Costco Executive Summary
EXECUTIVE SUMMARY
The purpose of this report was to examine the implications on employees motivations used at Costco Wholesale Corporation. Research for this report included a review of current literatures on web-based tuition and Costco’s annual report, as well as other sources from electronic newspapers. The major findings indicate that while there is a need for some monetary rewards, and compensation, employee empowerment, leadership, and learning development should be seen as a way of enhancing employees motivation, and raising employee loyalty. While it is clear that employee needs are vary, and different from each employee’ condition, this report recommends that Costco Wholesale Corporation continue to develop and implement its learning, …show more content…
development approach if it wishes to continue motivating qualified employees, and retaining talents for the company in long run.
TABLE OF CONTENTS
INTRODUCTION
This report has been written to examine the implication of employee motivation used in Costco Wholesale Corporation, and recommend suitable manners to raise employee satisfaction and employee retention. It was important to consider pay and benefits offered by the company, and employee’s needs of career growth in term of leadership and recognition.
The research was conducted by reviewing of current literatures on web-based sources, and other electronic newspapers, Costco’s annual reports. The report will comment on the prospects of the company and make recommendations that would motivate employees, and improve Costco’s current performance.
BACKGROUND
Costco Wholesale Corporation is an international chain of membership warehouses that carry quality, brand name merchandise at substantially lower prices for its members.
The company has grown rapidly from its first open in Seattle, Washington in 1983 to 627 stores worldwide in 2013, become the fifth largest retailer in the U.S and eleventh largest in the world (Costco 2011). According to Jim Sinegal, the Company’s Co-Founder and Director, ability to run extremely low overhead, and to offer employees with greater values, and benefits than its competitors are enables the company to generate greater profit margin over years (Costco 2013). In a reward, Costco has lower employee turnover rate than Wal-marts, and continues to generate benefits for its …show more content…
members.
1. WORKING ENVIRONMENT
According to employee reviews, Costco provides a friendly working environment, where the relationships between staff and supervisors are close (Worthington 2012). As per Maslow’s Hierarchy of Needs, Costco meets employee’s needs by providing a sense of belonging through close relations throughout the corporate scale. Management supports staff by encouraging them to make decisions and assisting them in resolving issues. Hence they are motivated to perform more responsibly and confidently. In addition, employees are allowed to wear casual clothes to work which creates a comfortable and friendly workplace environment (cited in Costco 2003). Sinegal, CEO of Costco Wholesale spend much of his time touring Costco local stores, without formal business attire, giving compliments, recommendations and feedback to store managers and line staffs (Arthur & Thompson 2007). Building close relations between managers and lower-level staffs by effective communication and supportive activities are crucial to motivate employees.
Costco also provides large cafeterias with a variety of food options and an enjoyable campus for people who appreciate outdoor activities during break time. In order to minimise discrimination in the workplace, the company focuses on giving equal tasks and career opportunity for all genders and race. This enables Costco to gain employee loyalty and satisfaction, hence increase their productivity.
PAY RATE
Monetary benefits are a major component of job satisfaction, which may affect their work performance (Ghillyer 2010). According to Weissmann (2012), employees at Costco’s main competitor, Wal-Mart, are paid below the industry average. Consequently, many of them are part of a union and hold strikes to fight against their job dissatisfaction. As shown in figure 1, employees at Costco are paid $14.46 more than an average Wal-Mart employee. The average wage for a Cost Co cashier, after 5 years of employment is approximately 64% higher than that of an employee at the Wal-Mart Empire (McArdle 2012).
Moreover the commentary of Business Week Magazine quotes "At Costco, it's better to be an employee or a customer than a shareholder," says Deutsche Bank”. By showing generosity to employees, they are able to retain them (Commentary:The Costco Way 2004). This is unlike at Wal-Mart where are higher focus is made on shareholder value by cutting costs from employees wages, and benefits (Weissmann 2012). Additionally, no Costco employees are part of a union in Washington State (Frey 2004). This indicates that employees at Costco are satisfied with their higher wage and as such have no need to join a union. Moreover, as per Maslow’s Hierarchy of Needs, Costco more than covers employees physiological needs by offering a sufficient base salary.
