×

Target Is Giving Out $200 Million in Bonuses — Here’s How Much Employees Could Get

Target Corp. is rewarding its employees with another round of bonuses.

The big-box chain announced today that it would hand out $500 to all hourly team members at its stores, distribution centers, headquarters and field-based offices. Its store directors, executive team leaders and salaried distribution center leaders — about 12,000 in total — will also receive bonuses ranging from $1,000 to $2,000.

Overall, the investment amounts to roughly $200 million and marks the fifth time the Minneapolis-based company offered additional payments to workers amid the global pandemic. Plus, Target shared that it would extend its coronavirus-related benefits for employees, including waiving its absenteeism policy for COVID-19-related illnesses; providing free access to health care through virtual doctor visits; a 30-day paid leave for “vulnerable” team members; and mental health support through free counseling sessions.

Target is currently among the biggest nationwide retailers to offer more than double the federal minimum wage for its workers in United States. (In July, it made good on a previously announced goal to raise its starting pay from $13 to $15 by the end of 2020.) What’s more, upwards of 350,000 employees — including some hourly associates in stores, call centers and distribution centers, plus seasonal hires — received a $200 bonus as an incentive for the holiday season.

Just over a week ago, the chain reported stellar sales both online and in stores for the months of November and December: It saw total comps advance 17.2%, driven by a 4.3% rise in traffic and a 12.3% increase in customers’ average ticket. While same-store sales climbed 4.2%, digital sales more than doubled — soaring 102% — as consumers turned to online channels to do their shopping. Target attributed the growth in e-commerce to same-day fulfillment options, such as order pickup, drive-up and its Shipt grocery service, which altogether jumped 193%.

“The momentum in our business continued in the holiday season with notable market share gains across our entire product portfolio,” chairman and CEO Brian Cornell said in a statement at the time. “We’re very pleased with our results, and the strength of our performance is a reflection of the tireless work of our team to support our guests through a safe, convenient and inspirational experience.”

ISA TanTec and LITE logos on Sponsored By ISA TanTec

Creating a More Sustainable Future at ISA TanTec

As an industry leader in leather, ISA TanTec™ is setting new sustainability standards.
Learn More

Access exclusive content