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WalMart is a good place to work if you're just out of school looking for some temp part-time job. Or if you are retired and looking for some extra cash or for something to do. They hire a lot of people in those categories. Too many. Not a very good long-term business model which they are now (slowly) beginning to realize.
If they paid a bit more (and based on their profits they could) and treated their employees better I do think they could increase their total profits in the long run. Today, they have a miserable (and well earned) reputation. Other places like Costco that have a different philosophy re employees can effectively compete with them. And do.
While Costco pays a bit better that's about where the difference ends. Other than that they and Walmart are pretty much the same. Costco does everything possible to keep you part time, their store management tends to be run like little kingdoms (boy I could tell some stories about them but that's another thread or five) and many don't treat the employees very well either.
If you're old time Costco you're doing well but newbies? Not so much.
While Costco pays a bit better that's about where the difference ends. Other than that they and Walmart are pretty much the same. Costco does everything possible to keep you part time, their store management tends to be run like little kingdoms (boy I could tell some stories about them but that's another thread or five) and many don't treat the employees very well either.
If you're old time Costco you're doing well but newbies? Not so much.
This isn't true of the Costco's near me. FT employees are hired all the time, overtime isn't avoided like the plague, the benefits are identical but Costco is more profitable per employee so profit sharing is higher.
While Costco pays a bit better that's about where the difference ends. Other than that they and Walmart are pretty much the same. Costco does everything possible to keep you part time, their store management tends to be run like little kingdoms (boy I could tell some stories about them but that's another thread or five) and many don't treat the employees very well either.
If you're old time Costco you're doing well but newbies? Not so much.
According to a recent article that I read, the average pay at Costco is $20.89 an hour and $12.67 at WalMart. And more numbers:
Average Pay for Low-Level Managerial Position
Wal-Mart: $44,774 [Glassdoor, assistant store manager]
Costco: $53,956 [Glassdoor, supervisor]
Number Of Employees Receiving Health Insurance Coverage
Wal-Mart: "More than half" of employees. [ Businessweek ]
Costco: 88% of employees. [ Businessweek ]
Costco employee turnover is 17% (6% after one year). Wal-Mart turnover is 44% (the industry average). Looks like Costco is doing more than a bit better.
Did you ever consider that many of those evil investors are retired elderly who invest in stock for their retirement? The laws of supply and demand dictate all markets. If someone comes along with a better model, then it will be used, but you can rest assured, it won't include higher wages for non skilled employees.
Correct and more.
Walmart stock is heavily owned by pensions. If you are a government worker with a government pension - Walmart stock and dividends are a part of your retirement.
Walmart stock is also one of the most owned by actual employees.
If you own a 401K and invest in stock mutual funds - you probably own some Walmart stock. If you own corporate bonds, you might own some Walmart bonds.
Average Pay for Low-Level Managerial Position
Wal-Mart: $44,774 [Glassdoor, assistant store manager]
Costco: $53,956 [Glassdoor, supervisor]
Number Of Employees Receiving Health Insurance Coverage
Wal-Mart: "More than half" of employees. [ Businessweek ]
Costco: 88% of employees. [ Businessweek ]
Costco employee turnover is 17% (6% after one year). Wal-Mart turnover is 44% (the industry average). Looks like Costco is doing more than a bit better.
Old time employees (ten years or more) could be making $20 per hour not the new ones (of course this somewhat depends on the location) as does new hires being placed at full time. Most Costco stores I've been in rarely hire full time to start. Of course most Costco's I've been to across the U.S. don't have dedicated cart chasers like in AZ that are paid very well by the way.
The funny thing is Sam Walton DID care both about his country AND his workers but alas he had to retire and then as we all will he died. It is a public corporation that is responsible to it's shareholders who demand profit levels rise, not stay the same,not go down but always up.
It is said his kids were/are not as devoted to the family atmosphere Sam tried to keep but so goes all large corporations and Wally World is one of the largest (outside the government).
If you and others think this corporation isn't doing what you think it should then buy some shares and go to a stockholder meeting and say so or, start your own company, grow it as large as you want but keep it privately held so YOU call the shots and not those that've entrusted you with their money.
My wife worked for Wal Mart and we've got our opinions of that place. She was paid fairly, no complaint about that part but the rest? I won't go into that on here, let's just say the corporate powers (management) leave something to be desired so she left.
Simple answer to one of life's problems.
What "rest"? How is an employer responsible for anything but an agreed upon wage to their employee?
"Accurate and timely data on Wal-Mart’s wage and employment practices is not always readily available. However, occasional releases of demographic data from public assistance programs can provide useful windows into the scope of taxpayer subsidization of Wal-Mart. After analyzing data released by Wisconsin’s Medicaid program, the Democratic staff of the U.S. House Committee on Education and the Workforce estimates that a single 300- person Wal-Mart Supercenter store in Wisconsin likely costs taxpayers at least $904,542 per year and could cost taxpayers up to $1,744,590 per year – about $5,815 per employee."
One of the great catch-22's for my Conservative friends on this forum. On one hand they love Walmart because it's non-union and it provides low price, non-union made goods. I mean it's pretty much terrible for American workers and that seems to be what they really love.
But on the other hand the employees of Walmart are mostly federal subsidized through all sorts of welfare programs.
Must keep the political conservatives up at night with the conficts
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