- Walmart will accelerate college graduates into management positions, earning up to $210,000 a year.
- The retailer announced a new graduate program designed to give graduates experience in store management.
- It expects to accelerate high-performing employees into store management roles within two years.
Retail isn’t always seen as the most attractive career path for college alumni, but Walmart hopes to change that by offering new grads a fast track to management and the chance to earn up to $210,000 in two years after joining. in the company .
This summer, the largest US employer will pilot a new careers program designed to give graduates experience in managing Walmart stores, it announced in a statement on Sunday.
Under the “College2Career” program, college graduates, or those who graduated in the previous 12 months, will partner with company leaders to learn how to run a Walmart store, he said.
At the end of the program, top performers will be offered a newly created management role of “emerging coach” – which comes with a salary of $65,000 – in preparation for a move to store management roles within two years. . The median salary for store managers was $210,000 in 2021, according to the release.
“We see the emerging role of coach as an additional channel to develop high-potential talent into future store managers,” said Amy Goldfinger, senior vice president, global talent, and Lorraine Stomski, senior vice president, learning and leadership, at the communicated.
It usually takes many years for someone starting out on the shop floor to be promoted to manager.
Walmart is one of the biggest recruiters in the world, employing more than 2.3 million people worldwide – 1.6 million of whom are in the US – but like other companies, it is having to rethink the package of opportunities offered to recruits. and existing employees as the so-called ‘Great Layoff’ shows no signs of slowing down
Approximately 4.5 million Americans left their jobs in March, according to the Bureau of Labor Statistics, the 10th straight month that layoffs topped four million. Total job openings were 11.5 million in the same month, according to the latest BLS job openings and labor turnover survey, published in May. Retail was one of the sectors with the highest number of open positions.
Many of these shifting jobs are in search of better pay, but many also want their employers to provide them with more learning and development opportunities, a trend accelerated by the COVID-19 pandemic.
Walmart announced the new program as part of a broader update to its hiring strategy, which includes plans to increase intern interns by 30% year-over-year. The company already pays workers to enroll in university or higher education courses.
In April, Walmart raised its truck drivers’ starting salary from about $87,500 to between $95,000 and $110,000.
As part of the “College2Career” program, participants will receive a mix of classroom training and hands-on experience at a local store, the statement said. Walmart did not disclose when registration will open or how many spots will be available.
Walmart did not immediately respond to Insider’s request for further comment, which was made outside of normal US business hours.