2. HEALTH BENEFITS
Costco offers health and dental care plans, plus life insurance, to both part-time and full-time employees. As depicted in figure 1, Costco supplements for 82% of their employee’s medical costs. However at Wal-Mart, only 49% of health care expenses are paid for, meaning the employee bears 51% of the costs. In addition, employees pay less than $5 for generic drugs, and no more than 15% of the cost for the most expensive branded drugs at Costco’s pharmacies (Arthur & Thompson 2009). Also, employees at Costco can add family members and de-facto partners to the program and increase their health care package (Costco 2013). They pay for day care for children under 13 and adult day care under its dependent care reimbursement plan (Arthur & Thompson 2009). Furthermore, they also offer optical exams and long-term care insurance for employees and their families (Costco Wholesale 2011). Employees can also benefit from “retirement plans”_401k, if they complete at least 90 days on the job (Costco 2012). By offering generous health care benefits they have been able to develop trust and a positive attitude from employees.
The 2012 annual report goes on to detail that they do not attempt to minimise wages and benefits but to ensure their satisfaction (Costco 2012). The company has 12% turnover rate among full time employees, and 5.5% for those who stay at Costco more than 1 year (Ton 2012). Furthermore good wages and benefits have led to extremely low turnover rates and theft by employees at Costco compare to Wal-mart. Conclusively, Costco offers safety and security and meets employee’s needs, as per Maslow’s Hierarchy of Needs, by giving more that what the overall industry provides to employees.
Figure ONE: Comparative Table – Costco Vs. Wal-Mart 2012
3. COMPENSATION
Apart from good pay and great healthcare benefits, compensation is one of the primary reasons why employees seek employment at Costco. Biannually, Costco employees receive a bonus check amounting between $2000-$3500 according to years of service (Boyer 2017).
In addition, Costco also offers share schemes where by employees are offered company shares if they have been employed for a substantial period of time (Costco 2012). Broad ranges of 401k investment options are available for employees. Costco matches at 50 percent the first $1,000 an employee contributes (Boyer 2017). At the end of the year, Costco places additional funds into each employee’s 401k account; the contribution totals are based on years of service and annual earnings.
4. TRAINING AND DEVELOPMENT
4.1 Providing training and career advancement for employees at all levels.
Costco found that training and career tracks, to line workers, make employees more productive and motivated to achieve their own career goals (Heymann & Barrera 2010). Costco provides support and knowledge to employees when needed. They also encourage them to think critically, develop interpersonal skills and face new challenges. By cultivating an employee’s inner potential, Costco unquestionably cultivates the ultimate need of employees, according to Maslow’s Hierarchy of Needs. Furthermore, opportunities for development are not only for long-standing employees, but also for junior employees, who are interested in the field. Undoubtedly, it can be seen that the development program at Costco is sufficient and effective for employees.
Lunenburg said that learning goal orientation leads to higher performance than performance foal orientation (Lunenburg 2011, p.4). A person with learning goal orientation tend to be more proactive, creative, and willing to face challenging situation, while the person with a performance goal orientation is more passive as they seek for favorable judgements, and wait for demonstration. Moreover, Lunenburg also indicated that the combination of compatible group and individual goals is more effective than either individual or group goals itself (Lunenburg, 2011, more satisfied and productive.
Costco has a Leader-Led Leadership Development program (LLLD), which is an innovative model that allows sharing of corporate knowledge, values, culture and the responsibility of all leaders at all levels (Herzog 2012).
A group of warehouse managers developed the Costco University, where vital issues of the company are addressed. The Costco University program also enabled open discussions between senior managers, new leaders and employees of all levels. This enables employees to capture new knowledge and skills of exemplary leaders and use today’s leaders as guides (Herzog 2012). Costco extends the learning to all levels and all areas of the business. As a result, new leaders develop the interpersonal skills, and bring out new ideas and best practices to resolve the business’s issues. LLLD has enabled Costco to promote from within, and open new warehouses in the U.S and expand abroad
successfully.
