COMP NEWS – As the holiday season begins in earnest, major retailers are turning towards new pay incentives in order to retain employees working through the holiday season.

In light of nationwide staffing shortages and some of the busiest shopping days of the year coming up this week, some companies are hiring fewer people and offering more pay to ensure Black Friday and holiday shopping runs smoothly.

Target is implementing an hourly bonus on weekends throughout the holiday season.

At Target in Monroe, the company hired 85 seasonal workers, 10 fewer than last year, according to Casey Beckley, human resources executive. However, with fewer seasonal hires, Target has announced that all employees, who already make at least $15 per hour, will receive an added $2 per hour during weekends from Thanksgiving to Christmas. Additionally, the reduced number of hires ensures each employee will continue to rack up 30 hours per week instead of having reduced hours to accommodate more employees in the weekly schedule. 

Retailers are implementing more varied pay incentives in response to a nationwide labor shortage.

Beckley said the additional pay has been a large factor in hiring employees for the busy season. According to Forbes, 942,000 people voluntarily left their jobs in June 2021, up from 164,000 people the year before.

JCPenny is another retailer giving employees bonuses for seasonal work.

JCPenney is another retailer offering extra pay during the holiday season to bring in additional staff. At the end of October, the retailer announced it would hire 25,000 seasonal associates across its 650 stores. Similar to Target, these employees will receive an extra $2 per hour weekends from Nov. 14 through Dec. 25, as well as on Black Friday and Christmas Eve. On top of the premium pay, employees will get discounts and flexible scheduling.

To see more examples of retailers using pay incentives to retain their staff, click here.

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