Walmart raises its salary for new drivers to $95,000 against $56,000 average.
Amazon announces initiative to assist refugees. Truck drivers can now earn $95,000 at Walmart. Lack of diversity costing US firms. Dubai institutes whistleblowing measures.
Amazon launches employment support programme for refugees
Amazon has launched an employment support programme for refugees, called the Welcome Door programme.
KOMO News says the initiative will provide refugee and humanitarian-based immigrant employees with additional resources and support, as well as reimbursement for Employment Authorization Document fees.
Ofori Agboka, Amazon’s vice president of people experience and tech for operations said, “At Amazon, we have a variety of jobs and welcome all kinds of people, and we’re proud to offer enhanced support for refugees around the world.”
He added that being displaced from your homeland and having to start again somewhere new is challenging and emotional, adding that it is an honour and a privilege to help to make that transition easier.
Walmart will now pay truck drivers $95,000 to mitigate shortage
Walmart announced that it would be raising its starting salary for long haul truck drivers to $95,000(R1,382,060), CNBC reported. In their first year at the company, new drivers can make anywhere between $95,000 (R1,382,060) and $110,000 (R1,600,280). This is compared to the average driver salary of $56,491 (R821,831) a year .
Walmart is in dire need of long-haul truck drivers to deliver goods to stores and also to keep up with an ever-increasing number of online orders from Walmart.com. The company broke a hiring record with 4,500 new drivers added in 2021.
A lack of diversity within American companies comes with a hefty price tag
According to a recent report published by Bank of America (BAC) Global Research, lack of diversity results in $70 trillion in foregone economic output, $23 trillion in US GDP and $172 trillion in lifetime earnings.
“No matter how you measure it, lack of diversity, equity and inclusion (DEI) limits national economies and reduces GDP,” the report reads.
Yahoo Finance reports that for companies, a lack of diversity leads to less innovation, weaker revenue and cash flows, and lower employee retention. As for individuals, a lack of diversity causes detriments to educational outcomes, physical and mental health, lifetime achievement and earnings, and wealth passed down across generations.
Dubai Financial Services Authority introduces whistleblowing regime
The Dubai Financial Services Authority has launched a regulatory regime for whistleblowing that applies to all DFSA-regulated entities operating in or from the Dubai International Financial Centre.
The new measure aims to provide better legal protection for persons who report regulatory concerns, deter wrongdoing, and promote better compliance
According to The National, the regime is the first of its kind to be introduced by a financial service regulator in the UAE and provides enhanced legal protection for persons who report misconduct internally within DFSA-regulated entities or externally to their auditor, the DFSA or a law enforcement agency, the authority said in a statement.
The move aims to improve the whistleblowing culture and increase transparency regarding how regulatory concerns are assessed and handled, and if appropriate, escalated, the statement said.
