Lorraine "Lo" Stomski’s Post

Exciting news to share today about the continued investments we’re making in our Walmart U.S. store managers! Making Walmart the best place to shop means we need to make it the best place to work. To accomplish that, we are on a journey of investing in our associates – from offering competitive front-line pay to benefits that support associates’ health and well-being in all aspects of life. Store manager pay is made up of 1) base pay, and 2) annual bonus. Today, we’re updating both. 1️⃣ First, base pay. We’re simplifying and increasing store manager pay. With this investment and upcoming annual increases, the store manager average base pay will go from $117,000 to $128,000 a year. 2️⃣ Second, annual bonus. We’re redesigning our store manager bonus program. In addition to sales, the store profit will play a bigger role in calculating an annual bonus. If a store manager hits all targets, their could now be up to 200% of base salary.   Proud of the leadership role our store managers play in communities across the country. Interested in being a store manager at Walmart? Go to Careers.Walmart.com. #TeamWalmart #OurPeopleMaketheDifference Read more from our EVP of Store Operations, Cedric Clark here: https://lnkd.in/g2eTn2u6

Exciting news to share about the continued investments we’re making in our Walmart U.S. store managers! Making Walmart the best place to shop means we need to make it the best place to work. To accomplish that, we are on a journey of investing in our associates – from offering competitive front-line pay to benefits that support associates’ health and well-being in all aspects of life. Store manager pay is made up of 1) base pay, and 2) annual bonus. Today, we’re updating both. 1️⃣ First, base pay. We’re simplifying and increasing store manager pay. With this investment and upcoming annual increases, the store manager average base pay will go from $117,000 to $128,000 a year. 2️⃣ Second, annual bonus. We’re redesigning our store manager bonus program. In addition to sales, the store profit will play a bigger role in calculating an annual bonus. If a store manager hits all targets, their could now be up to 200% of base salary. Proud of the leadership role our store managers play in communities across the country. Interested in being a store manager at Walmart? Go to Careers.Walmart.com #TeamWalmart #OurPeopleMaketheDifference Read more from our EVP of Store Operations, Cedric Clark here: https://lnkd.in/g2eTn2u6

This is a topic a lot of Business Owners / Employers don’t want to, or are reluctant to go into with their HR Professionals. They feel some don’t understand the business strategies from the perspective of the “investor” or business. Truth is, a good Retention Plan and Staff Career Progression Strategy equates to the growth of the business and organization at large.

simple and short

Today, we shared great news! We announced the next step in our journey of investing in our associates. Walmart store managers are the best leaders in retail, and we’re investing in them – simplifying their pay structure and redesigning their bonus program, which gives store managers the opportunity to earn an annual bonus up to 200% of their base salary.      Key Metrics:  Store managers average salary will go from $117,000 to $128,000 a year – once annual increases take effect.   The redesigned bonus structure means store managers can now receive a bonus that is up to 200% of their base salary.  #OurPeopleMakeTheDifference #TeamWalmart

Today, we shared great news! We announced the next step in our journey of investing in our associates. Walmart store managers are the best leaders in retail, and we’re investing in them – simplifying their pay structure and redesigning their bonus program, which gives store managers the opportunity to earn an annual bonus up to 200% of their base salary.      Key Metrics📈:  1️⃣Store managers average salary will go from $117,000 to $128,000 a year – once annual increases take effect.   2️⃣The redesigned bonus structure means store managers can now receive a bonus that is up to 200% of their base salary. #OurPeopleMakeTheDifference #TeamWalmart

Walmart is rethinking one of its most important jobs: store managers. -- The co has boost compensation after attrition rates passed those of other big-box cos -- Co also investing in tech like internal apps designed to help managers save time and hours of paperwork; tech improvements followed open mic listening tours -- Being a Walmart store manager is tougher given the size, volume and complex nature of the stores We talked to four Walmart store managers to get their view on how the job's changed. Read more on Bloomberg Businessweek:

Walmart is paying managers up to $500K, a significant signal for businesses and staffing companies. Here’s what you need to know: Competitive Compensation: High salaries for top talent are becoming the norm. To attract and retain the best, businesses must offer competitive compensation packages. Talent Management: Investing in managerial roles can drive company growth and improve operational efficiency. Ensure your staffing strategies include sourcing and nurturing high-caliber leaders. And investing in their professional development (hint hint ClearEdge can help you with this). Market Positioning: As major players like Walmart set new benchmarks, aligning your compensation and benefits with market trends to remain competitive. For staffing companies, adapting to these trends is essential. Spoiler alert, this was not a post announcing my new job as store manager of our local Walmart….yet 🤣🙌

And this is why working with BalancedComp can help you save time and money by tying pay to performance and establishing accurate salary ranges and grades. DM me if you want to have a conversation!

Something different for today. I found this quite interesting: Walmart recently made a bold move - offering store managers total compensation packages up to $500k annually. This strategic investment tackles turnover challenges (industry-wide) and recognizes the critical role of store managers. New packages include increased base pay, stock grants, and high-potential performance-based bonuses. But it seems to be taking off, attracting top talent, better retention, and motivation (good for those GMs…have you seen the size of those stores?). But, will it improve the bottom line?   It will be even more interesting to see what other big box retailers do, and will similar top-pay benefits trickle down to other retail and hospitality companies. I guess time will tell. It should be fascinating to keep an eye on this. Were you as surprised to see this as I was?   Check out the full story here: https://lnkd.in/gxmfniyU