After 40 Years at the Checkout, 'Retirement Savings of 15 Billion Won'... Costco's 'Hourly Wage of 50,000 Won' Shock, With Reason

US retail giant Costco is gaining attention for its management strategy that enhances employee expertise through high wages, robust benefits, and long-term employment policies, linking it to improved customer service and performance. The Wall Street Journal highlighted the case of Tony Bajzar, a 60-year-old cashier in Tucson, Arizona, who worked at Costco for nearly 40 years. Bajzar joined Costco's predecessor Price Club in 1986 and now oversees self-checkout counters. His hourly wage of 32.90 dollars (about 49,000 won) is approximately 70% higher than the US average for cashiers. His 401(k) account holds over 10 million dollars (about 15 billion won). Medical benefits are also comprehensive, with out-of-pocket costs for routine care at 15 dollars and specialist visits at 25 dollars, significantly lower than US averages. Bajzar's family purchased a three-bedroom home with a pool in 2009 and undertook two European trips in the past decade. Costco evaluates long-term employees as core assets, transmitting operational expertise and corporate culture to future generations. Managers are trained to treat cashiers as professionals shaping customer experiences rather than mere laborers. Bajzar is recognized as a critical operator for self-checkout, with the store leveraging experienced staff's expertise to optimize efficiency. This approach combines the 'Efficiency Wage' theory from economics with the 'Good Jobs' strategy from management, offering higher wages to attract talent, reduce turnover, and boost productivity through stable work environments and training. MIT Sloan Professor Jaynep Torn notes in his book 'The Power of Good Jobs' that high wages, stable hours, sufficient training, standardized systems, and on-the-job autonomy are key to enhancing retail productivity.