“Were a membership warehouse club, dedicated to bringing our members the best possible prices on quality brand-name merchandise.” (Costco Asia Home) - This quoted statement as given by Costco Wholesale Japan, Inc and Costco Wholesale Corporation. But is this sufficient to…
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Outside US it operates in the UK, Japan, South Korea, Australia, Taiwan, Canada and Mexico. The company is undeniably the leader in its field. It is very strict to maintain its quality in every dimension of its business and always give value to its business policies and ethics. Though it is a big company with a great international business expansion, it still has maintained a healthy, cultural and homely work environment, which is very essential for the flourish and success of its employees. The company gains through its employees through “a loyal, productive and efficient cadre of employees” (American Rights at Work) The compensation package including the benefits have been negotiated such that they are positioned to the best in the business. All these factors have worked to make the company to be identified as one of the top three company of Washington as declared by the Washington CEO Magazine. (Did you Know?). The paper analyses the role of the compensation structure provided to the employees towards its betterment and current state of flourish.
It is well known that COSTCO provides great benefit and very liberal compensation to its employees. A cashier of the company having work experience of four years earn above $40,000 along with all the other benefits in the company. Beside the benefits such as medical allowance, disability, dental check up facility etc., the person can also take a part in the 401K program of the company and can buy the stock options. If we minute analyze these benefits we can notice that these benefits are almost the top in the industry. If we compare the company with its counterpart in the industry Wal-Mart, we see that both these two companies follow the price oriented sales policy as their strategy. But when the Wal-Mart is highly criticized for its low pay and benefit strategy to its employees, the COSTCO is appreciated
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(Human Resource Management (COSTCO) Research Paper)
“Human Resource Management (COSTCO) Research Paper”, n.d. https://studentshare.org/miscellaneous/1565963-human-resource-management-costco.
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