Costco CEO Craig Jelinek on paying a living wage

 “I just think people need to make a living wage with health benefits.  It also puts more money back into the economy and creates a healthier country. It’s really that simple.”

Costco pays it’s workers far more than most of their competitors, offers employees opportunities for promotion and enjoys markedly lower worker turnover and far higher sales per employee than their low-road counterparts. Sales per employee at Costco are nearly double that at Sam’s Club.

Recent quarterly reports show Costco saw an 8% increase in year-on-year
sales while WalMart saw an anemic 1.2%.  You do the math… 

At the end of the day, you get what you pay for. Costco pays their employees a livable wage and gets sales per employee at double what Walmart subsidiary Sam’s Club gets from their employees who work for lousy pay.

Maybe the time has come for Wal-Mart to take a lesson from Costco and consider the potential upside of treating employees like human beings.

(via Forbes)