On July 1, 1978 The Container Store opened its first store in Dallas, TX. Kip Tindell (Chairman and CEO), Garrett Boone (Chairman Emeritus), and Architect John Mullen focused the original product offering around an eclectic mix of products that would help simplify consumers’ lives. The Container Store was a pioneer in this new, specialty category of retailing that focused on storage and organization. The first store was filled with products like, wire drawers, mailboxes, burger baskets, and milk crates that consumers could not typically find all together in other retail stores. Today, The Container Store has locations nationwide that showcase thousands of innovative products to help consumers save time, space, and money.
For the past twelve years, The Container Store has been named one of Fortune Magazine’s “Top 100 Companies to Work For.” One of The Container Store’s Foundation Principles is that one great employee is equal to three good employees. The Container Store believes in hiring great employees and retaining them! According to The Container Store, “A company must be extraordinarily dedicated to its human resource endeavor, because it takes astronomically more time and effort to attract, hire, and retain great people. They’re more challenging to get and they’re more challenging to keep. But the payoff they’ll provide is enormous.” The Container Store’s annual turnover rate is 10%. The average turnover rate for most retailers is 100%.
What are some of the ways that The Container Store puts employees first?
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Training- The Container Store is committed to giving its sales associates all the necessary tools to be successful on the sales floor and add value for customers. Full-time associates will undergo an average of 263 hours of training in their first year compared to 8 hours for most full-time associates at other retailers.
Fun- The Container Store centers its organization culture on having fun. The retailer sponsors such events as annual service awards celebrations for employees, an annual chili cook-off contest and hosting a “We Love our Employees Day” on Valentine’s Day. On this special day, employees received gifts, celebrations, and recognitions at all of The Container Store locations.
Benefits- The Container Store offers a comprehensive benefits package to its employees including health and dental. Recently, The Container Store announced that it would be offering its employees a discounted rate for Pet Insurance. The Container Store recognized that pets are a special part of employees’ lives.
Wages- The Container Store does not use a commission based program to compensate employees. Instead, The Container Store offers employees wages and salaries that are 50% higher than the retail industry average.
Creating a Fun work environment is an important part of The Container Store’s ______________________.
A) Organization Incentive B) Organization Growth C) Organization Culture D) Organization Commitment E) Organization Constitution
Health care, dental, and even pet insurance are all part of The Container Store’s _____________ package for employees.
A) Commitment B) Benefits C)Gift D)Product E)Selection
The Container Store is committed to a comprehensive ________________ program that lasts over 260 hours for all new employees. During this time, employees learn about products, corporate values, expectations, and customer service skills.
A) Organizational B) Training C) Invitational D) Streching E) Hiring
The Container Store does not offer ______________ or incentives to employees. Rather, The Container Store offers employees a salary or wage package that is typically 50% higher than the national retail industry average.
A) Commissions B) Statuses C) Balances D) Strategies E) policies
A clear indicator of employee satisfaction is The Container Store’s low annual _______________rate which is 90% lower than the national retail industry average.
A) Compensation B) Wage C) Functioning D) Satisfaction E) Turnover