Long before we opened our first Target store in suburban Minneapolis, our company was founded with a deeply held belief that the enduring success of our business relies on the strength and vitality of the communities we serve.
Fifty-six years later, not only do we still believe in that essential connection between business and community, we have broadened our philosophy on corporate responsibility.
Today, our team – almost 350,000 strong – is rallied around a single, unifying aspiration: to help all families discover joy in everyday life.
Inspired by that purpose, we are building on our legacy of philanthropy and volunteerism. We see opportunity to use every dimension of our business to make a positive impact. That means leveraging our size, scale and core strengths to create value for our teams, our guests, our communities and investors, and the planet we share.
This work is about more than doing what is right by our stakeholders. It is about using our purpose to guide every choice and every critical business decision we make. And it represents a significant step change in the way we are prioritizing our investments and deploying our resources. We have organized our corporate responsibility strategy around four key themes: empowering our teams, serving our guests, fostering our communities and designing for our future.
Throughout this report, you will see many examples of this work coming to life all across our company – from how we are challenging our teams and vendors to develop cleaner, healthier products to the ways we are building and operating some of the most sustainable buildings in retail.
We will share how we are championing diversity and inclusion across our workforce and throughout our business, positioning our stores as hubs for community and creating new spaces to bring kids and families together.
You will see new policy positions on chemicals and water use, as well as how we are finding new ways to support a more circular economy.
And, finally, you will see where we think we can drive immediate impact by investing in our team.
Last fall, we took a leadership position on wage – moving to $11 an hour for a starting wage and committing to $15 by 2020. We raised our starting wage again this spring, to $12. And we are investing in new training opportunities, at every level of the company, so that our team members can develop new skills and deeper expertise, become better leaders and ultimately build rewarding careers at Target and beyond.
But paying more is only part of the equation. Pay must also be equitable. We have a long-standing practice of paying our team members equitably regardless of gender, race or ethnicity. And we regularly audit to ensure we uphold that commitment, because treating all team members fairly is a non-negotiable.
While our corporate responsibility ambitions are global in scale and cut across multiple sectors and constituencies, we are approaching this work with a great sense of humility. Driving meaningful results and change takes time, focus, patience and partnership.
Said another way, this work is a journey. And while we have a long way to go, I am proud of our progress. Every action we take that strengthens the health and vitality of the communities where we live is a step forward in building a better, brighter future for Target and the people we serve.
Brian C. Cornell
Chairman & CEO, Target