We want to turn our inventory faster than our people.
Meaning of the quote
The quote means that companies should try to sell their products faster than they can hire and train new employees. This helps businesses make more money by getting products out the door quickly, rather than focusing only on hiring more people. The goal is to use resources efficiently and keep up with customer demand.
About James Sinegal
James Sinegal is an American billionaire businessman and co-founder of Costco Wholesale Corporation. As CEO, he was known for his hands-on, humanitarian approach, prioritizing customer and employee satisfaction over shareholder interests. Sinegal is also recognized for his philanthropic efforts.
More quotes from James Sinegal
In the final analysis, you get what you pay for.
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If we take care of the business and keep our eye on the goal line, the stock price will take care of itself.
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It doesn’t do Costco any good if nobody can afford to buy anything.
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One of the strengths of our nation has always been a strong middle class who could afford their own homes and send their children to school.
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We’ve always been in favor of improved wages for workers. When you have a strong middle class, they want to buy more stuff at Costco.
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We always strive to be the best in the wage package.
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You just can’t get too focused on worrying about what’s going to happen in the next quarter. You have to worry about where the business is headed long-term.
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We would rather have our employees running our business.
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We are a company that promotes 100% within the company.
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We want to turn our inventory faster than our people.
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You destroy the initiative of the working people if they don’t feel they have a fighting chance to be a part of the American Dream.
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When employees are happy, they are your very best ambassadors.
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You don’t have a very motivated working class, it starts to affect the dynamics of the economy. If workers are disenchanted and disenfranchised, productivity losses will go along with that.
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