Market & Base Pay
What is $15–$24 per hour?
Target’s starting wage range for employees
What is broad banding?
Another name for Target’s geographic pay strategy
What is Dream to Be?
The program that offers 100% tuition coverage
What is attracting higher-quality employees?
One major benefit of higher wages
Who are students and part-time workers?
Flexible workforce group Target often hires
What is market-leading base pay?
This strategy helps Target attract more workers from competitors
What is an urban area?
Type of area that typically has higher starting wages
What is virtual healthcare?
Type of care Target offers 24/7 with no copays
What is wage compression?
A weakness caused by new employees earning similar wages to long-term workers
What is skill-based pay?
Pay model that rewards learning multiple roles
What is turnover and hiring costs?
The main cost Target reduces by paying higher wages upfront
What is cost of living?
Reason Target adjusts pay by location
What is 24/7 access to mental health experts?
Support provided for mental health at Target
What is financial instability?
A weakness related to unpredictable scheduling
What is providing more stable or predictable scheduling?
One suggested improvement for employee schedules
What is retail?
The industry Target operates in that often has high turnover
What is perceived unfairness?
A possible employee reaction to geographic pay differences
What is 10%?
Employee discount offered at Target stores
What is lost productivity and hiring costs?
One reason turnover is costly for companies
What is including employee feedback in evaluations?
Method to improve manager accountability
What is competency-based pay?
Pay system used for managers based on skills and performance
What is staying competitive in different labor markets?
Benefit of geographic pay for Target
What is 5% of pay?
Target matches employee retirement contributions up to this amount
What is feeling undervalued or demotivated?
Employee feeling caused by unequal pay across locations
What is increasing employee stability and reducing turnover?
Overall goal of improving benefits eligibility rules