Target (TGT) to Reward Employees With Extra Holiday Season Pay
Target (TGT) will reward its hourly and seasonal team members with an additional $2 for each hour worked during peak times through the holiday season.
Retail biggies are proactively readying up for the approaching festive season, one of the busiest times of the year. The companies are up and about hiring extra manpower as well as coming up with exciting deals and product launches to rake in higher customer traffic. Target Corporation TGT has also been putting its best foot forward for the holiday season. In latest developments, the company announced that it will reward its hourly and seasonal team members with an additional $2 for each hour worked during peak moments through the holiday season. The effort reflects on the company’s appreciation for its employees and recognizing their efforts. Let’s take a closer look at this move and other efforts undertaken by the company as it prepares for the holiday season.
Encouraging Employees With Rewards
Target continues to reward its hard-working employees through bonuses and other privileges. The company values the esteemed contribution of its workforce to achieve its set targets and goals. Upholding such values, the company decided to pay an extra $2 per hour to its employees who work during the peak hours of the holiday season. This is likely to encourage employees and provide them an extra boost to perform well this season.
The extra pay can be availed by the company’s hourly team members in stores, service centers and supply chain positions as well as select headquarter positions and seasonal team members, on specific dates. Hourly store, select headquarter and service center members can earn an additional $2 for each hour worked from Nov 20 to Dec 19 as well as Dec 24 and Dec 26. Hourly supply chain team members can earn the additional pay between Oct 10 to Dec18.
Efforts to Strengthen Workforce to Tackle Festive Rush
Target had previously unveiled plans to invest in its existing workforce this festive season, as it tries to get around the issue of industry-wide worker shortages. The company will offer its current workforce the opportunity to work additional hours if they are interested. It will provide five million more working hours to its existing store employees, which will result in an increase in pay by more than $75 million. Team members can avail scheduling preferences based on their own choices. To make scheduling more convenient, Target has come up with an easy-to-use mobile scheduling app. The company is also offering the option of back-up training for all team members.
Target will also hire 100,000 seasonal team members at stores across the country to support its current team. Suitable seasonal workers will have the opportunity to remain with Target even after the holiday season. The company’s hiring plans are comparatively lower in scale than previous years, as it invests in its current team for more flexible scheduling, training, pay and benefits. Management believes that by investing and caring for its workforce, it will be able to better manage attrition and enhance customer services.
Prudent Deals to Add Cheer This Season
Target will kick-off holiday deals earlier this year, featuring thousands of items across every category. The company’s “Deal Days” shopping event will offer steep discounts across the entire range of merchandise, including TVs, Beats headphones, fleece, video games, vacuums, kitchen appliances, food and beverage offerings, and more. Interested customers can access all these amazing deals from Oct 10 to Oct 12.
During this time, bargain hunters will find the best deals and values not only on Target’s app or website but also at more than 1,900 outlets across the country. To attract customers, the company is offering “Holiday Price Match Guarantee” starting Oct 10. The program, which will run through Dec 24, is designed to give shoppers a sense of confidence that they are getting the best deals, regardless of when they shop.
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We expect Target to benefit from its well-chalked plans this holiday season. The company, which is acclaimed as a one-stop shopping destination, is likely to be able to serve customers efficiently on the back of its sturdy omni-channel services, multi-category assortments from leading brands as well as prudent supply chain operations steered by an efficient workforce.
Shares of this Zacks Rank #3 (Hold) company have gained 11.3% in the past six months compared with the industry’s rise of 6.8%.
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