Apple Makes Major Moves to Combat Labor Shortage Some stores have not yet been informed of the changes, which will be implemented this month.

By Amanda Breen

Companies across the U.S. have had to come up with creative ways to navigate the tight labor market in recent months. From Home Depot's accelerated job-application process to United Airlines' pay bumps for pilots and flight attendants, incentivizing employment has become commonplace.

Tech companies have also been in the game from the start, with Google and Apple offering cash bonuses and extending work-from-home policies — and now, the iPhone maker is ramping up the perks yet again, Bloomberg reports.

Apple is increasing the pay of many of its U.S. retail employees as the labor shortage drags on, inflation persists, and some staff members have expressed dissatisfaction with working conditions during the pandemic. Per Bloomberg's sources with insider knowledge, the company announced the pay bumps this week during store briefings and one-on-one meetings with employees. At least some of the pay bumps are specific to those employees who joined the company before the pandemic began in 2020 — a bid to "better align veteran staff with more recent hires."

Related: CEO of Major Bank Receives $3 Million Salary Bump

Although the 2% to 10% increases will go to salespeople, Genius Bar technical support staff and select senior hourly workers, not all employees will receive a raise. Some stores have not yet been informed of the new policy, which will be implemented this month. Typically, Apple's standard annual raises go into effect in October to line up with the fiscal year's end.

Of course, this isn't Apple's first attempt to keep its employees happy in the face of pandemic-related challenges. In December, the company delayed its return-to-office date indefinitely and doled out $1000 cash bonuses to employees. Additionally, just last week, Bloomberg reported that the company will give part-time employees paid vacation time for the first time in April, along with more sick days and new child- and elder-care benefits.

Corporate employees have reaped even greater rewards, receiving as much as $180,000 in stock-based bonuses last year as the company tried to keep critical engineers from leaving for Meta and other major Silicon Valley players.

Related: Meta Plans Physical Stores to Showcase Its Virtual- and Augmented-Reality Devices

Apple stock was down 0.36% as of 10:10 a.m EST.

Wavy Line
Amanda Breen

Entrepreneur Staff

Features Writer

Amanda Breen is a features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
Lock
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
Lock
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
Lock
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

Uber Eats Deliveries Are Flooding a Los Angeles Neighborhood — Except No One Knows Who Placed the Orders

Residents of L.A.'s Highland Park neighborhood are once again the target of dozens of unsolicited Uber Eats orders. The "annoying and somewhat disturbing" mystery is gripping the city.

Growing a Business

The Human Side of Business Scaling — Why Employee Well-Being, Team Cohesion and Company Values Must Be Prioritized

Let's explore the potential pitfalls of neglecting employee well-being, team cohesion and company values as you scale — and a few strategies to prioritize each.

Business News

After Being Told They Could Work From Home Forever, Employees Made Major Life Changes. Then, a New CEO Ordered Them Back to the Office.

Farmers Group CEO Raul Vargas is facing backlash for the change, but he says being in the office brings more "collaboration" and "innovation."

Business News

'I've Got the Bug for Business': See All of Mark Wahlberg's Entrepreneurial Endeavors, From Marky Mark and the Funky Bunch to Wahlburgers

Mark Wahlberg owns businesses in several categories, including entertainment production, apparel, fitness, and nutrition.

Growing a Business

How to Grow Your Business With Social Media

Miriam Fried, owner of MF Strong, shares why a solid online presence, including social media and Yelp, is important for starting a business and achieving continued growth.

Business News

Gamestop Suddenly Fires CEO, New Chairman Posts Cryptic Tweet Hours Before Announcement

Shares of the electronics retailer plummeted up to 20% early Thursday.