Tuesday, August 6, 2013

Rejecting Walmart Strategy, Trader Joe’s Pays Employees A Living Wage And Wins

“Number 1” with consumers, the retailer/grocer is number one with employees as well@NYDailyNews.com
Lorraine Devon Wilke

We’ve watched as places like Walmart, Papa John’s, Target, Applebee’s and other businesses continue to pay sub-par wages while claiming their only option for profit, given the economy and their being “forced” to provide employees with insurance, is to either cut employees’ hours and/or their wages. This miserly strategy is justified and implemented despite the fact that research shows that raising wages would actually “benefit workers, the industry and the overall economy.”

Yet in the midst of Scroogian thinking, a handful of smarter businesses have stepped to the forefront to reject this “austerity” model for a different philosophy right in line with research: pay a good living wage, offer benefits and maximize one of your most important “assets”: your valued workforce. Top on that list of smart retailers is Costco; Tulsa-based convenience chain, QuikTrip, and consumer favorite, Trader Joe’s.