These Illinois Stores Pay It’s Average Employee $50,000 a Year!
His name is Kip Tindell and he is the CEO and founder of The Container Store and he admits he pays his average retail salesperson $50,000 a year while selling his customers "empty boxes"
Business Insider reports that Tindell started out the business in 1978 with only $35,000 Nowadays, The Container Store averages annual sales of $800 million with 67 locations nationwide including three locations in Northern Illinois (Schaumburg, Northbrook and Oakbrook).
That is truly amazing that Tindell pays his average retails sales association $50,000 a year. Kip Tindell wrote a book called, "Uncontainable: How Passion, Commitment, and Conscious Capitalism Built a Business Where Everyone Thrives ". In the book he states the average Container Store retail salesperson makes nearly $50,000 a year compared with what the Bureau of Labor Statistics says is a national average of just above $25,000.
Tindell told Business Insider that that the secret to the company's high wages is what he calls "the 1=3 rule,". He received three times the productivity of an average worker at only two times the cost. He says that one great employee will be as productive as three employees who are merely good. Tindel says:
They win, you save money, the customers win, and all the employees win because they get to work with someone great
- 8% Annual Raises for Employees
According to the Wall Street Journal, Tindell then keeps "great people" by giving them annual raises up to 8% of their salaries, based on their performance. He has managers rank each of the employees they supervise and encourages them to work toward a pay structure where employees are paid in accordance with their value to the company.
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