This retailer pays an hourly bonus of $ 2 to employees who work peak days during the holiday season
The next vacation will be here before we know it. Retailers are already busy getting ready, as many consumers tend to spend and buy more in the weeks and months leading up to the holiday season. A retailer has already announced that it will pay its employees extra during peak work days this holiday season.
During the pandemic, many companies increased their starting wages or offered more incentives to attract good and loyal workers. In 2020, Target set their minimum hourly wage at $ 15 for members of the U.S. team. We recently discussed how Target plans to cover the tuition and continuing education costs of its workers. But that’s not all Target does to thank their employees for their efforts.
The company recently announced that it plans to pay its employees an additional $ 2 per hour for peak work days during the upcoming holiday season. This additional salary will be available for certain hourly employees in stores, service centers and the supply chain. Certain head office positions and seasonal team members will also be eligible.
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An hourly premium of $ 2 will be paid on certain dates
What dates are considered peak days? The $ 2 hourly bonus will be available to store, selected head office and service center team members who work Saturdays and Sundays from November 20 to December 19, as well as Christmas Eve and the day after. Xmas. And the bonus is available to hourly supply chain team members for a two-week period (which varies by building) from October 10 to December 18.
For Target workers who can work on peak days this holiday season, the bonus provides an additional financial incentive to take extra shifts or be scheduled on busiest days. We recommend that you open a separate savings account to store bonus money and increase savings. This way, the extra savings will be separated from the regular pocket money, and there will be less temptation to spend it.
Workers now have more options for better paying jobs
Many states in the United States pay the federal minimum wage, which is only $ 7.25 an hour. It’s a low wage to be earned if you try to comfortably pay all of your living expenses, even as a full-time worker. Since some companies are now offering $ 15 or more an hour, many workers have left their old, low-paying jobs to seek better-paying work opportunities. If you used to earn $ 7.25 an hour before and can get a job that pays $ 15 an hour, it’s easy to see why changing jobs would be a smart money decision to make.
If you are currently unhappy with the salary you earn, it may be a good idea to explore a higher paying opportunity. Earning a higher salary can help you meet your financial goals, including debt repayment, savings, and investment goals.
It may even be a good idea to move to a state with a higher minimum wage, as some states in the United States pay $ 10 or more per hour. Another option is to consider moving to a state or city where the cost of living is lower. Living expenses vary widely across the country. If you’re ready to relocate and need some inspiration, these are America’s best and cheapest cities.
Whether you are happy in your current role or looking for other higher paying work opportunities, it is essential to stay in control of your personal financial situation. If you need help, check out these helpful personal finance resources.