What’s the secret to nurturing a
happy, productive workforce? It seems
that companies who pay more sometimes receive less in return: fewer turnovers
and fewer customer service issues.
Every year Forbes identifies the
top 100 American companies to work for.
This year, in addition to identifying the usual 100, Forbes also
identified all of the employers who have appeared on all of the company’s “Best
Companies” lists--16 of them since 1998.
Of the 13 employers identified on this list, four are called out for
offering generous or higher-than-average pay: Cisco, Four Seasons Hotels and
Resorts, Goldman Sachs, and Nordstrom.
CostCo, too, appears to buy into
the “pay employees more than you need to” mentality. According to a September 3, 2013, article,
“On Labor Day, 3 Companies Worth Celebrating,” by Jeremy Bowman, the warehouse
giant pays its employees more than $20/hour.
Rival Wal-Mart pays $13/hour.
The lesson here? Sometimes money does buy happiness, and
loyalty, and success.
The good news? Not every company, particularly new or small
companies, can afford to be generous in their wage offerings. Fortunately, money isn’t the only thing that
motivates workers or that lands an organization on Forbes’ list. Check back next week--and every week in
September--to see what other traits keep companies successful and employees
satisfied.
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