It\u2019s the latest retailer to sweeten compensation amid a hiring crunch.<\/b>
\nWalgreens Boots Alliance will boost the starting wage for its U.S. employees to $15 an hour, becoming the latest retailer to sweeten compensation amid a hiring crunch. The company will start gradually increasing pay in October and expects to fully implement the new rate by November 2022. The Deerfield, Illinois-based company operates about 9,000 drugstores across the U.S. California\u2019s minimum wage rises to $15 hourly for larger companies in January. Employers must have more than 26 workers for the rate to rise from the current $14 hourly wage floor. Rewarding employees is \u201chighly important to retaining and attracting a talented workforce, and to continuing to serve our critical role in community health care,\u201d Walgreens Chief Executive Officer Rosalind Brewer said in a statement. Walgreens follows U.S. retailers such as Target Corp., Best Buy Co Inc. and Amazon.com Inc., which have increased wages in recent years in order to stand out in a competitive job market. Walgreens\u2019 main competitor, CVS Health Corp., earlier this summer announced it would bump starting pay to $15 an hour by July 2022. The wage increase will cost Walgreens about $450 million over the next three years. Walgreens expects to partially absorb the expense through the normal course of business. Related Articles Bosses to U.S. workers: Vaccination or termination\t Who pays the price for California\u2019s affordable housing?\t 50% of US workers favor employee shot mandate, poll says\t Mazda switches Irvine HQ, U.S. staff to \u2018virtual-first workspace\u2019\t California jobless claims are getting worse again<\/p>\n