So heartening to read that many retail chains such as Trader Joes, Quiktrip and Costco are giving a living wage and value to even their entry level employees and this is increasing the value of the entire company. I knew this about Trader Joes and Costco, always a delight to know there are more. Some excerpts from the article.... At the upper echelons of the American workforce, salaries have soared. Companies are accustomed to thinking of their highest-level employees as talent, and fighting to hire and reward people who will help grow the company. Now Trader Joes and QuikTrip are proving that lower-level employees can be assets whose skills improve the bottom-line as well. QuikTrip, Trader Joes, and Costco operate on a different model, Ton says. They start with the mentality of seeing employees as assets to be maximized, she says. As a result, their stores boast better operational efficiency and customer service, and those result in better sales. QuikTrip sales per labor hour are two-thirds higher than the average convenience-store chain, Ton found, and sales per square foot are over 50 percent higher. Thanks to Anil Chouhan-PremAnand for sharing... theatlantic/business/archive/2013/03/the-trader-joes-lesson-how-to-pay-a-living-wage-and-still-make-money-in-retail/274322/
Posted on: Mon, 13 Oct 2014 03:23:34 +0000
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