To: All U.S. Associates
From: Ted Decker, Chair, President and CEO
Tuesday, February 21, 2023
Today, we announced that we are investing an additional $1 billion in wage increases for our frontline hourly associates. This will drive wage growth first and foremost for all our tenured frontline hourly associates. It will also benefit those just starting their careers at The Home Depot. This investment positions us more favorably in every market where we operate, and our starting wage in every U.S. market is at or above $15 per hour.
The new wages went into effect on February 6, so some associates already saw the new rates reflected on their February 17 paychecks. All remaining associates will see the increase in their February 24 paychecks.
We’ve been continuously focused on cultivating the best associate experience in retail, with ongoing investment in associate wages, benefits, bonuses, job tools, and career development opportunities. We’ve also enhanced training and career development opportunities for our associates. In 2022 alone, more than 65,000 associates were promoted into positions of increased responsibility.
Excellent customer service is one of our core values, and we view our investment in the knowledgeable and experienced associates who provide that excellent customer service as critical to our success. Additionally, since 90 percent of our store leadership started as hourly associates, today’s new hires are our future leaders. This investment will help us attract and retain the best talent into our pipeline.
Thank you to all our associates, especially our frontline associates, for all you do every day to take care of our customers and each other.
- Ted
Editor's Note: Ted Decker, chair, president and CEO of The Home Depot, sent the following communication to all U.S. associates.
