General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTwenty dollars and eighty nine cents
That is the average hourly wage of Costco employees.
85% of them participate in the company's health plan.
They labor turnover is an astonishingly low 5% nationally.
Their sale prices represent only a 15% mark-up over cost.
They are very profitable.
They just did a segment on the CBS morning show about the company, holding it up as an example of a well run company that gets it profit by keeping its employees loyal, happy, and pro company.
In_The_Wind
(72,300 posts)aggiesal
(8,922 posts)I pass 5 Costco's and 3 with gas stations.
1 Sam's Club (which I've never been in)
My daughter counted them once and was amazed
at how many Costco's there were.
Hissyspit
(45,788 posts)emmadoggy
(2,142 posts)chervilant
(8,267 posts)to support such a business model, where employees are respected and well-paid.
Plucketeer
(12,882 posts)that the folks working there are confident and content in their jobs. Further, I feel good about the savings I get in shopping there as well.
wercal
(1,370 posts)Orrex
(63,220 posts)Not trying to be petty, but if they start at more than $15/hour locally, then I have a bunch of friends who might be submitting applications.
Stinky The Clown
(67,817 posts)I bet the google machine knows.
jtuck004
(15,882 posts)after that.
That's roughly what I recall from the worker I talked with...
hootinholler
(26,449 posts)It took my daughter about a year after working a holiday season.
malaise
(269,157 posts)It's just common cents.
Earth_First
(14,910 posts)It's less physical labor than what I do now (landscaping) equal pay to start (no loss of wages to switch jobs) and the potential for healthcare (currently have none) and advancement (currently topped out) are all reasons beyond the why Costco may be a reason to jump ship...
daleanime
(17,796 posts)I'll be up once or twice a month.
MattBaggins
(7,904 posts)mountain grammy
(26,644 posts)When, for a second, I though Rmoney would win the presidency, I told my husband we were leaving the country. He said "ok, as long as there's a Costco where we're going."
Found one in Halifax, Nova Scotia, my first choice.
Aviation Pro
(12,181 posts)....look at an average employee at Costco (not the sweet, senior ladies handing out freebies); note their level of physical fitness, in the Denver area stores nearly every one looks like they could run a marathon, do a half-Ironman and join a Tough Mudder all in one day.
I think Costco has a pretty well-defined selection process that allows them to choose the best applicants based on the demands of the job.
HubertHeaver
(2,522 posts)Survive the first 10 weeks, you will be in great physical condition.
intheflow
(28,497 posts)Almost every store in the Denver area has at least several employees who look like they could run marathons.
DirtyDawg
(802 posts)...I tried to tell my company's leaders that pride and loyalty - both ways - was the key to delivering the 'Spirit of Service' that we claimed we embodied...but in the end 'Shareholder Value' became the mantra, and along with it quarterly EPS and its concomitant short-term thinking and decisions, turned it all to shit. Thank goodness Costco seems to have remembered it.
itsrobert
(14,157 posts)with Pepsi products they are even better.
aggiesal
(8,922 posts)when are they going to have the
free wine samples?
Angelonthesidelines
(70 posts)$20/hr x 40 hrs/week x 50 weeks/year = $40K a tidy sum for many Americans who wish they could make more than $25K.
thesquanderer
(11,990 posts)At 15% markup, that's about as much profit as each member spending an extra $400 a year at the store. It's a big part of their profit, and prevents an apples-to-apples comparison of markups with other stores that don't charge annual fees.
Stinky The Clown
(67,817 posts)I forgot to mention that earlier.
dbackjon
(6,578 posts)Costco fortunately carries a number of my favorite toiletry and OTC medicine brands. Savings on those alone = net savings for me, including the yearly fee.
Heck, if you take Zyrtec, you will save more than $55 just buying their generic $365 tablets for $16
aquart
(69,014 posts)An EXTRA $400? What do you mean "extra"?
thesquanderer
(11,990 posts)In some cases retail markup can be 100% (double cost) or more. 15% is not a high markup.
And by "extra" I mean that, if Costco did not have their $55 fee, each member would have to spend about $400 more in purchases over the year for Costco to instead generate that $55 additional revenue per member from sales alone.
Operating on a 15% markup basis, a $400 sale generates about $52 of profit. So if Costco had no membership fee, each member would have to spend about $400 more in the store each year for Costco to have the same profit it has now.
AikidoSoul
(2,150 posts)purchase total at the end of the year. Our check will be for about $94 projected based on what we've spent as an average per month thus far which means we'll only have to pay about $16.00.
I just got off the phone with COSTCO's administrative office and spoke to a 52 year old woman who has worked there for over ten years. She said she LOVES COSTCO because "they really take good care of their employees." She said she is a cancer survivor and COSTCO's health insurance paid for her treatments. She said they let her take a year off to recover. She says she doesn't not of any other company that does that for its employees.:
I love COSTCO!
loveya:
mopinko
(70,197 posts)now that they are selling gas.
Triana
(22,666 posts)Auntie Bush
(17,528 posts)Their CEO is not a greedy pig like most are.
maddezmom
(135,060 posts)I hadn't thought about shopping here since last time I looked the closest one was an hour away. Houston hit the website and there is one 16 miles from my house. Will be joining once again!
Fantastic Anarchist
(7,309 posts)Thanks for the post, Stinky.
sulphurdunn
(6,891 posts)WHEN CRABS ROAR
(3,813 posts)the higher wage a person is paid the better off the economy does, more goods and services are purchased, more employment created.
I am old enough to remember the fifties, lots of union jobs and many one income families.
Laelth
(32,017 posts)Proves, once again, that business-owners who treat their employees well benefit us all (including themselves, a point they seem to forget).
-Laelth
world wide wally
(21,752 posts)hired there?
badtoworse
(5,957 posts)Javaman
(62,532 posts)uponit7771
(90,356 posts)...unless the CVD levels take NO salary how are they affording to pay a fully burdened 20usd an hour avg
Iliyah
(25,111 posts)to shop. Refuse to step into a Walmart tho.