Costco's Employee Benefit Satisfaction Ranks Higher than Silicon Valley Companies


Thu. May 22nd, 2014 - by Christofer Oberst

<p>Costco’s employees are <B>more satisfied with benefits and pay than some of the top tech companies in Silicon Valley</b>. Seriously?! That’s according to a new survey released recently by jobs site Glassdoor, who ranked the top 25 companies for compensation and benefits in 2014. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p> <B>Costco beat Facebook and Microsoft</b> and took the number two position, but slightly lost the number one spot to Google, who won by fractions of a point. <B>Out of all the twenty-five companies on the list, Costco was the only retailer.</b> The survey was based on workplace insights shared by the employees of each company themselves, according to Glassdoor. For the full list of companies, check out the link below.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.glassdoor.com/Top-Companies-for-Compensation-and-Benefits-LST_KQ0,43.htm" target="_new"> Top 25 Companies for Compensation &amp; Benefits in 2014</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><img src="https://cdn.andnowuknow.com/legacyWriterImages/costco052314bdy.jpg" alt="cropped_image_052214" /></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p> It’s not much of a surprise that Costco would rank so high on this particular list. Craig Jelinek, Costco’s CEO, believes that the company’s overall success is thanks to its <B>happier work environment and company-sponsored health insurance</b>.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p> “I just think people need to make a living wage with health benefits,” said Jelinek. “It also puts more money back into the economy and creates a healthier country. It’s really that simple.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p> On average, a Costco cashier makes $15.20 an hour. Comparatively, a cashier at Sam’s Club makes $9.37 an hour on average, while at Target, they make approximately $8.18 an hour, according to the Huffington Post.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p> Interestingly, <B>Costco’s turnover rate</b> is 5% among employees who have been there for over a year, and its less than 1% among the executive ranks. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p> “As long as you continue to take care of the customer, take care of employees, and keep your expenses in line, good things are going to happen to you,” said Jelinek.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p> Can Costco eventually gain the lead against Google? So long as Costco keeps its employees happy, that may seem to be the case. For now, we’ll just have to wait and see. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.costco.com" target="_new"> Costco </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">