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In an effort to retain the best workers, Costco hikes min wages beyond Amazon or Target
Posted on 2/26/21 at 9:40 am
Posted on 2/26/21 at 9:40 am
quote:
Costco lifts minimum wage above Amazon or Target to $16 per hour
LINK
Costco Wholesale Corp is raising the minimum wage for its hourly staff to $16 from next week, a dollar more than what its competitors Amazon.com Inc and Target Corp pay per hour.
The membership-only retailer’s move comes as U.S. President Joe Biden plans to raise the minimum wage to $15 per hour by 2025, and a week after rival Walmart Inc raised its hourly wage to an average of $15.
Costco's Chief Executive Officer Craig Jelinek made the announcement at a U.S. Senate Budget Committee hearing on worker wages at large companies. (bit.ly/3r6YwoQ)
12
Posted on 2/26/21 at 9:41 am to goofball
it's almost like this is what the free market is supposed to do.
Posted on 2/26/21 at 9:42 am to 3nOut
Who would have thought paying your best workers more would help retain them.
Posted on 2/26/21 at 9:42 am to goofball
Pfft.
Buccees already pays their employees more than that.
Buccees already pays their employees more than that.
Posted on 2/26/21 at 9:42 am to goofball
Raising your internal minimum wage attracts better workers. Artificially moving the wage curve vertical does not increase the quality of worker.
Very, very simple economic concept that I have no idea how people don't understand.
Very, very simple economic concept that I have no idea how people don't understand.
Posted on 2/26/21 at 9:43 am to 3nOut
quote:
it's almost like this is what the free market is supposed to do.
true, can't believe $1 will sway too many folks, but I could be wrong
Posted on 2/26/21 at 9:44 am to goofball
Hooray!!!!! We're going to have the BEST worst/least skilled employees around!!!
Why not offer MORE than minimum wage to attract BETTER employees rather than artificially inflate the wages of your WORST employees?
Why not offer MORE than minimum wage to attract BETTER employees rather than artificially inflate the wages of your WORST employees?
Posted on 2/26/21 at 9:44 am to goofball
If I was younger looking for a job, I'd probably have worked for Costco. They treat their employees decent and they've always paid them pretty well compared to other retailers.
Posted on 2/26/21 at 9:45 am to 777Tiger
Well when you're making $15/hr, that extra $1 is nearly a 7% raise. I think a lot of people would appreciate a 7% raise.
Posted on 2/26/21 at 9:45 am to Cdawg
quote:
Who would have thought paying your best workers more would help retain them.
Posted on 2/26/21 at 9:45 am to goofball
Costco is one of the most well-run companies in the country. CEO is the man.
Posted on 2/26/21 at 9:46 am to MorbidTheClown
This is how minimum wage should be set. Not by some suit in DC.
Posted on 2/26/21 at 9:46 am to goofball
How about using this logic for waiters/waitresses and put the service cost in the food so everyone pays the same?
Posted on 2/26/21 at 9:47 am to 3nOut
Funny how it states Walmart raised its hourly wage average to $15. Wonder which big wig went off of salary to hourly making $500+
Posted on 2/26/21 at 9:48 am to Mingo Was His NameO
quote:
Very, very simple economic concept that I have no idea how people don't understand.
Well, that concept uses logic and reasoning.
This is 2021. There is no place for logic and reasoning when you have emotions to dictate your decision making process!
Posted on 2/26/21 at 9:48 am to threeputtforbogie
quote:
Well when you're making $15/hr, that extra $1 is nearly a 7% raise. I think a lot of people would appreciate a 7% raise.
I get that, but $160/mo. before taxes?
Posted on 2/26/21 at 9:50 am to 777Tiger
quote:
I get that, but $160/mo. before taxes?
$1/hour is $2k a year for a full time job, and if you are making $15/hour you aren't really paying taxes. 2k a year for people living paycheck to paycheck is a big deal.
Posted on 2/26/21 at 9:54 am to BluegrassBelle
quote:
If I was younger looking for a job, I'd probably have worked for Costco.
I may work for them after I retire. I will want something to do where I don't sit at a desk all the time.
Posted on 2/26/21 at 9:54 am to 777Tiger
quote:
true, can't believe $1 will sway too many folks, but I could be wrong
i don't know that it's the $1, it's that so many corporations are going to $15 an hour on their own accord even though there's no way that it's going to pass the senate.
there's obviously repercussions. mom and pop stores probably can't hang with the $15 and probably will lose some employees to that. that being said, i work for a mom and pop type business and i could go to a fortune 500 in the same field and make more money, but i don't want to deal with corporate bullshite, so i don't. i'm working with a real salary, $15 vs $16 may not have that same influence for somebody making that much.
This post was edited on 2/26/21 at 9:56 am
Posted on 2/26/21 at 9:58 am to goofball
Costco minimum wage was 15...
2 years ago
2 years ago
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