Despite all of the gloomy headlines about the retail industry, it turns out that one of America's most successful retailers is also its favorite place to work.
According to a new report from the employment website Indeed, Costco beats employers such as Apple, Starbucks and Intel for paying a living wage and providing great benefits and initiatives that show how leaders genuinely care about employee well-being.
Indeed's data science team evaluated its database of more than 18 million employer reviews, crunched the numbers and identified which companies rate highest on the attribute of compensation and benefits.
Indeed says it compiled the list by including companies with at least 600 reviews between January 2016 – January 2018. These companies are the most highly rated on compensation and benefits by users who were either employed by the company at the time of review or was employed there within the past three years.
Among all U.S. employers, Costco ranked No. 1 on the list. H-E-B ranked 7th, Aldi ranked 8th and Publix ranked 11th.
Costco's entry on the Indeed list looks like this:
So how did a warehouse chain beat out the top tech companies when it comes to benefits and salary packages? To start, the company pays well above the typical salary that other retail companies pay, even for entry-level workers.
“They have a graduated wage program that’s based purely on total hours worked. Show up, do your job, and your pay goes up on its own,” says one employee.
When it comes to insurance and other benefits, another employee describes the company as “second to none.” In general, employee reviews praise Costco’s family-based philosophy, great treatment of its employees and concern for their well-being.
One employee sums it up well: “Costco believes that employees are the most important assets in the company.”
For a closer look at what the very best rated are doing right, and what employees are saying about them, click here for Indeed's list.