Commentary: Walmart pays store managers as much as US$500,000

LONDON: After being on the frontline of the pandemic, then grappling with an edgy public and a spike in shoplifting, it’s been a tough few years to work retail. But for Walmart managers, at least, things are looking up.

That’s far more than the typical pay of a US store manager, which is around US$100,000 per year .Although the announcement raised analyst eyebrows, it’s a smart move for Walmart – and given that the company’s influence as the world’s biggest retailer, could be good for society too. There’s evidence this contentment can boost company and stock performance. In a 2012 study, Alex Edmans, Professor of Finance at the London Business School , found that firms on Fortune’s list of 100 Best Companies to Work for in America, which have superior employee satisfaction scores on factors including pay and benefits, outperformed peers by 2.3 per cent to 3.8 per cent per year from 1984 through 2011.

While everyone deserves a living wage, a job that delivers a large sum can be life-changing, helping a family get on the housing ladder or achieve a new level of education. And opening that pathway to employees who may not have a college degree is particularly transformative.To provide those opportunities – and to do so in a way that motivates an entire workforce – requires companies to put mindful policies in place.

Source: News Formal (newsformal.com)

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