Target's policy mostly pisses me off in the matter that the competitive wage increases cut into yearly raises.
I was hired at 7.50, min wage was $7.40 at the time. I was then boosted to $7.75, and then a yearly raise pushed it to $7.97. Min wage then jumped to $8.15. I didn't get boosted to $8.37 or $8.72, I was boosted to $8.15, and then a few months later to $8.50 due to a "competitive wage increase". Then went $8.50 to $9.50 when changed from N03 to N07.
I might actually get a raise this year, but only because minimum wage will rise to $8.50 (our base pay) in January, but if they raise N03 again when that happens my yearly raise will once again disappear. All said and done min wage in my state becomes $8.90 January 2017, and I doubt I will make more than $10.25 then ($8.90 + another .35 cent raise to push cashier higher than minimum, plus a dollar for N07) unless I have been promoted to a TL or found a job elsewhere.
Then again, I can guarantee one of those things will happen, because I won't continue working at my store as a TM for another two years.