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After increasing its starting wage to $15 for all workers a few years ago, Target now plans to expand the range of its starting wage to up to $24 an hour. 

The starting wage at the Minneapolis-based retailer will range from $15-$24 an hour, with the exact starting wage depending on the job and the local market, Target said Monday

Wages will be set based on "industry benchmarking, local wage data and more" but Target did not say where exactly the starting wages would be the highest. This new minimum wage will apply to all hourly workers in Target stores, supply chain facilities and headquarters locations.

Target also plans to expand health care benefits for employees and their families starting in April. Hourly workers who work an average of 25 hours a week will be eligible to enroll in Target's medical plan (previously, it was 30 hours a week). Workers will also be able to enroll in the medical plans, which have "enhanced benefits," three to nine months sooner, depending on their position, the release said. 

“We want all team members to be better off for working at Target, and years of investments in our culture of care, meaningful pay, expanded health care benefits and opportunities for growth have been essential to helping our team members build rewarding careers," said Melissa Kremer, chief human resources officer at Target. 

Target says it will spend about $300 million more over the next year to pay workers more and expand their health care benefits as part of its "Target Forward" strategy. 

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In 2017, Target was among the first major retailers to announce it would be increasing its minimum wage to $15 an hour by 2020. And now many of Target's competitors have done the same — or have paid them more. 

Target CEO Brian Cornell told The Associated Press, "The market has changed. We want to continue to have an industry-leading position."

Target's announcement to pay workers positions the retailer to be a "wage leader in every market where it operates," the news release said. It comes when companies in Minnesota and across the U.S. are competing for workers amid a worker shortage

This has helped drive up wages. And the Federal Reserve Bank of Minneapolis says a survey found 58% of workers want better pay. However, higher wages are the "bare minimum" employers need to offer to compete for workers, the Minneapolis Fed said. People are also looking for health benefits and other benefits, like hybrid working schedules, and the opportunity to advance their career.

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