4.2 Selecting people for open position
Costco believes that having the right employees is key to the success of any business. The company wants to find and retain employees who can do the job well and adjust to the company’s culture. Costco has a policy to promote at least 86% of its higher positions from within the company (Arthur & Thompson 2009, p.11). Although Costco does hire managers externally in rare cases, these managers are required to undergo training for at least two years in order to develop and understand the works of the company (Staff 2012). Since the majority of Costco’s management team members were homegrown, they have experience in working in lower-level positions and have a deeper understanding of the company’s day-to-day operations. According to Costco’s chairman_ Jim, 68 percent of Costco’s warehouse managers had started working at the pay-hourly level (Arthur & Thomson 2009, p.11). This makes employees feel that they could have a long career at Costco, and gives them incentives to improve their performance.
According to CEO Jim Sinegal (Staff 2012), many employees at Costco start employment at 19-20 years of age. Sinegal further details that these are typically university students who wish to pursue a professional career at Costco. Many of them have been employed for at least 10 years (Staff 2012). This shows their loyalty and their personal goals to grow professionally. Drawing upon Sinegal’s example, in figure 2, if Costco constantly recruited managers from outside of the company, those employees who had been with the firm since their youth may feel unappreciated. Essentially, Costco’s policy to promote internally gives employees a goal to work towards which motivates them. In any case Costco enables employees to have a level of self-esteem, particularly when they are promoted. This gives them a sense of achievement, which according to Maslow’s Hierarchy of Needs, furthers employee satisfaction and hence generates motivation.
Figure TWO: Equity Theory Applied for Costco
Ruggeri, A 2009, ‘Jim Sinegal: Costco CEO Focuses on Employees’, US News, 22 October, viewed 20 April 2013,
CONCLUSION
Employee motivation plays an essential role in the business’s growth. As employees are interested in the work, and encouraged in the workplace environment, they are more likely to enhance a better service to customers. Therefore, employee motivation would increase productivity, become more profitable and sustainable in the long run.
Understanding employee needs would enable managers to satisfy their staff by offering adequate pay rate and benefits. However, it is becoming evident that employees are seeking greater opportunities to develop their career growth. For businesses in any industry, as the world’s technology and social values are changing constantly, employees’ needs of updating skills, and acquiring new knowledge are becoming a crucial incentive. While rewards and compensation give employee incentive to achieve organisational goals, empowerment and learning provide employees with intrinsic incentives to align their personal goal with the organisation’s. Therefore, providing learning, and career development programs motivate employees to improve their personal performance, associated with the organisational performance as a whole.
REFERENCE
Boyer, M 2007, ‘ Putting employees first’, Lawn & Garden retailer, March 2007, viewed 12 May 2013,
Costco Wholesale 2011, Costco Employee Benefits Program Summary Plan Description, Costco Wholesale, viewed 13 May 2013,
Costco Wholesale Corporation 2012, Annual Report 2012, Costco Wholesale Corporation, viewed 19 April 2013,
Costco wholesale corporation 2013, Company profile, viewed 11 May 2013,
Costco Wholesale 2013, Costco Employee Benefit Program Annual Open Enrolment 2013, Costco Wholsale, viewed 20 April 2013,
Commentary:The Costco Way 2004, accessed 30 April 2013,
Frey, C 2004, 'Costco's love of labor: Employees' well-being key to its success', Seattlepi, 28 March, viewed 20 April 2013,
Ghillyer, A (2010), Management Now, McGraw Hill Higher Education
Greenhouse, S 2005, ‘How Costco became the Anti-Wal-Mart’, The New York Times, 17 July, viewed 10 May 2012,
