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Signet to Raise Its Minimum Wage to $15/Hour

The policy will be fully rolled out by spring 2022.

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AKRON, OH — Signet Jewelers announced it will raise its U.S. minimum wage to $15 an hour.

The policy, which will cover all full-time and part-time positions, will be fully rolled out by spring 2022, according to a press release from the company (NYSE: SIG).

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“As a purpose-driven company that puts our people first, we believe that raising our minimum wage is the right thing to do,” said Signet CEO Gina Drosos. “Our team showed incredible agility, creativity and compassion this past year – learning new capabilities that accelerated our transformation, exceeded customers’ expectations and delivered the best holiday season we’ve had in nine years.

“As we enter the next phase of our Path to Brilliance, we do so with the firm belief that businesses that prioritize their team will deliver better results by unlocking even more innovation.”

Signet operates about 2,900 stores primarily under the name brands of Kay Jewelers, Zales, Jared, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com.

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The company noted that the minimum-wage increase is “the latest example of Signet’s ongoing investments in its people over the last 12 months.” For example, the Love Takes Care Appreciation Award, was a bonus paid recently to full-time and part-time hourly employees to recognize their work during the pandemic.

Additional examples listed in the release:

Newly created jobs – Since last spring, Signet has created hundreds of new positions that support its transformation into a best-in-class omnichannel retailer capable of meeting customers wherever, whenever and however they want to shop. The new roles include seasonal in-store concierges and 700 virtual jewelry consultants. Also, Piercing Pagoda is actively recruiting 200 facial piercing artists as it expands its piercing service offerings.

Evolved employee experience – New initiatives include additional paid time off for parental care, community service, voting, and vaccinations. In addition, Signet leaders including CEO Gina Drosos have led candid employee discussions about challenging societal issues such as social justice and racism and have continued to accelerate inclusion as a company priority, consistent with Signet’s purpose and values.

Love Takes Care store safety program – To fight COVID-19 in its stores and distribution centers, the company last year introduced a suite of robust health and safety protocols to heighten safety for store employees, visitors and communities in collaboration with health experts.

Signet Team Member Relief Fund – Signet last year activated this fund with new donations specifically to assist employees experiencing financial challenges due to COVID. It has since helped hundreds of employees.

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