Tony Schwartz of the Energy Project, wrote an op-ed piece, “Why You Hate Work” on employee engagement on The New York Times in May last year that still is quite interesting
“A truly human-centered organization puts its people first — even above customers — because it recognizes that they are the key to creating long-term value. Costco, for example, pays its average worker $20.89 an hour, Businessweek reported last year, about 65 percent more than Walmart, which owns its biggest competitor, Sam’s Club. Over time, Costco’s huge investment in employees — including offering benefits to part-time workers — has proved to be a distinct advantage.
Costco’s employees generate nearly twice the sales of Sam’s Club employees. Costco has about 5 percent turnover among employees who stay at least a year, and the overall rate is far lower than that of Walmart. In turn, the reduced costs of recruiting and training new employees saves Costco several hundred million dollars a year. Between 2003 and 2013, Costco’s stock rose more than 200 percent, compared with about 50 percent for Walmart’s. What will prompt more companies to invest more in their employees?”
Why You Hate Work
“Excessive demands are leading to burnout everywhere.”
[Cross-posted from Facebook on January 24, 2015 at 11:41AM]