NEW YORK—Verizon is raising its minimum pay to $20 an hour for starting employees, according to a news release.
Customer service workers will receive $20 an hour, while retail and inside sales employees will receive $20 when base salary plus target commission are combined, and any current employee not receiving $20 an hour will get an automatic raise. The company is also adding pay differentials for assistant managers who work on holidays, Sundays and for those who are bilingual.
“Our V Teamers give their best day in and day out to support our customers with all of their needs, which is why we want to make sure we support them as well,” said Krista Bourne, chief operating officer for Verizon Consumer Group. “These changes are the direct result of employee feedback and will help us remain an attractive employer in this competitive environment.”
Verizon is also offering sign-on bonuses for retail specialist and assistant manager positions in select markets.
“I’m confident these changes will help us attract and retain the very best talent and allow us to continue to improve our customer experience,” said Bourne.
Verizon employees are offered tuition assistance, wellness resources and family planning support such as paid parental leave, backup child care and elder care.
Verizon is often recognized as one of the best places to work, including Forbes World's Best Employers and Forbes Best Employer for Women in 2021, and the company ranked No. 18 on 2022 LinkedIn's Top U.S. Companies and scored 100% on the 2022 Disability Equality Index as well as the Human Rights Campaign’s Corporate Equality Index.
Nearly every company is feeling the effects of the tight labor market. Amazon is reportedly looking to recruit high school graduates to work in its warehouses, and Tyson Foods has expanded its immigration assistance program to help more of its immigrant employees become U.S. citizens, in an effort to recruit and retain workers as the U.S. continues to struggle with labor shortages. Walmart will now pay its truck drivers up to $110,000 in their first year, and the retailer is launching a 12-week program that allows its supply chain associates in certain markets to earn their commercial driver’s license and become long-haul truck drivers for Walmart.
The struggle to find labor has some companies rethinking job qualifications, including nixing drug testing, and using new incentives to attract employees. Many companies are dropping education requirements and background checks for applicants, and some companies no longer require college graduates to submit their grades.
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