INDIANAPOLIS — CVS Health will become the latest major company to raise its minimum hourly wage to $15 an hour, the company announced Wednesday.
The company plans to make the wage increase effective in July 2022 with incremental hourly rate raises beginning this month. About 65% of CVS Health's employees already make more than $15 an hour, according to a news release.
“These wage increases will have a meaningful impact on our colleagues and their families while helping the communities we serve prosper," CVS Health President and CEO Karen S. Lynch said. "Today’s announcement is the latest in a series of investments in our people, including bonuses and benefit enhancements throughout the pandemic.”
Company officials said moving to $15 an hour next year will mark a more than 60% increase in the CVS Health minimum enterprise hourly wage over a 4-year period.
Employees, such as pharmacy technicians and call center representatives, who make more than the minimum rate will also see higher starting pay.
“With millions of visits per day to our nearly 10,000 locations across the country, our retail business plays an important role in how we deliver care,” CVS Health Chief People Officer Laurie Havanec said. “Our track record on wages aligns with the evolving needs and expectations of CVS Health colleagues in customer-facing roles.”
CVS Health also announced more than 500 new jobs are available in Indianapolis. The company is hiring for store managers, pharmacists, pharmacist technicians, cashiers and beauty sales consultants, distribution center workers, and customer service representatives.
People interested in applying can search openings online.
The company recently eliminated its high school diploma or GED requirement for most entry-level jobs, and it will scrap its GPA requirement for university recruitment, company officials said.