‘I am proud of the resilience and strength our associates have continued to demonstrate’
Home Depot is investing about US$1 billion to provide permanent raises for frontline, hourly associates.
The investment in permanent compensation enhancements is also taking place in Canada, says Paul Berto, director of corporate communications at Home Depot Canada.
The announcement is a transition from when the company introduced temporary programs, such as the expanded paid time off for all hourly associates to use at their discretion, and a temporary weekly bonus program, throughout the COVID-19 pandemic.
“Our ability to effectively adapt to this high-demand environment is a testament to both the investments we have made in the business as well as our associates’ focus on customers,” says Craig Menear, chairman and CEO. “We continue to lean into these investments because we believe they are critical in enabling market share growth in any economic environment. I am proud of the resilience and strength our associates have continued to demonstrate, and I would like to thank them and our supplier partners.”
The announcement follows a successful third quarter for the company, with sales of US$33.5 billion, up by US$6.3 billion or 23.2 per cent compared to the third quarter of 2019.
Overall, the company has more than 400,000 associates at 2,295 retail stores in the U.S., Puerto Rico, the U.S. Virgin Islands, Guam, Canada and Mexico.
“Proud to be part of this fantastic company!,” said Carlye Anderson, senior manager of talent acquisition, technology at the Home Depot, in a LinkedIn post.