A $20 minimum wage? One company makes a big commitment to paying livable income.
Verizon, one of the country’s largest wireless network operators, made a bold move Monday among corporate colossi.
The company raised its minimum wage to $20 per hour.
“These changes continue to reflect Verizon’s dedication to our employees to make it a great place to work,” Chris Serico, a communications manager at Verizon, told The News & Observer. “And to look at it another way, we want to attract and retain the very best talent. So that’s why we raised our minimum wage nationwide.”
The new base pay rolled out Monday for new hires and current employees. Verizon workers who previously earned less than $20 per hour “automatically got that jump,” Serico said.
Verizon also committed to sign-on bonuses in select markets across the country. The company will give $2,500 to retail specialists and $3,500 to assistant managers at some Triangle locations, including those in Raleigh, Wilson, Brier Creek and Knightdale. The bonus program does not have an “end date established at this time,” according to Serico.
Verizon’s salary hike comes amid a nationwide employer reckoning. What some have called “the great resignation” was largely born of employee discontentment with incomes below a living wage. Several companies, such as Amazon, Best Buy and CVS have increased minimum hourly wages to $15 an hour, but $20 an hour stands out among the country’s largest retailers.
“We know that there are a lot of opportunities out there for people to choose for their careers,” Serico said. “This is just another example how Verizon’s culture really embraces talent and people. We want to attract that talent, train it, and remind people that this is a great place for people to work for the bulk, if not all of their careers.”
