What Do Container Store, Costco, and Whole Foods Have in Common? (Besides Their Success)

While the national debate about the minimum wage still rages (see 1) — and many retailers oppose any increase, some retail chains have gained a competitive edge through higher wages. They believe that happy employees mean happy customers. Three such retailers are Container Store, Costco, and Whole Foods.
As reported by Jolie Lee for USA Today:
“Container Store employees make on average nearly $50,000 a year, CEO Kip Tindell says. That’s more than double the $23,690 average national salary ($11.39 per hour) of a retail sales worker, according to 2013 data from the Bureau of Labor Statistics. Even by paying employees a higher salary, the Container Store is able to make money,Tindell told Business Insider. He says that he believes a great employee is three times more productive than just a good employee. ‘You can pay them twice as much and still save, since you get three times the productivity at two times the cost,’ Tindell, who is also the incoming chairman of the National Retail Federation, said in the interview.”
“Costco employees start at $11.50 per hour and make $21 per hour on average, well above the national average. In 2013, Whole Foods paid its employees $18.89 per hour or $39,289 a year.”
 Click the image to read more.

 

Photo: Richard Drew, AP

 

This entry was posted in Career Useful Information, Careers in Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business and tagged , , , , , , , , , , , , , . Bookmark the permalink.

One Response to What Do Container Store, Costco, and Whole Foods Have in Common? (Besides Their Success)

  1. Pingback: What Do Container Store, Costco, and Whole Food...

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s