Herzog, LE 2012, ‘The Generation Leadership Challenge’, Develop Leaders Quest, viewed 12 May 2013, < http://questcorp.com/uncategorized/the-generation-leadership-challenge/>
Karol, G 2012, ‘Want to boost corporate profits? Pay employees more’, The Fiscal Times, 12 December, viewed 11 May 2013,
Katsarski, S 2008, ‘Employee Motivation – The Key to Success’, Ezine Articles, 18 September, viewed 20 April 2013,
Khan, W & Mufti. EO 2012, ‘Effect of compensation on motivating employees in Public and Private Banks of Peshawar (BOK and UBL)’, Journal of Basic and Applied Scientific Research, viewed 10 May 2013,
Logan, LG & Beyman. M 2012, ‘Costco: Breaking All the retail rules’, CNBC first in business worldwide, 25 April, viewed 11 May 2013,
Lunenburg, FC 2011, ‘Goal-Setting Theory of Motivation’, International journal of management, Business, and Administration, vol 15, No. 1, viewed 17 May 2013,
Morris, T 2004, ‘Understanding Costco’, Coriolis Research, June 2004, viewed 12 May 2013,
< http://www.coriolisresearch.com/pdfs/coriolis_understanding_Costco.pdf>
O’Toole, J 2005, The ethics of human capital, Santa Clara University, viewed 13 May 2013,
Ruggeri, A 2009, ‘Jim Sinegal: Costco CEO Focuses on Employees’, US News, 22 October, viewed 20 April 2013,
Staff, M 2012, 'Jim Sinegal on Costco's "Promote From Within" Strategy and Why It Needs to Think Like a Small Company', Daily Finance, 21 June, viewed 13 May 2013,
Ton, Z 2012,’ Why good jobs are good for retailers’, Harvard Business Review, January- February 2012, viewed 10 May 2013, < http://retailactionproject.org/wp-content/uploads/2012/08/WhyGoodJobsAreGoodforRetailers_ZTon.pdf>
Weissmann, J 2012, 'Who's Really to Blame for the Wal-Mart Strikes? The American Consumer', The Atlantic, 22 November, viewed 20 April 2013,
Worthington, D 2012, ‘Costco’s CEO becomes a progressive hero, Internet meme’, Smart Planet, 28 November, viewed 10 May 2013,
The purpose of this report was to examine the implications on employees motivations used at Costco Wholesale Corporation. Research for this report included a review of current literatures on web-based tuition and Costco’s annual report, as well as other sources from electronic newspapers. The major findings indicate that while there is a need for some monetary rewards, and compensation, employee empowerment, leadership, and learning development should be seen as a way of enhancing employees motivation, and raising employee loyalty. While it is clear that employee needs are vary, and different from each employee’ condition, this report recommends that Costco Wholesale Corporation continue to develop and implement its learning, …show more content…
development approach if it wishes to continue motivating qualified employees, and retaining talents for the company in long run.
TABLE OF CONTENTS
INTRODUCTION
This report has been written to examine the implication of employee motivation used in Costco Wholesale Corporation, and recommend suitable manners to raise employee satisfaction and employee retention. It was important to consider pay and benefits offered by the company, and employee’s needs of career growth in term of leadership and recognition.
The research was conducted by reviewing of current literatures on web-based sources, and other electronic newspapers, Costco’s annual reports. The report will comment on the prospects of the company and make recommendations that would motivate employees, and improve Costco’s current performance.
BACKGROUND
Costco Wholesale Corporation is an international chain of membership warehouses that carry quality, brand name merchandise at substantially lower prices for its members.
The company has grown rapidly from its first open in Seattle, Washington in 1983 to 627 stores worldwide in 2013, become the fifth largest retailer in the U.S and eleventh largest in the world (Costco 2011). According to Jim Sinegal, the Company’s Co-Founder and Director, ability to run extremely low overhead, and to offer employees with greater values, and benefits than its competitors are enables the company to generate greater profit margin over years (Costco 2013). In a reward, Costco has lower employee turnover rate than Wal-marts, and continues to generate benefits for its …show more content…
members.
