NEW YORK — In a year's time, CVS Health will raise the minimum wage for hourly employees in its pharmacy locations to $15, according to an announcement made by the company on Wednesday.
The company says it will begin making incremental increases starting this month.
"All CVS Health employees earning hourly wages will make at least $13 an hour effective Sept. 5, 2021, and at least $15 an hour by July 2022," said Ron Boehmer, a spokesperson for CVS Health.
The company is touting the wage increase as one step among many toward investing in its workforce and removing barriers to employment in communities where its pharmacies are located. For example, in the last two weeks, CVS Health says it has opened workforce development centers in Pittsburgh and Philadelphia, collaborating with faith-based and community organizations to offer training to underserved populations.
Approximately 65% of employees earning hourly wages already make more than $15 an hour, the company reported in its announcement. Boehmer said those employees may have their pay adjusted higher, depending on several factors, including tenure and where they fall in the pay range.
Currently the lowest hourly wage is $11, which is the level the company raised it to in 2018, Boehmer said.
The new wage structure includes other increases, such as a higher starting wage for pharmacy technicians and call center representatives.
"These wage increases will have a meaningful impact on our colleagues and their families while helping the communities we serve prosper," said Karen S. Lynch, the company's president and CEO.
Across nearly 10,000 CVS locations, the company says its pharmacies get millions of visits every day.