3 ms·
Publix has been outperforming the competition on a lot of metrics treating and paying employees well. The employees also own a good chunk of the company getting
by nickpsecurity 8y ago
Publix has been outperforming the competition on a lot of metrics treating and paying employees well. The employees also own a good chunk of the company getting bonuses based on its profit. The founding family is still rich. Customer satisfaction rate highest in industry. Everyone wins with their model.
https://www.forbes.com/sites/briansolomon/2013/07/24/the-wal-mart-slayer-how-publixs-people-first-culture-is-winning-the-grocer-war/#169ed345880d https://www.forbes.com/sites/briansolomon/2013/07/24/the-wal...
Costco also invests in its workers who perform really well. An executive actually said once that they decided not to advertise specifically to pay workers more which would create incredible service which would spread company word of mouth. They got around $100 billion a year in revenues that way.
https://www.investopedia.com/stock-analysis/040915/3-reasons-costco-great-company-cost.aspx https://www.investopedia.com/stock-analysis/040915/3-reasons...
So, companies like Walmart lost $100 billion / yr to Costco and $35 billion / yr to Publix when I looked at the numbers. Plus whatever they lost other years. Walmart finally learns having workers that care a tiny bit about the company might be good for the bottom line. Costly lesson. Also shows the benefit of dominance: they can literally throw away billions in potential sales from obvious strategies with no negative effects on their executives. ;)