Customer Service
Home Depot: Wage boost boosting customer satisfaction
May 18, 2023
The decision to spend $1 billion on additional wages and compensation is paying off for Home Depot when it comes to both customer satisfaction and worker safety.
The money spent for improved staffing is driving improvement in key customer service metrics as well as less safety-related incidents, according to a Business Insider report.
"These improvements are exactly what we set out to achieve with this wage investment," AnnMarie Campbell, EVP, U.S. stores, told investors on an earnings call, according to the news report.
The funding led to a starting pay of at least $15 an hour as well as increasing training, career development and benefits for employees.
"The investment in wage — which has really proven to have driven a lot of benefit on the customer experience side — that's embedded in our guidance," CFO Richard McPhail said during the call.
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