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- Apr 5, 2009
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Most Costco workers have health insurance through Costco, and Costco paid their typical worker around $45,000 in 2011. Walmart-owned Sam's Club OTOH, pays its sales associates an average of $17,486 per year but-----but Costco has found that it's a lot more profitable in the long run to minimize employee turnover, maximize employee productivity, keep their employees healthy and-----and turn their employees into better consumers.
Win-win-win, Costco wins, Costco employees win, money circulates thru the economy/economy wins.
Costco CEO: Raise The Minimum Wage To More Than $10 Per Hour
President Barack Obama wants to raise the federal minimum wage to $9 per hour. And the CEO of one of America's largest retailers says such a move would be good for workers and businesses alike. In fact, he says raise it even more.
On Tuesday, Costco CEO and President Craig Jelinek came out in support of the Fair Minimum Wage Act of 2013, which aims to raise the federal minimum wage to $10.10 per hour, then adjust it after that for inflation.
"At Costco, we know that paying employees good wages makes good sense for business," Jelinek said in a statement. "We pay a starting hourly wage of $11.50 in all states where we do business, and we are still able to keep our overhead costs low."
"An important reason for the success of Costcos business model is the attraction and retention of great employees," Jelinek added. "Instead of minimizing wages, we know it's a lot more profitable in the long term to minimize employee turnover and maximize employee productivity, commitment and loyalty. We support efforts to increase the federal minimum wage."
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Most Costco workers have health insurance through Costco, and Costco paid their typical worker around $45,000 in 2011. Walmart-owned Sam's Club OTOH, pays its sales associates an average of $17,486 per year but-----but Costco has found that it's a lot more profitable in the long run to minimize employee turnover, maximize employee productivity, keep their employees healthy and-----and turn their employees into better consumers.
Win-win-win, Costco wins, Costco employees win, money circulates thru the economy/economy wins.
Costco CEO: Raise The Minimum Wage To More Than $10 Per Hour
President Barack Obama wants to raise the federal minimum wage to $9 per hour. And the CEO of one of America's largest retailers says such a move would be good for workers and businesses alike. In fact, he says raise it even more.
On Tuesday, Costco CEO and President Craig Jelinek came out in support of the Fair Minimum Wage Act of 2013, which aims to raise the federal minimum wage to $10.10 per hour, then adjust it after that for inflation.
"At Costco, we know that paying employees good wages makes good sense for business," Jelinek said in a statement. "We pay a starting hourly wage of $11.50 in all states where we do business, and we are still able to keep our overhead costs low."
"An important reason for the success of Costcos business model is the attraction and retention of great employees," Jelinek added. "Instead of minimizing wages, we know it's a lot more profitable in the long term to minimize employee turnover and maximize employee productivity, commitment and loyalty. We support efforts to increase the federal minimum wage."
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