(Bloomberg) -- Target Corp. is planning less seasonal hiring than last year while relying more on its existing workforce amid the tight labor market.
The retailer will offer current employees 5 million more hours during the holiday shopping rush, implying a boost to total paychecks of more than $75 million. The goal for seasonal hires is 100,000, Target said in a statement Thursday. That's down from 130,000 last year.
Target's greater dependence on current employees underscores the labor hurdles facing U.S. companies as they struggle to attract and retain workers. On average, hourly Target employees are already working nearly 15% more hours than they were a year ago, the Minneapolis-based retailer said.
“We are offering more hours to team members who want them,” Melissa Kremer, the company's chief human resources officer, said in the statement. “We have worked to provide our team members with more consistent schedules, which means more consistent paychecks and a more consistent way to manage their life.”
Read more: High Quits Rates, Poaching: U.S. Firms Are Plagued by Turnover
Target's plan contrasts with that of a key package-delivery partner, FedEx Corp., which is aiming to increase seasonal hiring to 90,000 workers from 70,000 last year. United Parcel Service Inc. expects no change to its seasonal hiring goal, which will again be about 100,000.
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