Verizon has increased the minimum wage to $20 an hour

Verizon is increasing the minimum wage for its employees to $20 an hour. The wireless carrier said that the wage increase will apply on customer service, retail and inside sales employees. The company has come up with this decision to attract and retain the very best talent.

Increase for customer service, retail and inside sales employees

On Monday, Verizon announced the wage increase in recognition and dedication of its employees. All existing workers employed in customer service, retail and inside sales receiving less than $20 an hour will be adjusted according to new wage rate. The minimum wage for customer service employees is increased to $20 an hour. Whereas, retail and inside sales employees will get $20 an hour which will include base pay plus target commission. Moreover, the company is adding premium pay differentials for assistant managers who work on holidays and Sundays. In addition, Verizon is also offering a sign-on bonus for retail specialist and assistant manager positions.

“Our V Teamers give their best day in and day out to support our customers with all of their needs, which is why we want to make sure we support them as well. These changes are the direct result of employee feedback and will help us remain an attractive employer in this competitive environment. I’m confident these changes will help us attract and retain the very best talent, and allow us to continue to improve our customer experience.” Krista Bourne, Chief Operating Officer for Verizon Consumer Group said in a statement.

Wage increases by U.S. employers

In wake of several worker strikes and challenges like “The Great Resignation” many employers have done salary benchmarking. Two Verizon stores north of Seattle won their union election last week. This made them the first unionized Verizon stores in the country outside New York.  Last year, Amazon announced to raise minimum wages to $18 an hour to $24 an hour. However, Verizon is consistently ranked as one of the best places to work. In 2021, Forbes named them World’s Best Employers and Forbes Best Employer for Women. Moreover, LinkedIn termed them 18^th best among the top companies in United States.

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