Walmart, the largest private-sector employer in the US, is implementing a bonus program for its hourly employees. The program aims to reward long-term employees, with a maximum bonus of $1,000 for those who have been with the company for 20 years or more. Eligibility for the program starts at one year of continuous employment, with full-time employees with one to five years of service receiving a $350 annual bonus. Walmart has been facing challenges in finding and retaining workers in the tight labor market. Over the past five years, the company has increased hourly wages by around 30%, with an average US hourly wage close to $18. The bonus represents an additional 3% of annual pay for full-time employees earning the average hourly wage. Around 700,000 of Walmart’s hourly store employees will be covered by the new bonus program.