1. WORKING ENVIRONMENT
According to employee reviews, Costco provides a friendly working environment, where the relationships between staff and supervisors are close (Worthington 2012). As per Maslow’s Hierarchy of Needs, Costco meets employee’s needs by providing a sense of belonging through close relations throughout the corporate scale. Management supports staff by encouraging them to make decisions and assisting them in resolving issues. Hence they are motivated to perform more responsibly and confidently. In addition, employees are allowed to wear casual clothes to work which creates a comfortable and friendly workplace environment (cited in Costco 2003). Sinegal, CEO of Costco Wholesale spend much of his time touring Costco local stores, without formal business attire, giving compliments, recommendations and feedback to store managers and line staffs (Arthur & Thompson 2007). Building close relations between managers and lower-level staffs by effective communication and supportive activities are crucial to motivate employees.
Costco also provides large cafeterias with a variety of food options and an enjoyable campus for people who appreciate outdoor activities during break time. In order to minimise discrimination in the workplace, the company focuses on giving equal tasks and career opportunity for all genders and race. This enables Costco to gain employee loyalty and satisfaction, hence increase their productivity.
PAY RATE
Monetary benefits are a major component of job satisfaction, which may affect their work performance (Ghillyer 2010). According to Weissmann (2012), employees at Costco’s main competitor, Wal-Mart, are paid below the industry average. Consequently, many of them are part of a union and hold strikes to fight against their job dissatisfaction. As shown in figure 1, employees at Costco are paid $14.46 more than an average Wal-Mart employee. The average wage for a Cost Co cashier, after 5 years of employment is approximately 64% higher than that of an employee at the Wal-Mart Empire (McArdle 2012).
Moreover the commentary of Business Week Magazine quotes "At Costco, it's better to be an employee or a customer than a shareholder," says Deutsche Bank”. By showing generosity to employees, they are able to retain them (Commentary:The Costco Way 2004). This is unlike at Wal-Mart where are higher focus is made on shareholder value by cutting costs from employees wages, and benefits (Weissmann 2012). Additionally, no Costco employees are part of a union in Washington State (Frey 2004). This indicates that employees at Costco are satisfied with their higher wage and as such have no need to join a union. Moreover, as per Maslow’s Hierarchy of Needs, Costco more than covers employees physiological needs by offering a sufficient base salary.
2. HEALTH BENEFITS
Costco offers health and dental care plans, plus life insurance, to both part-time and full-time employees. As depicted in figure 1, Costco supplements for 82% of their employee’s medical costs. However at Wal-Mart, only 49% of health care expenses are paid for, meaning the employee bears 51% of the costs. In addition, employees pay less than $5 for generic drugs, and no more than 15% of the cost for the most expensive branded drugs at Costco’s pharmacies (Arthur & Thompson 2009). Also, employees at Costco can add family members and de-facto partners to the program and increase their health care package (Costco 2013). They pay for day care for children under 13 and adult day care under its dependent care reimbursement plan (Arthur & Thompson 2009). Furthermore, they also offer optical exams and long-term care insurance for employees and their families (Costco Wholesale 2011). Employees can also benefit from “retirement plans”_401k, if they complete at least 90 days on the job (Costco 2012). By offering generous health care benefits they have been able to develop trust and a positive attitude from employees.
The 2012 annual report goes on to detail that they do not attempt to minimise wages and benefits but to ensure their satisfaction (Costco 2012). The company has 12% turnover rate among full time employees, and 5.5% for those who stay at Costco more than 1 year (Ton 2012). Furthermore good wages and benefits have led to extremely low turnover rates and theft by employees at Costco compare to Wal-mart. Conclusively, Costco offers safety and security and meets employee’s needs, as per Maslow’s Hierarchy of Needs, by giving more that what the overall industry provides to employees.
Figure ONE: Comparative Table – Costco Vs. Wal-Mart 2012
3. COMPENSATION
Apart from good pay and great healthcare benefits, compensation is one of the primary reasons why employees seek employment at Costco. Biannually, Costco employees receive a bonus check amounting between $2000-$3500 according to years of service (Boyer 2017).
