Walmart has announced that it will streamline job titles across its corporate staff in order to remain competitive. The retail giant stated that the update to its approach is aimed at reflecting the work being done today and ensuring that job titles are aligned across its campus office roles. While some staff members will receive new job titles, their roles, responsibilities, type of work, and base pay will not change.
Corporate employees at Walmart and its warehouse chain, Sam’s Club, will be reclassified into fewer groups of possible titles, with potential pay changes going into effect from November. While stock option awards will remain the same or even increase for many staff members, about 4% of the staff will see a decrease in stock-option awards in order to ensure compensation is consistent across different regions. However, those experiencing a reduction in stock options will receive a stock grant to account for the change.
Walmart’s head of global total rewards, Kim Lupo, referred to this change as “good compensation hygiene,” ensuring that the company appropriately rewards similar levels of work. This comes shortly after Walmart adjusted the hourly starting wage structure for its entry-level store workers, providing the same starting wages across various positions instead of different levels.