Signet Jewelers will raise its minimum wage to $15 an hour.
The permanent increase comes hot on the heals of a one of bonus paid recently to full-time and part-time hourly employees to recognize their work during the pandemic.
When fully rolled out by the spring of 2022, the company’s new minimum wage will cover all full-time and part-time positions.
“As a purpose-driven company that puts our people first, we believe that raising our minimum wage is the right thing to do,” says Signet CEO Gina Drosos.
“Our team showed incredible agility, creativity and compassion this past year – learning new capabilities that accelerated our transformation, exceeded customers’ expectations and delivered the best holiday season we’ve had in nine years. As we enter the next phase of our Path to Brilliance, we do so with the firm belief that businesses that prioritize their team will deliver better results by unlocking even more innovation.”
The pay rise is part of an ongoing program at Signet to transform its workforce for the changing face of retail. Other examples include:
- Newly created jobs – Since last spring, Signet has created hundreds of new positions that support its transformation into an omnichannel retailer. New roles include seasonal in-store concierges and 700 virtual jewelry consultants.
- The group is allowing additional paid time off for parental care, community service, voting, and vaccinations. In addition, Signet leaders including CEO Gina Drosos have led employee discussions about challenging societal issues such as social justice and racism and have continued to accelerate inclusion as a company priority, consistent with Signet’s purpose and values.
- Love Takes Care™ store safety program – To fight COVID-19 in its stores and distribution centers, the company last year introduced a suite of robust health and safety protocols to heighten safety for store employees, visitors and communities in collaboration with health experts.
- Signet Team Member Relief Fund – Signet last year activated this fund with new donations specifically to assist employees experiencing financial challenges due to COVID. It has since helped hundreds of employees.
“Signet’s business is based on the enduring power of relationships and love,” said Mary Liz Finn, Signet Chief People Officer. “Our team members nurture relationships with customers and the many communities we’re a part of each day, in every part of our business. Continuing to invest in our team members helps ensure that they can thrive at work and at home, build long-term careers, and contribute to their communities.”