CVS just announced it will pay its hourly workers an additional $2 an hour, give parental leave - and it won’t increase health care premiums.
Now this is a prescription for job satisfaction.
CVS is raising the starting pay of its hourly workers from $9 to $11 beginning in April, and the pharmacy chain’s full-time employees will now qualify for up to four weeks of paid parental, the company announced on Thursday. CVS credited Congress’ tax overhaul, which cut the corporate tax rate for big businesses down to 21% from 35%, for providing the means to boost employee benefits.
“As part of our ongoing commitment to the patients, customers and communities we serve, we said that we would invest our tax savings back into our business, and that’s exactly what we’re doing,” said Larry Merlo, CVS Health president and CEO, in a statement. “Today, we’re building on the investments we’ve been making in our employees, in their wages, benefits and career development. It’s our employees who drive our performance and we appreciate how hard they work every day to deliver on our purpose of helping people on their path to better health.”