This is how Costco keeps employees happy

This is how Costco keeps its employees happy

People love to shop and work at Costco. A glimpse at sites like glass door Paints a clear picture of the company’s culture. It has listed Costco as one of the best places to work in 10 of the past 11 years, and has thousands of comments from current employees explaining why. Craig Jelinek has been voted among the top CEOs for the past seven years. While the retail industry sees a national turnover of 60%, Costco had just 6% last year. So, the burning question for many retailers is how do they do it? Based on employee responses, here are 7 ways Costco makes its employees happy.

7 ways Costco makes employees happy

1. High wages

High wages are the most common reason for its employees to be satisfied with their jobs. Costco values ​​its employees and compensates them well for their time and commitment to the company. Not only does it offer great starting wages, but it has also been on the cutting edge of minimum wage increases. In 2021 alone, it raised the minimum wage twice to keep pace with rising costs and inflation.

Base salary employees now start at $17 an hour. However, there are plenty of opportunities to earn promotions with a higher salary. Food managers earn more than $50 an hour. But pharmacists are the ones who get the most, earning an average salary of $138,000 per year.

2. Excellent benefits

In addition to competitive pay, Costco also offers excellent benefits. Employees are guaranteed working hours and overtime pay on Sundays (time and half). They also receive paid time off (including floating holiday) and paid time off (PTO) based on seniority. People start with 1 week during their first year, but can earn up to 5 weeks after 15 years in business.

You can’t overlook the 401(k) matching program, either. Costco will match your contributions with an account of up to $500. While it may not seem like much, your earnings can increase exponentially over time.

And employees are eligible for health benefits after 180 days, as long as they work 24 hours a week. Their health insurance offers great coverage as well as affordable dental vision and plans. Best of all, employees have the added benefit of choosing their own service provider.

Compared to other employers, Costco’s benefits package far outstrips the competition.

3. Free perks and offers

Another way Costco keeps its employees happy is by offering other free perks and offers. For example, each employee receives four free memberships to share with family and friends. They also get a free turkey on Thanksgiving.

Costco employees can also shop after hours, avoiding crowds and lines. In addition, they also get a first pick of newly arrived stock. While this won’t make a difference to your regular shopping, it can give you a huge advantage during the holidays.

4. Family work culture

After reading many of the reviews, it was clear that Costco has a work culture that is very different from your average retailer. Employees constantly say they feel part of a family committed to the same goals. This shared work ethic is great for building morale and camaraderie among team members.

After digging a little deeper, people attribute the positive work environment to two factors. The first is that Costco treats its employees as people, not machines. Therefore, they offer real benefits that allow employees to balance their work and personal life.

The second is that its management remains in tune with the needs of its employees. Based on internal statistics, 76% of Costco managers started in an entry-level position. This means that they not only understand the jobs they oversee but also know their employees on an individual level. In many cases, they may have worked in tandem. Managers who stay in touch with day-to-day operations can roll up their sleeves and help out when things get busy. They have a vested interest in protecting their employees and ensuring their happiness.

5. Opportunities for advancement

Furthermore, Costco supports ambitious employees by providing many opportunities for advancement. It encourages promotion from within, allowing vertical and horizontal movement within the company. Additionally, they offer greater flexibility since positions can be easily transferred with nationwide locations.

6. Feeling of security

Working for a company that you feel cares about gives you a sense of security that you won’t find in many places. Instead of considering employees to be replaceable, it listens to its employees and responds to their needs. Pay increases provide an excellent example of how Costco can adapt to support its employees rather than focusing only on the bottom line.

When emergencies or periods of instability arise, Costco is more willing to work with its employees than to hire new employees. Knowing that your job is not at risk when dealing with a personal crisis relieves stress and deepens their commitment to the company.

7. General job satisfaction

When you look for the primary reason why Costco employees are happy, it comes down to their overall job satisfaction.

Its staff constantly says they enjoy the benefits and the friendly atmosphere. It’s a great environment for those who like to work with people, and most employees seem to really like the people they work with. Both lead to increased job satisfaction and lower turnover rates. When people are satisfied, they do not feel the need to explore other career options.

Costco understands that its employees are real people. She values ​​each person and tries to understand what they need to be happy. For some, it’s a pay and benefits package. Other people appreciate the respect and independence that Costco gives them to do the job they are assigned to do. For others, it is a reward and recognition for a job well done. Whatever their personal motives, everyone can agree that Costco is among the best at rewarding its employees for their services.

Read more

Go back to what you love! is the most trusted cashback site on the web. Just ParticipationClick, shop, and get full cashback!

Source link

Related Posts

Leave a Reply

Your email address will not be published.