Sam’s Club to raise pay

(CNN)– Sam’s Club is raising pay to incentivize workers to stay at the company.

Sam’s Club is the membership club arm of Walmart.

It will increase its minimum wage from $15 to $16 an hour starting in November.

Sam’s Club will also raise wages for its nearly 100 thousand employees, ranging from 3% to 6%, depending on their tenure.

Sam’s Club’s main competitor Costco, pays among the highest wages in retail with a minimum of $19.50 an hour.