Home Depot announced Tuesday its investing $1 billion in wage increases for its hourly associates, boosting its starting wage in every U.S. market to or above $15 per hour.
“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. We’ve also enhanced training and career development opportunities for our associates. In 2022 alone, more than 65,000 associates were promoted into positions of increased responsibility,” said Ted Decker, Chair, President and CEO.
The Atlanta based home improvement store hopes the investment will drive wage growth for all its tenured frontline workers and benefit those just starting their careers at Home Depot.
“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. Additionally, since 90 percent of our store leadership started as hourly associates, today’s new hires are our future leaders. This investment will help us attract and retain the best talent into our pipeline.”
The new wages went into effect on February 6, so some associates already saw the new rates reflected on their February 17 paychecks. All remaining associates will see the increase in their February 24 paychecks.