Corkery, M. (2018, December 28). Sears is dying but workers’ loyalty lives on. The New York
Times. Retrieved from https://www.nytimes.com/2018/12/28/business/sears-retirees-
alumni-meetings.html
Former Sears employees still get together for an annual Christmas luncheon in Atlanta, Georgia. Truck drivers, former packagers, janitors, and other service workers continue to demonstrate a high degree of loyalty to Sears and reminisce about their former jobs at the company. Sears, once the largest retail employer in the United States, has long been passed up by modern takes on its innovation, like Amazon. In stark contrast to Amazon, however, Sears used to pay good wages, offer stock incentives, and retirement benefits that allowed many employees, like janitors, to live good, middle class lives. At this luncheon, there was a shared sense of pride in working for an American country that sold American products; employees referred to headquarters in Chicago as a “parent”. Sears was enormous in its day, with over 350,000 employees and amassing large storefronts and warehouses. Since the mid-1970s, however, hedge fund manager Edward Lampert took over much of the company ownership; with this shift, business changes were made, like no more pensions. As Sears encountered competition and changing markets, its market share decreased, and its ownership changed the relationship the company had with its employees through reducing benefits. After a merger with Kmart and further acquisition by Lampert, Sears was headed for bankruptcy, but loyal employees continue to shop in support of its current workers and their fond memories.
This article illustrated the power of treating employees well, taking care of their financial and social health, to build loyalty. This can benefit a company by creating free word-of-mouth advertising, as consumers increasingly care about “ethical” companies. The story of Sears employees builds a greater understanding of the power to enhance a company’s bottom line by taking care of its people, and my ability to communicate this.
LO3: address complex challenges by collaboratively leading teams across disciplines, distance, and sectors.
Comments