In addition, Costco also offers share schemes where by employees are offered company shares if they have been employed for a substantial period of time (Costco 2012). Broad ranges of 401k investment options are available for employees. Costco matches at 50 percent the first $1,000 an employee contributes (Boyer 2017). At the end of the year, Costco places additional funds into each employee’s 401k account; the contribution totals are based on years of service and annual earnings.
4. TRAINING AND DEVELOPMENT
4.1 Providing training and career advancement for employees at all levels.
Costco found that training and career tracks, to line workers, make employees more productive and motivated to achieve their own career goals (Heymann & Barrera 2010). Costco provides support and knowledge to employees when needed. They also encourage them to think critically, develop interpersonal skills and face new challenges. By cultivating an employee’s inner potential, Costco unquestionably cultivates the ultimate need of employees, according to Maslow’s Hierarchy of Needs. Furthermore, opportunities for development are not only for long-standing employees, but also for junior employees, who are interested in the field. Undoubtedly, it can be seen that the development program at Costco is sufficient and effective for employees.
Lunenburg said that learning goal orientation leads to higher performance than performance foal orientation (Lunenburg 2011, p.4). A person with learning goal orientation tend to be more proactive, creative, and willing to face challenging situation, while the person with a performance goal orientation is more passive as they seek for favorable judgements, and wait for demonstration. Moreover, Lunenburg also indicated that the combination of compatible group and individual goals is more effective than either individual or group goals itself (Lunenburg, 2011, more satisfied and productive.
Costco has a Leader-Led Leadership Development program (LLLD), which is an innovative model that allows sharing of corporate knowledge, values, culture and the responsibility of all leaders at all levels (Herzog 2012).
A group of warehouse managers developed the Costco University, where vital issues of the company are addressed. The Costco University program also enabled open discussions between senior managers, new leaders and employees of all levels. This enables employees to capture new knowledge and skills of exemplary leaders and use today’s leaders as guides (Herzog 2012). Costco extends the learning to all levels and all areas of the business. As a result, new leaders develop the interpersonal skills, and bring out new ideas and best practices to resolve the business’s issues. LLLD has enabled Costco to promote from within, and open new warehouses in the U.S and expand abroad
successfully.
4.2 Selecting people for open position
Costco believes that having the right employees is key to the success of any business. The company wants to find and retain employees who can do the job well and adjust to the company’s culture. Costco has a policy to promote at least 86% of its higher positions from within the company (Arthur & Thompson 2009, p.11). Although Costco does hire managers externally in rare cases, these managers are required to undergo training for at least two years in order to develop and understand the works of the company (Staff 2012). Since the majority of Costco’s management team members were homegrown, they have experience in working in lower-level positions and have a deeper understanding of the company’s day-to-day operations. According to Costco’s chairman_ Jim, 68 percent of Costco’s warehouse managers had started working at the pay-hourly level (Arthur & Thomson 2009, p.11). This makes employees feel that they could have a long career at Costco, and gives them incentives to improve their performance.
According to CEO Jim Sinegal (Staff 2012), many employees at Costco start employment at 19-20 years of age. Sinegal further details that these are typically university students who wish to pursue a professional career at Costco. Many of them have been employed for at least 10 years (Staff 2012). This shows their loyalty and their personal goals to grow professionally. Drawing upon Sinegal’s example, in figure 2, if Costco constantly recruited managers from outside of the company, those employees who had been with the firm since their youth may feel unappreciated. Essentially, Costco’s policy to promote internally gives employees a goal to work towards which motivates them. In any case Costco enables employees to have a level of self-esteem, particularly when they are promoted. This gives them a sense of achievement, which according to Maslow’s Hierarchy of Needs, furthers employee satisfaction and hence generates motivation.
Figure TWO: Equity Theory Applied for Costco
Ruggeri, A 2009, ‘Jim Sinegal: Costco CEO Focuses on Employees’, US News, 22 October, viewed 20 April 2013,
CONCLUSION
Employee motivation plays an essential role in the business’s growth. As employees are interested in the work, and encouraged in the workplace environment, they are more likely to enhance a better service to customers. Therefore, employee motivation would increase productivity, become more profitable and sustainable in the long run.
