If you have worked to own something, you value its longevity and take care of it. There is pride in ownership. You look to the future with promise and seek out how you can improve upon your initial investment.
That’s why our founder, Mr. George, extended stock ownership to his associates at the very first Publix store. He wanted his associates to share in his commitment and vision of building a company.
On the heels of the Great Depression, Mr. George wanted his associates to have a stake in the company. However, the 6 associates who didn't already have stock weren't in a position to buy any. To ensure they all could be stockholders, Mr. George gave them each a $2 a week raise, sold them 1 share of stock each for $100 and withheld the raise money to pay for the stock. In 50 weeks, they had paid it off. With this strategy, everybody working for the store was a stockholder and a company owner.
Mr. George once said, “One of the most important lessons I’ve learned in my business career is that no man puts together an organization on his own.”
Read more about the Publix Culture and learn about how Mr. George’s commitment to investing in associates continues to make Publix a great place to work.
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