Hobby Lobby founder, David Green urges Fortune 500 companies to treat and pay their employees fairly
The Founder and CEO of Hobby Lobby, David Green credits his business success to operate the retail chains by Biblical principles including treating his staff fairly.
Hobby Lobby is a multibillion dollar company with over 500 stores
David Green explains to Theologyofwork.org why it’s beneficial for business owners to treat their employees fairly.
What do you look for in the people?
We look for integrity. I don’t care how much you know. I take people from manufacturing and bring them into the office. You could be the smartest person in the world, but if you don’t have integrity, you won’t be here. Our corporate officers are people I can depend on. They are truthful, and their families are important to them.
You always viewed the company as multiple store company; how have you gone about setting goals for work and life?
It’s ok to set goals as long as they are submitted goals. “God, if you want something different, then you’re welcome to interrupt us.” We will do $3 billion in sales this year. In six years, we’ll do $5 billion. You have to have some numbers out there where you think you’re going so you have the infrastructure to support it.
How do you define success in business?
Success is to be very profitable and take care of your people. Our minimum wage is $13 an hour. We’ve gone up $1 a year. Success isn’t just making a profit. It’s what you do with the money. If you’re not doing something that’s going to matter 500 years from now, then you’re not doing something great. Our first obligation is to take care of the people who got us here. They fight for us because we fight for them. If we’re successful and take care of our people, have no debt and continue to grow, then I don’t know what else you would need to do to be successful.
You give away half of the net profits?
Half of the profits, not the sales. We give to various ministries.
Recommended book – More Than a Hobby: How a $600 Startup Became America’s Home and Craft Superstore (Click here)
Video below – How David Green built Hobby Lobby from scratch