CVS to raise minimum wage to $15 an hour next year

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(WNCN) – CVS has announced it will raise it minimum wage to $15 an hour next year, as well as remove several barriers to obtaining employment.

Officials say the new minimum wage will take effect July 2022. Currently, about 65 percent of CVS’s hourly employees earn more than $15 an hour.

“Attracting and retaining top talent across our businesses is critical as we continue to redefine what it means to meet people’s health needs,” said CVS Health President and CEO Karen S. Lynch. “These wage increases will have a meaningful impact on our colleagues and their families while helping the communities we serve prosper.”

The increase to $15 an hour will mark a 60 percent increase in the minimum wage over a four-year period.

“With millions of visits per day to our nearly 10,000 locations across the country, our retail business plays an important role in how we deliver care,” said CVS Health Chief People Officer Laurie Havanec. “Our track record on wages aligns with the evolving needs and expectations of CVS Health colleagues in customer-facing roles.”

In addition to raising wages, CVS Health is removing the high school diploma or GED requirement for most entry-level roles, and this year will eliminate the GPA requirement for university recruitment.

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