Sound absurd? It certainly is on the surface. COSTCO, the mega retailer with 942 locations worldwide. EMP Tech Group, a small boutique IT firm in the Midwest United States. COSTCO with 341,000 employees, EMP Tech Group with 33. But the employees are where the similarities begin.
A recent Wall Street Journal article pointed out the above average treatment of COSTCO employees, by the company. Above industry average pay, a great culture that is employee focused, having long tenure of employees be a corporate goal. Generous benefits including health care, and 401K.
You see COSTCO sees the benefit of keeping the same people around the organization year after year. And more importantly, they see the incredible (and sometimes hidden) cost of employee turnover. The low morale caused by people leaving frequently, the inefficiency of new people having to learn a new job. And most important, the poor customer experience that is the result of high turnover. Turnover can cost up to 2X an employee’s salary to account for the lost productivity.
Look, sometimes people leave an organization for good reason. Family is moving, and they want to go along. An incredible job opportunity opened up, and you cannot say no. Sometimes the job is with family. And that happens at the EMP Tech Group, but not very often. And less often since we became Employee Owned a few years ago.
When we watch LinkedIn and see the turnover that our competitors suffer, we thank our stars that we have a great culture here at the EMP Tech Group. A culture built on a long career with a company that appreciates our employees. Rewards them with raises, promotions, benefits, and an appreciative culture. So, if you want a technology partner who has long-term tenured and dedicated employees here to serve our customers, visit us at www.emptechgroup.com to learn more.