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Another way is how WinCo does it, each employee can become an owner as it is majority employee owned, and it is a very well run place. Yes you can buy stock in
by drawkbox 10y ago
Another way is how WinCo does it, each employee can become an owner as it is majority employee owned, and it is a very well run place. Yes you can buy stock in Wal-mart or Costco and Costco has profit sharing, but there is something about owning a part of the company you work at that helps productivity, responsibility and caring what happens to the company. Personally I like shopping there because I know people there value it and more money is going to the workers.
One example of how this may be better is a lower performing store that is still making a profit may stay open, other larger chains may remove stores and cut lower performing stores even though profit is made. Not a flawless system but owning shares, ownership and being a part of the company in this way makes the best work come out of skilled people.
http://wincofoods.com/about/an-employee-owned-company/ http://wincofoods.com/about/an-employee-owned-company/
- shostack 10y agoHow does the lower performing store work in that sense? Is it separate from the rest in some way? The reason low profit locations are often shut down is because there are often higher profit places to park that capital. So if I'm a shareholder employee of another location or HQ, I might wonder why we're not doing something that will grow the company even more. Of course this is where things like company values and mission statements come into play to ensure everyone is aligned. Not advocating that this is necessarily what I'd do in that situation, just curious how it is handled when it inevitably comes up.