Walmart shareholders voted against several proposals. These initiatives included increasing employee safety, steps to decrease in-store violence, racial equity audits, increase the rights of associates, to reports impact assessments and to increase the base compensation for employees.
The proposals were all submitted by shareholders. However, since the Walton family owns 45% of the company’s shares, they can prevent shareholder proposals from passing unless they agree with it. None of the proposals were approved, despite the fact that proposals were submitted by respected organizations. The groups included LIGM America, the labor group United for Respect (UFR), and Oxfam America, a nonprofit organization focused on justice and poverty relief. Walmart’s board of directors recommended shareholders vote against each of the proposals.
While social media reports significant pay inequality of black associates in cities like Memphis, it is notable that Walmart has initiated some benefits for managers and for associates that will train them for better positions.
Nonetheless, LIGM America cited that minimum wage, which is a frequent entry wage for Walmart associates, stands at $14 per hour. Therefore, an associate who works 40 hours a week for 52 weeks a year would earn $29,120 a year. The Federal poverty guideline for a family of four stands at $31,200 for contiguous states and Washington, D.C. Walmart’s response was that its average hourly wage for associates is $18, which an annualized basis would be $37,440. Walmart stated that it has already made strides where pay and benefits are concerned.
As I reported in Forbes.com on June 7, 2024, Walmart announced a program where associates can receive a bonus up to $1,000 annually. Eligibility is based on length of service and performance. Walmart views this as the latest step in its ongoing step to improve compensation for the nearly 700,000 associates who will be eligible.
POSTSCRIPT: Walmart is well aware of the low wages it is paying to associates. It is making the job more valuable by offering skill-improvements and bonuses. Management wants to incentivize associates, increase productivity, charm the customer and have happy associates. The rapid spike in inflation warrants a corresponding need for higher wages. Walmart has seen positive results with their own initiatives.
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