The Container Store recently revealed that it pays its workers a median salary of a whopping $50,000 per year; much, much more than what might be expected from a retail company. Most retail chains pay minimum wage or slightly above it, but The Container Store has a unique philosophy that benefits workers. In his new book Uncontainable, CEO Tip Kindell details his decision to pay such high rates, USA Today reports. Kindell claims that having one “great” worker is more valuable than having three good ones, and that by paying his people so highly, he is actually saving money in the long run. He also has a “no layoff” policy, which is unusual in today’s climate. He says that the company has never laid off one employee due to dips in the company’s income, although he will fire people if they are “dishonest” or “not productive.”
Posted on: Sun, 19 Oct 2014 12:45:38 +0000
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