference for the associates and their families.
To remove any additional roadblocks, Walmart also covers the cost for getting certified to become a pharmacy technician. They provide costs that cover on-the-job training, free career diplomas and even pay the certification fee.
Tip: The Pharmacy Tech Walgreens pay is an average wage of $16.97 hourly.
- Raises Meant for Their Current Associates
They have also introduced a policy where they are hiking up the pay of 36,000 pharmacy technicians of Walmart and Sam’s Club Pharmacy technicians. They are increasing their hourly wage to more than twenty dollars per hour.
This was their secodn time they made some significant changes to the wage investments for their group of associates over the past year. They are trying to spread the message everywhere that they are very serious about attracting only the top talent and also giving them the tools that they need in order to build a successful career.
Here are a few frequently asked questions regarding Walmart:
- What is the minimum wage in Walmart?
A: The minimum wage for the employees are 14$ per hour. Later they raised it to $19 per hour.
- Why did Walmart increase their minimum wage?
A: Walmart claimed that they increased the minimum wage of the employees in order to attract more employees in the present tight domestic form of labor market.
- Why did Walmart expand?
A: Walmart purchased companies that had already seized a sizable portion of the local market. The majority of which were loss-making. With the aid of this tactic, Walmart was able to lower the entrance barriers and make the most out of their current assets including customers,suppliers,local capitalization and brand recognition.
- What makes Walmart so successful?
A: Using their own supply chain to streamline fulfilment and save costs is a key factor in Walmart’s success. Also, it gives them additional authority over their logistical network.
To Wrap It Up!
That was all for Walmart and its new policy and guidelines regarding hike in wages of employees during the pandemic. Thank you for reading up till here. I hope you found the information useful. Let me know in the comments your thoughts on the same.