- Published: November 15, 2021
- Updated: November 15, 2021
- University / College: Macquarie University
- Level: Secondary School
- Language: English
- Downloads: 33
RESEARCH RESEARCH The article shows that one Craig Jelinek holds one of the best jobs in the world. The working conditions are reasonable and fair to them in the sense that he get a total of five weeks off for vacation and is close to retire. It important to note and mention that Craig Jelinek as a CEO works at a retail shop which happens to be one of the most dynamic and ever changing markets in the world. As much as there have labour troubles in the general workforce of the economy such as unrests and strikes due to low pays and wages. The Costco Wholesale where Craig Jelinek works in however has never experienced any labour unrests for over thirty years, due to relatively higher payment and better or favorable working conditions.
In the surge and increase of the internet, the industry and market as a whole has borne the brunt of change as most of the competitors lost their cutting edge and business or market share to the internet. This is to imply that customers value the retail services that they get from the internet as compared to physical or manual retail stores and shops. On the contrary, the Costco Company has continued to increase and grow in terms of stock price and sales (www. bloomberg. com). In the conventional and simple sense, it is as if the Costco Company has defied business and marketing conventions to realize an increase in its portfolio despite the fact that business and market as a whole is experiencing difficult times in the conventional sense and aspect. According to Craig Jelenik, the company gives better pay and more comfortable working environment where the welfare of the workers is ensured. For instance, Craig Jelenik mentions that people ought to have wages with health benefits ensures that more money rotates back to the society which in turn would create a healthier nation. He also went ahead to write and advise the congress to increase the minimum wage to $9 an increase from the past level. The main reason as to why he fronts an increase in the minimum wage is so as to ensure that the employee productivity is increased, their loyalty and commitment is unwavering and the turnover of employees is high.
Under the prevailing circumstance of labour unrest and demands in pay rise, the Costco Company has continued to give its employees a higher minimum wage as compared to what the government stipulates for minimum pay per hour. For instance, it pays its employees $20. 89 an hour as compared to the stipulated wage rate of $9-which other retail stores pays their customers.
The researchers demanded and inquired into ways through which the consumption patterns of the customers change and vary over time. If the retail stores reduce their pay per hour to their employees then it is a show or sign that the business is experiencing lesser number in term of customers. It is needless to mention and stress the fact that the customers are the direct contributors to the success of a company or a business and if the consumers find better alternatives in the internet or other avenues then they would ditch and leave the business. It is thus safe to mention and assert that the Costco as a company has covered and ensured that the welfare of the customers is taken care of. The human subjects used in the study are the employees and their strikes or unruly behaviors when they demand for a pay rise per hour. Therefore, there is a functional relationship between the level of sales made by a business and the level of pay per hour given to the employees of a business.
Reference
(http://www. bloomberg. com/bw/articles/2013-06-06/costco-ceo-craig-jelinek-leads-the-cheapest-happiest-company-in-the-world#p1)