@@NdxtremePro Yeah. People don't realize amazon is not very cheap. Second, when it comes to food amazon is expensive while Costco is cheap if you have a family of 3+. For less than a family of 3+ there are a lot fewer things to buy from Costco but there are still some things to get.
And you would think that other companies would drop their ego and take example on Costco. That shows how incompetent others are and how they only care about their pockets.
He's right about low employee turnover. I bought my tires at the Kirkland, WA location back in 2012...went back in this past summer 2019 and it was the same guy working the cash register in the tire shop!
At our local store, Kurt works at the exit and has basically watched our son grow up. Fantastic to see the employees love their job enough to stay there.
Now, if you go back and don’t see that employee in the tire shop, more than likely, that employee is now learning a new dept in either the same or a different warehouse. Costco promotes from within! Another reason they are a great employer! They put their all into their current employees.
Walmart & Amazon should be ashamed of themselves on the way they treat their employees, suppliers and customers after watching this video. If you have the right values and treat people right you’ll be successful.
People should also be ashamed of staying at shitty jobs. Not all jobs at Amazon suck, a friend of mine used to intern there and loved it. Markets are efficient, go build a company that directly competes with Amazon or Walmart.
@@carpettunnel8837 No doubt, I know people who work in logistechs and get comped like 70k a year plus stock options. I just dont like how they contract temps to do their lower echelon work.
I've worked for Costco for 31 years. Craig is exactly like he comes across. Extremely approachable and humble man just like his predecessor Jim. Hard work at times but I've never had to worry about a paycheck in the hardest of times.
When i started working there as a meat cutter Shares were $30 in 04 They even mach my 401k 50% It is a great company Was able to buy a house in silicon valley. Never thought it would take me this far coming from Luckys super market .
@@alek488 However, it causes lung issues that results in a significant decrease of QALY, or the numbers of years of normal quality life. It's not worth it.
Really wanted to stop at the Reykjavik location when I passed by it. Prices overall are noticably high in Iceland so I'm glad Costco could help alleviate the inflation with bulk.
@@552mustang The inventory of Costco in Iceland is, mostly, based on the inventory from Costco - United Kingdom. There is no Costco in Denmark. Costco operates only in 4 countries in Europe, those are Iceland, U.K., Spain and France.
@@jogiebalansag7250 Costco has stores in Japan, South Korea, Taiwan and China. Apart from these countries, there are stores in Australia, USA, Canada, Mexico, United Kingdom, Iceland, France and Spain.
I have worked for Costco for 28 years Costco is an Exellant place to work we have great pay and exellant benefits i still enjoy going to work every shift i would recommended Cotco to everyone who wants a great job
It's very rare to nonexistent to see a small business in 2020 to have this kind of payroll. To even get to the point where you get have a few employees and cut yourself a small paycheck is daunting.
@@farzana6676 good pay and benefits which pretty much no other retailers give their employees. My aunt has been working there for over 20 years and has a great middle class life on the salary
@@farzana6676 for me what makes it the best is how they treat their employees. Costco treat both members and employees with respect. Most managers and supervisors come from the inside. Costco has great benefits such as 401k dental vision and health. Plus teladoc umbrella. And much much more. Costco offers many promotions transfers if you don't like your department or your occupation or just simply where you are at or if you want to try something new you can sign up on openings. Most jobs don't give as much opportunities like Costco. Costco stays above and as a company is tries to go above standard like wages how employees are treated how members are treated. Members is number 1 priority. We have a refund policy that everyone loves and sadly yes many people abuse that policy but people trust our company because of that policy. Or like now when costco let go coke cola contract to maintain the $1.50 hot dog with soda and free refill. They didn't worry about money loss they worried about customers satisfaction. Not only that but prices are low because one we do not advertise. We don't have groceries bags we recycle our boxes. Sometimes I can say the admin team isn't always the best but the company as whole is. CEO always check on stores. Regional always checking on stores. Not only that bust just almost year now where how our sick/personal time works it's no longer a set amount of days the hours you work you earn sick/personal time. The best I love about my job is that my coworkers been working in the company 10+ years the longest is 1999 in our warehouse. That long time and that person is truly happy living a middle class life but stocks in the morning. Like now our stock has been going up giving us a better output on our 401k. You can't beat that for retail
Shows you dont have to treat your employees like garbage (Amazon, Walmart, Gamestop etc) to be sucessful. Mad respect for this guy. When his shareholders tried to bully him about the $4.99 roasted chicken prices and the $15 an hour wagea he told them to take a hike.
I work with Costco as a vendor and I can tell you that they treat me very well. They have a high level of transparency and respect even for those that don't work directly for them.
I have the same meat rules, i work in the Costco distribution center and Ive handled the meat from all the 70ish Costco’s in Southern California and Hawaii and now I work in the depot in Houston and handle all the meat of Costco in southern Texas and Louisiana and I can promise you we take care of our meat
I've met him 3 or 4 times now, and I was able to meet Jim back in 2012 when I first started working for Costco. Both are very nice and down to earth guys.
When I was a Costco Employee, I was always treated well and with respect. I still go back 15 years later and say hello to my friends who still work there.
Dave Chappelle amazon pays 15 with zero benefits and you’re disposable. At Costco you start out the same but have FULL benefits and stock options with employer match. It’s a REAL company, amazon is just a middleman that’s doomed to fail like the rest of them that have high turnover
Costco is such a great company!! They understand if you pay your employees well they will be invested in the business. Costco also is the king of customer service. The return policy is stupidly ridiculously fantastic. I was double charged for an item once and went back the next day and they refunded me for the purchase price no hassle. Costco hands down is my favorite retailer and I'm an extremely loyal customer. Walmart and Amazon should take a good hard look at how Costco makes a profit with class and respect for employee, customer and stockholder!!