Understanding employee needs would enable managers to satisfy their staff by offering adequate pay rate and benefits. However, it is becoming evident that employees are seeking greater opportunities to develop their career growth. For businesses in any industry, as the world’s technology and social values are changing constantly, employees’ needs of updating skills, and acquiring new knowledge are becoming a crucial incentive. While rewards and compensation give employee incentive to achieve organisational goals, empowerment and learning provide employees with intrinsic incentives to align their personal goal with the organisation’s. Therefore, providing learning, and career development programs motivate employees to improve their personal performance, associated with the organisational performance as a whole.
REFERENCE
Boyer, M 2007, ‘ Putting employees first’, Lawn & Garden retailer, March 2007, viewed 12 May 2013,
Costco Wholesale 2011, Costco Employee Benefits Program Summary Plan Description, Costco Wholesale, viewed 13 May 2013,
Costco Wholesale Corporation 2012, Annual Report 2012, Costco Wholesale Corporation, viewed 19 April 2013,
Costco wholesale corporation 2013, Company profile, viewed 11 May 2013,
Costco Wholesale 2013, Costco Employee Benefit Program Annual Open Enrolment 2013, Costco Wholsale, viewed 20 April 2013,
Commentary:The Costco Way 2004, accessed 30 April 2013,
Frey, C 2004, 'Costco's love of labor: Employees' well-being key to its success', Seattlepi, 28 March, viewed 20 April 2013,
Ghillyer, A (2010), Management Now, McGraw Hill Higher Education
Greenhouse, S 2005, ‘How Costco became the Anti-Wal-Mart’, The New York Times, 17 July, viewed 10 May 2012,
Herzog, LE 2012, ‘The Generation Leadership Challenge’, Develop Leaders Quest, viewed 12 May 2013, < http://questcorp.com/uncategorized/the-generation-leadership-challenge/>
Karol, G 2012, ‘Want to boost corporate profits? Pay employees more’, The Fiscal Times, 12 December, viewed 11 May 2013,
Katsarski, S 2008, ‘Employee Motivation – The Key to Success’, Ezine Articles, 18 September, viewed 20 April 2013,
Khan, W & Mufti. EO 2012, ‘Effect of compensation on motivating employees in Public and Private Banks of Peshawar (BOK and UBL)’, Journal of Basic and Applied Scientific Research, viewed 10 May 2013,
Logan, LG & Beyman. M 2012, ‘Costco: Breaking All the retail rules’, CNBC first in business worldwide, 25 April, viewed 11 May 2013,
Lunenburg, FC 2011, ‘Goal-Setting Theory of Motivation’, International journal of management, Business, and Administration, vol 15, No. 1, viewed 17 May 2013,
Morris, T 2004, ‘Understanding Costco’, Coriolis Research, June 2004, viewed 12 May 2013,
< http://www.coriolisresearch.com/pdfs/coriolis_understanding_Costco.pdf>
O’Toole, J 2005, The ethics of human capital, Santa Clara University, viewed 13 May 2013,
Ruggeri, A 2009, ‘Jim Sinegal: Costco CEO Focuses on Employees’, US News, 22 October, viewed 20 April 2013,
Staff, M 2012, 'Jim Sinegal on Costco's "Promote From Within" Strategy and Why It Needs to Think Like a Small Company', Daily Finance, 21 June, viewed 13 May 2013,
Ton, Z 2012,’ Why good jobs are good for retailers’, Harvard Business Review, January- February 2012, viewed 10 May 2013, < http://retailactionproject.org/wp-content/uploads/2012/08/WhyGoodJobsAreGoodforRetailers_ZTon.pdf>
Weissmann, J 2012, 'Who's Really to Blame for the Wal-Mart Strikes? The American Consumer', The Atlantic, 22 November, viewed 20 April 2013,
Worthington, D 2012, ‘Costco’s CEO becomes a progressive hero, Internet meme’, Smart Planet, 28 November, viewed 10 May 2013,