It wouldn’t be much of a surprise if Silicon Valley tech giants were to be ranked as the best companies for compensation and benefits. But what about a retailer?
Costco ranks as the second-best company for pay and benefits, trailing behind search giant Google on the list compiled by employment-site Glassdoor.
Of course, Costco employees on average make far less than Google workers, but the retailer gets high scores for paying well above the minimum-wage levels of its retail competitors — and for providing health insurance for both full- and part-time workers.
“Costco does seem surprising, but it brings home the fact that with benefits and perks, it’s not all one-size-fits-all,” said Allyson Willoughby, senior vice president of people for Glassdoor. “The things that are right for a Costco hire aren’t the right things” for tech companies like Facebook (FB) (ranked No. 3 on the list) or Adobe (ADBE) (No. 4).
The average annual salary for a Google product manager is $146,215, according to Glassdoor data. The average hourly pay for a front-end cashier at Costco, by comparison, is $16.07 an hour.
Costco has become a poster child of sorts for proponents of increasing the minimum wage. Supporters point out that Costco juggles profitability and contented workers, rare in an industry known for underpaid and disgruntled workers.
“There were a couple of national debates that prompted us to run this survey,” Willoughby said. “One is about fair pay and pay inequality, and the other is the whole health-care debate.”
The survey illustrates that even if you can’t offer Silicon Valley-level pay, offering perks and benefits that separate your business from competitors can help workers feel valued.
Check out Glassdoor’s full list here.