From time to time we find stories that are a slight departure from time and attendance, explore it and then share it, if we think it will add some value for our readers. The story about a small coffee shop called CSI Coffee Pub and some of the good things that its owners are doing caught our eye. Apparently the owners of this establishment pay their employees above the minimum wage. And, after six months, full time employees are eligible for an ownership stake. Of course this begs the question, why would a coffee shop, that’s not a multimillion dollar operation, choose to do this?
This quote from part co-owner Erin Cluley, gives some insight into the company’s philosophy; “We could use cheaper ingredients and pay the staff less and make more money. We know that this way isn’t going to get us wealthy but we believe in the model,” We believe if we are patient, we can make a big difference. We want to show there’s another way to run a business that’s not just profit for its own sake.”
The obvious questions will come up. Is this a growing movement and does this work? Who in their right minds are going to pay employees $50,000k a year when they can get by with paying them $30,000K? If this is a growing movement, then it’s nothing new. Companies like; Google, Lee Valley Tools, West Jet Airlines, Starbucks, Costco and host of other companies have been doing this for years. Employees who work for these companies enjoy generous benefit packages, lots of paid vacation time, personal time off when needed, part ownership etc.
The intent behind this is good and as time goes on, it will be interesting see if the idea catches on with the small majority of companies whose interest lie solely with the happiness and well being of shareholders as opposed to stakeholders.
Richard G. Wilkinson and Kate Pickett authored “The Spirit Level: why more equal societies almost always do better.” They make the case, that equal societies are much better. And while the book centres on inequality in several countries around the world, several of its passages can be attributed to the world of business. At the very least, it’s a fascination read.
