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Costco has known about this for years. They've consistently resisted shareholder demands to reduce payroll spend while paying nearly double industry average. T
by abandonliberty 12y ago
Costco has known about this for years. They've consistently resisted shareholder demands to reduce payroll spend while paying nearly double industry average.
The result? A 5% turnover rate after a year, not to mention happier and better employees. Pay attention to their name tags next time you visit, they list their starting year.
This is the first article I could find on Google, there's a lot more out there.
http://www.businessinsider.com/costco-pays-retail-employees-20-an-hour-2014-10 http://www.businessinsider.com/costco-pays-retail-employees-...
- scarmig 12y agoFor point of comparison, from the article: Turnover in the retail sector has been steadily rising and now stands 5 percent a month.
- AjithAntony 12y agoI think the costco article is saying 5%/yr, and the original article is saying saying that walmart's 60% turnover is consistent with retail average of 5%/mo
- mooreds 12y agoHere's an interesting article on the right way to measure turnover: http://www.ere.net/2003/10/06/the-right-way-to-measure-turnover/ http://www.ere.net/2003/10/06/the-right-way-to-measure-turno... Tl;dr: provide context.