The Container Store has long been a valued company in my household, so the store was a go-to when I went to college. The store has a huge, invite-only sale for college students one night each year. At each of these events, I found employees to all be very friendly and helpful, extremely organized and efficient, and seemingly having fun. I distinctly recall admiring their ability to remain to upbeat on such as long and busy evening of work. However, this culture may have drastically declined in the last couple of years.
The Container Store (TCS) is ranked #27 on Fortune’s “100 Best Companies to Work for 2015”. According to many recent reviews on Glassdoor, TCS has become much more about the bottom-line than about “employees-first” since going public in late 2013. Employees are being singled out and punished for small mistakes (such as tardiness) while any errors by management are continuously, and blatantly, overlooked. Management has placed much more concern on close time management and payroll control. One past-employee even notes how common it has become for tenured employees to be bullied into signing resignation forms if management no longer wants them employed. How is this ethical?
According to Business Insider, The Container Store founder and CEO Kip Tindell widely claims his employees make $50,000 annually. A Glassdoor reviewer notes this is far from reality. This current employee states the company has been aggressively pushing this number in a recent PR campaign. Is it ethical to broadcast this information to the public when only a very small percentage of employees possibly earn this salary? TCS has been named to Fortune’s list 15 years running, and its CEO Kip Tindell, was elected Chairman of the National Retail Federation (NRF) Board of Directors this past January. Tindell claims he hopes to carry over to all retail his emphasis on stakeholders, especially employees. Considering the influence NRF has on Capital Hill, it will be interesting to see what this entails if the reviews on Glassdoor hold true.
The following video alludes to Bloomberg’s own analysis of the balance of values at The Container Store. Perhaps Bloomsberg should read over the reviews on Glassdoor.
Featured image credit: snapshot from NYSE’s YouTube video of The Container Store’s IPO
Author’s note: This post deviates from an analysis of The Container Store’s impact on the world, but I felt compelled to analyze the company more internally after reading many employee reviews.