[Asia Economy Reporter Jeong Hyunjin] Walmart, the largest retailer in the United States, is launching a college graduate training program to recruit store managers earning nearly 300 million KRW annually. Following a bold salary increase to attract truck drivers amid labor shortages, the company is now focusing on generational replacement of store managers.
According to Bloomberg News and others on the 15th (local time), Walmart announced in a statement that it will conduct the "College2Career Program" this summer. The program aims to train recent or soon-to-be college graduates to become store managers who can be deployed on-site within two years.
Students who perform well in the program will take on a preliminary coach role and receive a minimum annual salary of $65,000 (approximately 83 million KRW), while receiving training to grow into store managers within two years. Last year, Walmart’s store manager salary was $210,000 (approximately 270 million KRW). College graduates who enter this program and achieve good results can secure high-paying jobs.
The Wall Street Journal (WSJ) reported, "The program started this spring with two college graduates, and this summer, Walmart aims to bring in nearly 1,000 applicants."
Walmart initiated this program to prioritize securing talent amid labor shortages. Store managers at Walmart are essential positions managing about 300 employees across more than 4,700 stores in the U.S. Until now, qualified internal employees were promoted and trained as assistant store managers for about 10 years before becoming store managers.
However, WSJ reported that Walmart is now facing a need for generational replacement of store managers. Most remaining store managers have over 10 years of experience, creating a demand for younger talent. Brandi Jordan, Walmart’s HR executive, said, "In three years, the talent pool for store managers I currently have will likely be insufficient."
Walmart is implementing consecutive measures such as wage increases to combat labor shortages. Last month, to address the global logistics crisis, Walmart announced it would raise starting salaries for long-haul truck drivers by 26% to a maximum of $110,000 (approximately 140 million KRW). The company is also expanding truck driver training programs and covering related costs.
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