The Home Depot announced it will “invest in our associates.” Allocating an additional $1 billion in wage increases to frontline hourly associates, this investment makes the home improvement retailer’s starting wage in every U.S. market at or above $15 per hour.
The new wages, which went into effect in February, started with tenured frontline hourly associates followed by all remaining associates.
“We’ve been continuously focused on cultivating the best associate experience in retail, with ongoing investment in associate wages, benefits, bonuses, job tools, and career development opportunities,” Ted Decker, chair, president and CEO of The Home Depot, said.
Decker also said that the investment “positions us more favorably in every market where we operate.”
“Additionally, since 90 percent of our store leadership started as hourly associates, today’s new hires are our future leaders,” Decker said. “This investment will help us attract and retain the best talent into our pipeline.”
The Home Depot also enhanced its training and career development opportunities for its associates in which 65,000 associates were promoted into positions of increased responsibility in 2022, according to a press release.
“Excellent customer service is one of our core values, and we view our investment in the knowledgeable and experienced associates who provide that excellent customer service as critical to our success,” Decker said.