Qn no 2. Describe the culture at the Container Store.
How has this helped them?
· The container Store follows “the employee first” culture.
· TCS focuses in bringing great people on board, paying them well above the industry average, providing training and development opportunities
· The organization believes that success lies when the organization is surrounded by talented, passionate and kind people.
· The Container Store has kept its employees as its utmost priority.
· In order to equip its employees all kinds of work related skills, it provides an opportunity of various trainings from the start of their job and throughout.
· The company believes in paying the employees above industry average with that it believes to get three times the productivity.
· The organization supports the employees in the best possible ways.
· TCS believes that if employees are properly taken care of, they in return take care of the entire company and their customers more properly.
· TCS has invested in employees’ happiness and their overall development.
· TCS provides a flexible work schedule to all its employees.
· TCS has never done layoffs nor cut the employee benefits.
How has this helped TCS?
Employee First culture has benefitted TCS in various ways.
· Low Turnover rate
The company’s employee first culture contributed to employee loyalty which can be seen through low turnover rate. Employee Turnover rate at TCS is 105 or less annually. Low Turnover indicates that employees are satisfied with their work and working environment. This signifies the consistency of the work environment that ultimately helps the company to be productive. Employees are better at performing their specific roles. Employees are more loyal towards their job which helps a company flourish. TCS can focus its time and resources on business rather than adapting the new employees.
· Consistent Growth
TCS has experienced a consistent growth because of its employee oriented organizational culture.
QnNo2. In your group’s opinion, what role do the Foundation Principles play in the Container Store’s success? To what extent do these principles fit with how the stores are operated and jobs are designed, as of April 2016?
One of the key to success of any organization is adaptability, consistency, employee involvement and clear mission and customer satidfaction.Seven foundation principles of TCS revolve around these key factors ultimately leading to the success.
· TCS believe that one great person equals to three good people in terms of business productivity. They have made their hiring policy based on this belief which lands them with great employees who involve in their work and produce consistent outcome. This kind of policy ultimately helps a company land with only genuine and passionate employees who result in the productivity.
· Communication helps an organization flourish. The transparency in communication process and involvement of every person in the organization in exchange of messages helps a company perform better in all aspect.
· Fill the other guy’s basket to the brim. Making money then becomes an easy proposition.
TCS believes the key to create a mutually beneficial relationship with merchants is to provide them everything they need. That is why paying the vendors in time has led to the success of the company.
· Man, in the desert Selling.
This principle guides the TCS to provide the best customer service. Employees at The Container Store are trained to meet all the customers’ requirements, some of which the customers might not be aware of. This principle has led the company establish an outstanding relation with their customers. Thus, with amazing customer service, the company is able to succeed in the market.
· Air of excitement.
TCS believes excitement to be contagious. That is why, it hires enthusiastic employees to serve its customers. This helps to improve the relationship of the company with their consumers leading to the success
· TCS has adopted the best selection along with the best service and pricing policy. All these combined has helped the company grow and stand out among its competitors.
TCS is committed and responsible towards its employees. It understands that equipping the employees with the best service and skills help a company to perform better. This principle has helped the company anticipate the needs of the employees. Providing various effective trainings to the employees help employees develop the skills that help in proper and smooth functioning of the company.