“I almost fainted" | Walmart says its $500,000 store manager compensation plan is driving engagement, retention, & sales

Walmart has seen improvements to manager retention, turnover, and engagement following the introduction of a new compensation plan in January 2024, a company EVP has stated.

Under the new policy introduced in January, managers at the retail giant received a bump to their base salary, jumping from an average of $117,000 to $128,000.

Bolstered by annual stock grants of up to $20,000 per year, and a new bonus structure that allows managers to earn up to 200% of their base salary, a manager can now theoretically earn a total compensation of over $500,000.

According to a report from Bloomberg, the company also looked to improve manager work-life balance through technology that reduces busywork and offered new benefits such as telehealth and doula services.