Costco Is About To Raise Its Minimum Wage To $16 An Hour
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By Felix Behr/Feb. 25, 2021 3:38 pm EST
“I want to note this isn’t altruism,” Jelinek said, per NPR. “At Costco we know that paying employees good wages … makes sense for our business and constitutes a significant competitive advantage for us. It helps us in the long run by minimizing turnover and maximizing employee productivity.” It is further helped by the fact that most of their 180,000 employees already make more than $25 per hour.
Costco’s higher wages may push other companies to change
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Costco’s other benefits included affordable health insurance, a 401k, and free membership. Moreover, another employee told Business Insider that Costco allowed them to transfer stores when they moved between states. For these reasons and the wage on which one can actually live, it is little wonder that employees actively choose to stay with Costco for years.
