CVS Health Raising Minimum Wage To $15 An Hour By 2022

WOONSOCKET, RI — CVS Health will increase its minimum wage to $15 an hour for all its employees, the company said in a news release Wednesday.

A spokesperson for the Woonsocket-based company said the wage increases will be incremental, starting in August 2021 until the pharmacy's minimum wage hits $15 an hour in July 2022. About 65 percent of the company's employees are already paid at least $15 and hour, the company added.

"Attracting and retaining top talent across our businesses is critical as we continue to redefine what it means to meet people's health needs," CVS CEO Karen Lynch said in a statement. "These wage increases will have a meaningful impact on our colleagues and their families while helping the communities we serve prosper."

A company spokesperson said moving to $15 an hour will mark a more than 60 percent increase in CVS Health's minimum enterprise hourly wage over a four-year period. The company said the new wage structure also includes wage increases and high starting rates for pharmacy technicians, call center representatives and other roles.

"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,"said Laurie Havanec, the company's health chief people officer. "Our track record on wages aligns with the evolving needs and expectations of CVS Health colleagues in customer-facing roles."

In addition to increasing hourly wages, the company said its eliminated requiring a high school diploma or GED for most entry-level positions and will get rid of its GPA requirement for university recruitment.