Home Depot Invests in its Associates

Posted: February 24, 2023
Category: Industry News

Home Depot announced that they are investing an additional $1 billion in wage increases for its frontline hourly associates. This will drive wage growth first and foremost for all tenured frontline hourly associates. It will also benefit those just starting their careers at The Home Depot. This investment positions more favorably in every market where Home Depot operates, and its starting wage in every U.S. market is at or above $15 per hour.

The new wages went into effect on February 6, so some associates already saw the new rates reflected on their February 17 paychecks. All remaining associates will see the increase in their February 24 paychecks.

Home Depot has continuously focused on cultivating the best associate experience in retail, with ongoing investment in associate wages, benefits, bonuses, job tools, and career development opportunities. They have also enhanced training and career development opportunities for its associates. In 2022 alone, more than 65,000 associates were promoted into positions of increased responsibility.

Excellent customer service is one of its core values, and they view its investment in knowledgeable and experienced associates who provide that excellent customer service as critical to Home Depot’s success. Additionally, since 90 percent of store leadership started as hourly associates, today’s new hires are future leaders. This investment will help attract and retain the best talent in its pipeline.

About The Home Depot
The Home Depot is the world’s largest home improvement specialty retailer. At the end of the third quarter of fiscal year 2022, the company operated a total of 2,319 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately 500,000 associates.