Macy’s has announced that it will raise its company-wide minimum wage rate to 15 dollars an hour.
Among other benefits, the retailer will also invest in its people through a debt-free education program and flexibility in regards to paid holidays.
Beginning in February 2022, Macy’s will invest 35 million in its debt-free education program, covering 100 percent of tuition, books and fees for courses for high school completion, college prep, English language learning, associate and bachelor’s degrees, bootcamps and professional certificates within its debt-free network.
To help implement the program, Macy’s has partnered with education and upskilling platform, Guild Education. The program is available for all U.S based regular, salaried and hourly employees.
“As we continue our transformation to be a digitally led omnichannel retailer, a critical component of our growth includes investing in our talent and enhancing all aspects of their Macy’s, Inc. experience with a strong focus on advancement opportunities, culture and engagement,” said chief transformation officer and human resources officer at Macy’s, Danielle Kirgan. “This program removes a major barrier to accessing education and will help our colleagues to further develop their skills and grow their careers and earning potential.”
The minimum wage will be raised across all locations for both new and current colleagues. Macy’s has already implemented the wage minimum across several markets, and plans on achieving this target fully by May 2022. The average base pay will be above 17 dollars per hour and the average total pay will be 20 dollars an hour.
The brand is also committed to equal pay, having already achieved more than 99 percent pay equity across gender - and in the US - across race. Macy’s has also made investments in pay adjustments and recognition programs.
“We are proud that our workforce reflects the diverse communities we serve and continue to focus on embedding D and I into how we think, act and operate,” said Kirgan. “With these new investments today, we are excited to continue building on the strong foundation Macy’s Inc. has built over the years.”