Two peculiar things happened to me yesterday that I have to let out of the bag. The first event was when I went inside a QuikTrip gas station and saw the name badge of the cashier. It showed that she has been an employee there since 2005. Still in her mid 20s, she looked like the poster child of the upwardly mobile, young generation. That night I stopped by another QuickTrip to get a midnight snack and once again I saw another cashier with a name badge showing he has been working there since 2005. This shook me and so I point blank asked him if long term employees were given complementary shares of the company. He said that this was indeed the case, but also added that once employment ends, he must take the total sum out or put it in an IRA. This is due to the fact that QuikTrip isn’t a publicly traded company.
When the cashier confirmed my hunch, the pieces came together. I have always been treated with respect at QuikTrip. Plus, the place looks clean and is always fully stocked. There’s obviously an extraordinary culture fostered inside QuikTrip gas stations where EVERYONE profits… me, the employees and the especially corporate execs who are sitting on top of extreme gasoline sales.
Whenever I walk into a Lowes, I can expect to be disappointed. Employees there receive low pay and act like it. The rationale for keeping pay so low is that the savings can be passed on to the customer. But as for myself, I make it a habit to shop elsewhere because the employees at other stores make me feel more comfortable. QuikTrip values high grade customer service and so they go through great pains to invest in their employees… and people like me end up coming back.
I did some research on QuikTrip employee perks and this is what I found:
The employees that I spoke to yesterday benefit from a 401K matching program (50% rate up to 6% of their annual pay). Plus, they get money from QuickTrip’s pretax profit sharing program. And to address what the second cashier was talking about last night, he is able to take advantage of the Employee Stock Option Program where he automatically gets stock in the company.
When crunching the numbers, I learned that if both of those young employees were to quit today, they could be leaving with around $28,000 of free money plus $23,000 of their own nest egg that they had deducted from their paychecks. This nest egg can be tax free if moved to an IRA. Another shocker is that the average full time QuikTrip employee makes about $39,000 a year, about the same as a typical public school teacher. But when factoring in the QuikTrip benefits, it’s easy to see that a career there can be more financially rewarding.
That’s why I’m so bullish on America. Even the under privileged can rise up if they are smart enough to research their career options and willing to work hard. Although, we’ve become SCREWED UP in every way as of late I believe we have a system that is worth salvaging. It’s something that can’t replicated in the havens of socialism around us. We just have to learn to appreciate what we have and be willing speak out instead of playing possum. The air of indifference and normalcy bias that pervades our society has to change.