Saks Off 5th has raised the minimum wage for all of its hourly store associates to $ 15 an hour, a further sign that retailers are investing more to attract and retain employees.
The company is also looking to hire around 500 seasonal associates in the United States and Canada, including many positions that have the potential to transition to full-time positions in 2022.
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Saks Off 5th’s efforts to strengthen its workforce mirror similar initiatives by other large retailers such as Kohl’s, Walmart, Macy’s and Belk in recent weeks to hire thousands more workers for their stores, distribution centers, distribution centers. ‘calls and other facilities to help them manage the holiday season. It is expected to be a particularly difficult season to meet customer expectations due to the country’s labor shortage, global supply chain bottlenecks and increased demand. of consumer goods. This year, retailers also offered greater incentives and benefits to retain workers.
In its announcement Thursday morning, Saks Off 5th said the pay hike reflected efforts to “support and invest” in its employees with pay increases. The company also grants hourly store associates a $ 500 “appreciation bonus†and competitive advantage offers.
According to a spokesperson for Saks Off 5th, the previous minimum wage varied in our stores based on local requirements.
“The past 18 months have been unlike anything we’ve seen in retail before and this base salary increase is a testament to the collective commitment and dedication of our associates to our business,†said Rob Brooks, president of Off 5th, in a statement Thursday. . “As we strive to create the ultimate low-cost luxury retailer, we are focused on investing and attracting the talent we need to move our business forward.
Saks Off 5th officials said the company offers eligible full-time and part-time associates flexible hours, competitive compensation, a full package of benefits, associate discounts and paid time off, including holidays. Those interested in applying can visit the Saks Off 5th website.
Saks Off 5th operates over 100 locations in the US and Canada and sells designer and premium products at a discount. In June, the Saks Off 5th retail fleet and Saks Off 5th e-commerce business were split into two separate companies by the parent company, the Hudson’s Bay Co.
Insight Partners has invested $ 200 million in Saks Off’s 5th e-commerce company, valuing it at around $ 1 billion. The operation of the Saks Off 5th physical store, known as O5, remains the sole property of HBC. Earlier this year, HBC also established separate companies for Saks Fifth Avenue’s regular-price stores and e-commerce operations.
