Occupy London Options for this story (Raising wages would mean raising prices, they tell us. But thats not true is it?) Big-box warehouse store Costco is often compared with Walmarts Sams Club. Both stores are places where people go to buy in bulk and save money. But while Walmart employees are striking for higher wages and health care, Costco has some of the happiest employees in the business. Costco pays its employees an average hourly wage of $11.50 to start. After five years, they make $19.50 an hour and get an extra check, a bonus of more than $2,000 every six months, according to Slate. While Wal-Marts Sams Club starts employees at $10 an hour, they make $12.50 after about five years, Slate reported. Costco workers pay a 12 percent out of pocket premium for benefits, while Wal-Mart workers pay 40 percent. This results in lower turnover and more skilled workers. “Instead of minimizing wages, we know it’s a lot more profitable in the long term to minimize employee turnover and maximize employee productivity, commitment and loyalty,” Jelinek said in the statement. Look at people as an investment and hire the best you can possibly afford, Worrell said. Stretch to your limit to keep them excited about coming to work ... then watch as they actually perform. MH
Posted on: Tue, 19 Nov 2013 08:51:17 +0000
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