COVID-19 pandemic has brought about a worldwide lockdown with only a few sectors for buying necessities to remain open. In this time, Target Corporation, an American retail corporation, has decided to invest 300$ million in a range of employee-related initiatives. Target has been said to raise their pay by $2 an hour until 2nd May 2020. This investment is being done in recognition of the significant contributions of its frontline team members who are working day and night during the coronavirus outbreak.
The details of the investment include the $2 hour increase in daily wage which means that the members will earn an average of $240-$480 during this time period. In addition to this, Target will also pursue additional hiring wherever required in order to provide adequate rest to their teams.
Target is also offering paid leave to the members who are 65 or older, pregnant or have an underlying medical condition, effective immediately. The latest investment by the retailer includes bonuses to the frontline teams inclusive of 20,000 hourly store team leads who manage departments across the country.
“We continue to experience incredible demand across our business, and Target’s ability to help our guests in this unprecedented time would not be possible without the strength of our team. I am proud and humbled by the dedication and humanity they show to our guests every day,” said Brian Cornell, CEO of Target. He adds that increasing the compensation of the team member for a job that they are putting so much effort into must be rewarded.
In addition to the donation made by the American retail company to the Target Team Member Giving Fund, Target and the Target Foundation have committed yet another $9 million to provide aid and assistance to the organizations on both local and national level, in order to help them respond to coronavirus effectively.