Walmart is now giving out stock grants to store managers as part of compensation packages. According to The Hill, the country's largest retail store announced it on Monday.

The latest announcement came following a salary increase earlier this month.

Walmart Store Managers Can See Stock Grants of up to $20,000

Walmart store managers are now eligible for grants of up to $20,000 in company stock every year for the largest stores, while smaller store managers can see grants of $15,000 or $10,000. 

Walmart already raised store managers' wages by an average of 9 percent earlier this month, bringing the annual salary to $128,000. The company also expanded bonus compensation to as high as 200 percent of the wage to discourage turnover in key managerial positions.

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Walmart Stock Skyrocketed in Recent Years

According to The Hill, Walmart stock has skyrocketed in recent years, jumping by 75 percent in the past five years. Earlier this month, Walmart executive vice president Cedric Clark described the managers' expanded compensation as an "investment."

"We see an investment in you as an investment in our culture, our core values and in the day-to-day experience of every associate in every store... Investing in you is an investment in our future," Clark said in a statement.

According to Walmart, the company has more than 10,000 stores in the US and over 1.6 million employees, making it the country's single largest private employer.

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