If you have worked to own something, you typically value its longevity and take better 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 them to share his commitment and vision for the company.
On the heels of the Great Depression, Mr. George wanted his associates to have a stake in the company. However, the 6 store associates weren't in a position to buy stock. So, 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 amount 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 believed one of the most important lessons he learned in his business career was that no one puts together an organization on their own.
Mr. George’s commitment to investing in associates continues to make Publix a great place to work.