Home Depot Invests Another $1 Billion in Pay Increases for Hourly Workers

​Home Depot

This week, The Home Depot announced that it is investing an additional $1 billion in wage increases for its hourly associates.

The raises have already started arriving for all tenured frontline hourly associates. They will also benefit anyone just hired for a new job at the chain hardware store, boosting starting wages in every U.S. market at or above $15 per hour.

The new wages went into effect on February 6, so some already saw the new rates reflected on their February 17 paychecks. All remaining associates will see the increase in this week’s paychecks.

“We’ve been continuously focused on cultivating the best associate experience in retail, with ongoing investment in associate wages, benefits, bonuses, job tools, and career development opportunities,” wrote Ted Decker, President and CEO, in an email to employees.

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“We’ve also enhanced training and career development opportunities for our associates.”

“Excellent customer service is one of our core values—and we view our investment in the knowledgeable and experienced associates who provide that excellent customer service as critical to our success.”

The raises followed a similar company move near the end of 2020—the first year of the pandemic—that saw the U.S. hardware giant invest another $1 billion in its employees.

Better wages are aimed at helping The Home Depot attract and retain “the best talent” available.

The 94-year-old company co-founder Bernie Marcus had previously announced in 2019 a pledge to give most of his wealth to charity before dies.