Jim Sinegal picks up a decorated sheet cake in the Costco bakery. “It looks good enough to eat!” he tells the bakery employees. “Really, they look beautiful. Thank you!”
When you hear praise like that from your CEO, it makes you want to work that much harder … and stay longer. At Costco, employees feel that way a lot, because Sinegal—who co-founded the warehouse retailer in 1983—is always praising his people and treating them well.
For one thing, Costco laid off no employees—zero—during the recent recession. And 86% of Costco employees receive health care and benefits, even though half of them work only part time.
“It’s good business,” Sinegal says of treating employees well. “When you hire good people, and you provide good jobs, good wages and a career, good things are going to happen.”
— Adapted from “Jim Sinegal: Costco CEO Focuses on Employees,” Amanda Ruggeri, U.S. News &World Report.