CVS Health hiking pay, cuts education requirement for workers

CVS Health Corp. is boosting wages and slashing education requirements for entry-level jobs as retailers and restaurants continue to be caught up in the labor crunch.

The pharmacy chain is raising its minimum hourly wage to $15 an hour, as of July 2022, with incremental increases to the hourly rates starting this month. CVS said that approximately 65% of its hourly employees already make more than $15 an hour.

As part of its new wage structure, the company said some roles — including pharmacy technicians and call center representatives — will also get an increase, even though they already have higher starting rates.

In addition to boosting wages, CVS recently eliminated the high school diploma or GED requirement for most entry-level roles. This year, it plans to eliminate the GPA requirement for university recruitment.

The company noted that its efforts to expand its job opportunities continue, including through an apprenticeship program, which it said has placed thousands in retail pharmacy and management career tracks, with a focus on advancement. Last week, the company opened its newest Workforce Innovation and Talent Cent in Pittsburgh, which provides employment services and training to underserved populations through partnerships with faith-based and community organizations. An additional location opened in Philadelphia this week.

“Attracting and retaining top talent across our businesses is critical as we continue to redefine what it means to meet people’s health needs,” said CVS Health president and CEO Karen S. Lynch.