Hobby Lobby bucks trend, gives employees another raise
HOLLAND — In a tough economy that has forced many employers to cut workers’ wages, Hobby Lobby continues to buck a trend.
For the second time in a year, the chain of craft and decor stores handed out raises to more than 9,600 of its employees Thursday.
The retailer is raising its minimum wage from $10 to $11 an hour for full-time employees and to $8 an hour for part-time workers.
“I wasn’t expecting it at all, just like last year,” said Danielle Syrek, who oversees the home furnishings department at the Kentwood Hobby Lobby store, at 4250 28th St. SE.
Her hourly wage was bumped to $11. That’s on top of the 50-cent increase she got last year.
The extra $40 a week will go toward saving for a new car, she said.
Exactly one year ago, the retailer announced wage increases, which boosted the wages of some hourly workers to as much as $13 an hour. For some employees, the pay hike boosted their hourly wage by as much as $2. The retailer also raised its minimum wage to $10, increasing the pay of more than 6,900 employees. Some saw their paychecks rise by nearly $600 per month.
The retailer’s new minimum wage of $11 is 52 percent above the national minimum wage of $7.25 an hour. In Michigan, the minimum wage is slightly higher, at $7.40 an hour.
More than 40 percent of the 30 workers in the Kentwood store will get raises, said manager Doug Sinderson.
The fiscal year for the company wrapped up with some good news, although Sinderson said he didn’t know the percentage of revenue growth.
“We had a better year than we had last year, and that year was better than the one before,” said Sinderson. “We haven’t felt the economic downturn like other retailers.”
David Green, the company’s CEO and founder, said he wanted to reward his employees for their hard work and share with them the company’s success.
“They are essential to the continued growth of Hobby Lobby and they deserve to be recognized for their contributions,” Green said.
The privately-held chain, based in Oklahoma City, has more than 435 arts and crafts stores in 35 states. The company plans to open another 25 stores this year, creating another 1,000 jobs.
There are 16 in Michigan, with the largest concentration of stores in the Grand Rapids area. There are five stores here: Holland, Grandville, Kentwood, Norton Shores and Walker.
The boost also places the chain’s lowest rate more than 12 percent above the average retail wage in the Grand Rapids area of $9.80 an hour, according to the U.S. Bureau of Labor Statistics.
“We are very fortunate to be able to increase the minimum pay for our hourly employees for the second year in a row,” Green said.
Green credits his success in growing his 38-year-old chain to following biblical principles, such as closing the stores on Sunday.
Sharing his company’s fortune with its employees is another example of staying faithful to those teachings, he says.
“We believe the success of Hobby Lobby is directly attributable to our outstanding employees and our strong corporate values, which are based on biblical principles, including integrity, service to others and giving back to those in need,” Green said.
source: mlive.com
click here for more salary information
In: Business Stories · Tagged with: 50 Cent, Ceo, David Green, Economic Downturn, Fiscal Year, Full Time, Hobby Lobby, Holland, Home Furnishings, Hourly Wage, National Minimum Wage, New Car, Part Time, Paychecks, Second Time, Syrek, Time Employees, Time Workers, Wage Increases, Wages
