Walmart CEO says paying its star managers upwards of $620,000 yearly empowers them to ‘feel like owners' [Fortune]
Exxon Mobil Corporation (XOM)
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Source: Fortune
combat supervisor attrition and disengagement—a strategy paying off for other like-minded bosses who are putting their money where their mouth is. For many employees, it can be hard to feel connected to their company, especially at huge corporations like Walmart . But in 2024, U.S. CEO John Furner pulled out the big guns to ensure star managers feel the love—by paying them upwards of $620,000 per year. “What we did last year was make managers feel like owners,” Furner said recently at a retail and consumer conference. “This includes shareholding, which has positively impacted their approach to the company's profits and losses.” In a bold move to boost morale and retention after fighting turnover and manager shortages during the pandemic, the $689 billion retail giant gave its top-performing regional store managers a serious payday in January—raising their total compensation to between $420,000 and $620,000. Their average base pay was hiked from $130,000 to $160,000, with the r
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