Walmart Announces Increases in Wages/Opportunities for Walmart Associates
February 20th, 2015
The Missionary Oblates JPIC USA and the OIP Trust have been a part of the ongoing conversation that shareholders have sustained with Walmart over many years. In a meeting with Walmart CEO Doug McMillion in 2014, the need to deal with income inequality and the inadequacy of minimum wage levels was on the agenda and openly debated. He listened attentively and participated. Fr. Seamus Finn, OMI, who participated in these dialogs, said: “We are pleased by the announcement that the company has made, because it will make a real difference in the lives of so many individuals and families and hopefully press other companies and the Congress of the United States to address these issues that are real challenges for our society and the future wellbeing of so many families.”
Members of the Interfaith Center on Corporate Responsibility (ICCR) and shareholders of Walmart were heartened by Walmart’s announcement on February 19th, of measures it is taking to improve both wages and opportunities for advancement for its 1.3 million U.S. employees.
ICCR members who have long engaged the company on employee wage and benefit issues are hopeful that, as the world’s largest employer, Walmart’s announcement will send a strong signal of the importance of raising wages for U.S. workers. The shareholder coalition has engaged companies in a range of sectors, including agriculture, apparel, consumer goods, restaurant, and technology on similar issues throughout their global supply chains. According to the package of changes the company announced today, Walmart has committed to increasing its base pay rate to $9/hr. in all markets and to raising its current associates’ wages to $10 an hour or higher by early next year. For reference, the current federal minimum wage is $7.25/hr. In addition the company is reforming how schedules are developed for its Associates and investing in capacity-building programs that will provide internal advancement opportunities.