Hobby Lobby recently announced that beginning January 1st, it would raise hourly pay rates for its employees from $17/hour up to $18.50/hour.
The company is going one step further by also continuing to offer medical, dental, and prescription insurance, a 401(k), flexible scheduling, life insurance, paid time off, and an employee discount. To call this wage hike by Hobby Lobby noteworthy is probably an understatement. Nevertheless, readers will likely recall that with a tight labor market and big box retailers fighting amongst themselves for a small pool of available workers, this wage hike by Hobby Lobby sets the company apart from a lot of other employers. While we have seen some employers offer to pay for tuition expenses of employees as a way to draw in (and retain) workers, Hobby Lobby’s generous compensation package along with this new wage hike certainly distinguishes the company.
Of course, this inevitably makes me wonder what another big box retailer is going to offer now to try and one up Hobby Lobby.
For additional information: https://www.foxbusiness.com/lifestyle/hobby-lobby-minimum-wage
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