Dear Corporate, kudos for introducing bonuses for Level 35 hourly store level staff. It can be a great tool for motivating excellence and transforming Target's culture to include more promotion-from-within. Offering your best bonuses to the 20% TMs you see as the "rock stars" is a great way to build and retain future leaders.
In the future, take into consideration the benefit of offering a modest bonus for the other 80% of your TMs. If you want, you can exclude from the bonus TMs who are under disciplinary action, or who have been with Target for less than one year. This is not a matter of pushing an "equity" agenda that everybody deserves the same rewards because everyone is "equal". It's a shrewd business decision to reinforce the corporate belief in "team", "teamwork", "you make Target" and more importantly to retain the engagement of hard-working non-rock-stars who are dependable. I'm at a loss for words here, but many people who are hourly store TMs are in the early stages of their working lives. It's easy for them to find a better job and quit yours.
Dear Corporate, here's something else to think about,
Throughout the US, he retail industry is finding it incredibly hard to find employees to work in the stores, warehouses, distribution centers and related jobs. Your existing TMs are learning about this when they log in to Instagram, Reddit, Twitter, Facebook, or other news sources. Your existing TMs are seeing other stores offering higher minimum pay than Target, along with signing bonuses, while at the same time our cost of living has risen a lot since the beginning of this year due to inflation. Those modest merit raises from early this year have already been wiped out. I've already seen TMs in our stores quit to take better-paying jobs in the same field with competitors.
Instead of focusing on a big one-size-fits-all increase in Target's company-wide minimum wage, why not offer your existing hourly TMs who have been at Target at least 6 months a one-time 5% pay bump, plus an extra 2% pay bump for TMs who've been with Target for over 2 years? In high-cost-of-living areas, you might even add an extra 2% for existing TMs. These would reduce attrition levels at a time when Target will benefit more than ever by developing its current workforce and keeping them from defecting to places like Amazon and Costco.
This is much shrewder than getting Target into a "price war" with Amazon, Walmart, Costco, Best Buy etc. for new employees. It fits into Target's commitment to more scheduling flexibility and its commitment to social justice. Your current staff are losing buying power, and it's going to accelerate people switching employers just to make ends meet. Think about it.