BKNb 77 same here. Currently out of work due to a surgery, where costs wasn’t a deterrent, and for that I’m thankful. looking forward to getting back to work soon.
I like the fact that the CEO is wearing his work ID for an interview. I trust Costco brand than I trust Amazon, or Walmart. When buying at Amazon, it hard to know if you are buying from Amazon or third party, each has different quality, warranty or return policy
@@carpettunnel8837 the CEO himself mentioned it in the interview that the employees work diligently and always suggest new efficiencies.. Efficiencies = healthy business = lower prices which will always bring in customers..
@@OneManOnFire Sad that you have to be in union to get a pension. The newer warehouses do NOT have unions, therefore NO PENSIONS! Unless you contribute to the 401K those employees are screwed!!
American companies and the government should learn that people want neither government handouts nor excessive, ridiculous over the top entitlements. Rather, we are willing to do hard work and stay long term so long as we have fair benefits, wages, an ethical management and a safe workplace. Please stand by your workers so they can buy your products and grow the economy. For that, they will be willing to move mountains and make your company succeed for the long haul.
Very heart warming to see how this company is ran by such a very humble CEO. Just watching the video gives out a great vibe, make you want to be a better person. Don't have words to explain
I hope the owners, chairman, and CEO can read these comments one day. I haven't work at Costco before, but i do grocery shopping there every week, and what i've heard about it from employees and what the CEO is saying here makes it is totally true. I can tell you one thing about this company, Costco is one of the very very few retail company out there you can happily work for unlike other big retail companies such as Walmart, Home Depot, Target, Amazon and goes on... Costco actually care about their employees. They're not greedy as other companies, they treat their employees with respect and fairness and make sure their employees make good money and have good benefits.
Craig is just the way you see him here, this is no act, he is truly a wonderful man and that goes for all our upper management team. I’ve worked for Costco for 18 years and will be with this great company until I retire. I urge anyone, young or old to work at Costco, the opportunities are endless and very rewarding.
Sad how people are happy working at Costco or any place really. That’s why I have my own business, I don’t like knowing someone on top of the chart is making 10X and not working as hard as me. To each their own
$25/hr average pay? 10yr employees average $29/hr? But I thought if you pay your employees more you had to pass the expense on to the customers? But but but how does the top 100 employees still get there $2 million salary and $50 million bonus even though the company didn't make that much profit like the rest of the big companies *cough GM cough*? I don't know maybe if the top 20-100 employees didn't make over $500K and have 5-20 million bonuses I guess you can pay your employees $20-$30/hr AND give them benefits, retirement, healthcare, vacation, holiday pay AND still make a lot of money for ALL employees not just the top ones and employ thousands, (even hundreds of thousands world wide)? Who would have thought it? I don't know maybe all the middle class that have been begging for a descend pay raise?
Love Costco! It has a selection of meat including usda prime beef and other products you just can’t get at the grocery store or even online for the same price.
Was that ever even in question? Maybe on some remote island a rich guy owns it’s illegal for people to earn money but the USA is likely outside this remote island’s jurisdiction.
Although I don't shop at Costco as much as I used to , yet Costco is still the main store of shopping for the very reason that it treats its employees with respect and provides them with good wages and benefits.
plus the staff of samples are friendly and don't mind if you take one, two, three, four....six samples and still smile and friendly. Secret: friendly, quality, low price, service after the sale......yes, in today's market....it is a secret!
I’m a United States cattle producer. I’ve worked in packing houses, feed companies, and ranches. Costco is my number one go to for buying beef; I don’t even bother putting up my own beef anymore. Awesome products!
I have to say Im getting ready to retire from teaching and im still a young guy After watching this I really want to try working for Costco. I'am finding I trust this man Craig Jelinek even though hes making over 8 million in salary as CEO they are treating employees to giving them 29.00 an hour. My friend Blaise works for Sams running 2 departments and is only making 21.00 an hour. Who would want to work for Sams Club ? Not me.
I'm a new investor. As far as stocks go. Costco is my first and greatest love. I bought a share. At first I was all what am I doing? Am I doing the right thing? Then I was ready to buy another share. After seeing this. I want to buy a few more.
Good on Costco for paying its employees a decent wage with benefits. $25/hr is about $52,000 per year. The magic number for most families in the US according to Forbes is $70,000 per year. This is what Gravity Payments did from 2015. It's been so successful with increasing revenues, profits, decreasing absenteeism and staff turnover that President and CEO Dan Price is going to do the same thing with its newly acquired office in Boise, Idaho. The only complaint I have with Costco is the amount of packaging garbage and food waste it creates. They wrap everything including clamshells for tomatos (or something like that). Customers usually buy so much in bulk that a lot of food goes rotten in the back of the refrigerators of North America.
Costco is one of the few stores i enjoy going to. Cheap bulk products, quality generic brand (Kirkland), free samples, food court, cheap gas. Not much to dislike all of it makes the $60 a year worth it.
Great leadership, accountability, treat their team as an invaluable asset. I’m a loyal customer and will continue to make the 80 mile round trip drive to our store to stock up. Other companies need to learn from their example!
Sven Frontin-Rollet just realised that we have Costco in Australia! Looks like 12 total. Definitely going to get a membership :) www.costco.com.au/store-finder
