5 successful corporations show what can happen when employees are paid a living wage.
In the U.S., people have a lot of choices about where they can shop, eat, and be entertained.
This means we can reward companies that are good to their employees by giving them our business and punish those that pay low wages by shopping at the competition.
Here are a list of five companies that are doing right by their employees and are worthy of receiving our hard-earned dollars.
They’re also great places for people who are looking for a job to consider.
Ask someone from the west coast what their favorite burger is and they will undoubtedly say “In-N-Out!”
Well, not only does it make great food, but it’s a wonderful place to work, too. In 2018, Glassdoor ranked it as the 4th best place to work in the entire country.
The company is also known for promoting managers from within, creating job growth opportunities for its employees.
In 2012, In-N-Out store managers made more than $120,000 on average. By comparison, the median pay for food service managers across restaurants nationwide is around $48,000 per year, according to the federal Bureau of Labor Statistics.
The company also gives great benefit packages, including: retirement accounts, health plans, and three weeks of paid vacation a year for those who've been with the company more than six years.
According to Glassdoor, the average entry-level wage at Costco is $13 an hour and most of its employees receive health benefits and pension plans.
One reason why Costo pays more than the average warehouse retailer is because it believes its employees should be compensated for their hard labor.
In 2016, Costco increased it’s entry-level wage from $11.50 or $12 an hour. “We want to be the premium at all levels,” Costco CFO Richard Galanti told CNN Money.
"And frankly in some markets, this is a physical challenging, a physically challenging job," Galanti said. "You're on your feet, you're lifting cases, you're pushing carts at these entry level jobs. And so we thought it was time to do it.”
3. Trader Joe’s
Trader Joe's offers a fair wage (starting salaries are around $13 an hour), along with health and vacation benefits and relatively flexible schedules. This flexibility is part of the company's commitment to healthy employees.
Employees get their schedules far ahead of time so they can schedule their lives outside of work. They also allow employees to work from home when possible.
This commitment to health also means that its employees receive paid sick days and paternal leave.
“When people have some level of control, it diminishes workplace stress and the challenges that come with balancing home, family, work — simultaneously,” Casey Chosewood of the National Institute for Occupational Safety & Health told HuffPost. “That is extremely important in decreasing stress.”
Bad pun alert: working at Starbucks really has its perks.
Starbucks has great benefit programs and, unlike most employers, it offers them to people who work as little as 20 hours a week.
Starbucks offers bonuses, 401(k) matching, discounted stock purchase options, adoption assistance, college tuition reimbursement, health coverage for families, and of course, free coffee.
5. Ben & Jerry’s
Hippie Vermont ice cream entrepreneurs Ben Cohen and Jerry Greenfield are definitely committed to giving their employees a living wage. As of 2015, full-time employees were paid $16.92 an hour, more than double the federal minimum wage.
The company regularly recalculates its wage based on the cost of living in Vermont.
Full-time employees also get health benefits and a fun, dog-friendly office with a nap room, massage room, and lots of free ice cream (three pints per person, per day, to be precise).