Verizon issues wage hike, minimum pay raised to $20 an hour

Verizon Communications Inc., an American wireless carrier, announced on Monday, April 18, that it will be raising its new and existing customer service staff’s minimum wage. The retail and insider sales workers will also enjoy the new pay of $20 per hour despite the rising inflation.

According to Reuters, Verizon Communications is also offering a sign-on bonus to those who will be hired as retail specialists and assistant managers in some locations across the United States. The announcement comes some months after Walmart, Walgreen Boots Alliance Inc., and Chipotle Mexican Grill implemented hourly pay raise for their workers.

Most of the way, hikes in recent months were offered by major companies to attract more applicants as the labor shortage bites. They were also meant to lure people to get back to work, as many were sent home when the COVID-19 pandemic struck.

For Verizon Communications workers, that the company calls the V Teamers, the raising of the minimum wage is in recognition of their hard work and dedication. Aside from the $20 per hour rate for the mentioned group of workers, Verizon is also adding premium pay differentials for assistant managers who come to work on Sundays, holidays, and those who are bilingual.

“Our V Teamers give their best day in and day out to support our customers with all of their needs, which is why we want to make sure we support them as well,” Verizon Consumer Groups’ chief operating officer, Krista Bourne, said in a statement. “These changes are the direct result of employee feedback and will help us remain an attractive employer in this competitive environment.”

She added, “I am confident these changes will help us attract and retain the very best talent, and allow us to continue to improve our customer experience.”

Fortune reported that Verizon Communications Inc. is the latest wireless carrier company to increase its minimum hourly salary rate. The string of pay hikes in the U.S. is always associated with the unresolved labor shortage since it is one way of attracting people to come and work for a company that lacks the manpower to provide better services these days.