Profile of Wegmans: A Golden Rule Leader
One of five CEOs highlighted in the Enterprise Engagement Alliance’s book, Enterprise Engagement for CEOs, Colleen Wegman and the company she runs embodiy the principles of stakeholder capitalism and the Golden Rule:optimizing returns for investors only by creating value for customers, employees, distribution and supply chain partners, communities and the environment. Click here to nominate a leader or organization you believe is worthy of this designation.Click here to subscribe to the ESM weekly e-newsletter.
Even in the jaded New York City area, the arrival of a Wegmans store makes news. Many fans drive or take mass transit for miles for what many feel is the ideal combination of high-quality products, great service, and competitive prices.
In receiving this designation, she and Wegmans join:
ASML, Christophe Fouquet, CEO, ASML
Garry Ridge, CEO Emeritus, WD-40
Delta Airlines, Ed Bastion, CEO
CSX Railroad, Joe Hinrichs, CEO
R. Edward Freeman, Professor, Darden School at University of Virgina
JUST Capital, Chief Advocate for Stakeholder Capitalism
Costco, Ron Vachris, CEO, Director
Even in the jaded New York City area, the arrival of a Wegman’s store makes news. Many fans drive or take mass transit for miles for what many feel is the ideal combination of high-quality products, great service, and competitive prices.
The Enterprise Engagement Alliance has featured the company in the past as an example of an organization with a strategic people engagement strategy consistent with ISO 10018 people engagement standards.
.png)
Although the privately held company does not release financials, it continues to expand, with 111 stores employing about 53,000 people. It was founded in 1916 by the same family that owns it today.The company gets consistently high customer satisfaction rankings from American Customer Satisfaction Index, especially in the Northeast US where it is better known. It gets a healthy 4.0 rating from Yelp users as well.
On Glassdoor, the company earns a spectacular 5.0 rating; 84% approve of CEO Colleen Wegman. Glassdoor consistently gives it a Best Place to Work designation.
No company as large as Wegmans makes everyone happy all the time, but the world would be a better place if every company had this generous of a pay and benefits package, including a commitment to work-life balance, career development, and ROI-based DEI (diversity, equity, inclusion). It publishes an annual sustainability report focusing on the impact of its initiatives related to employees, diversity and inclusion, sustainability, community giving, and healthy living.
Click here for more information on its employee-first commitments.
Click here for profiles of the growing list of Golden Rule companies and leaders.
Click here to nominate a leader or organization you believe is worthy of this designation.
Enterprise Engagement Alliance Services
Celebrating our 15th year, the Enterprise Engagement Alliance helps organizations enhance performance through:1. Information and marketing opportunities on stakeholder management and total rewards:
- ESM Weekly on stakeholder management since 2009. Click here to subscribe; click here for media kit.
- RRN Weekly on total rewards since 1996. Click here to subscribe; click here for media kit.
- EEA YouTube channel on enterprise engagement, human capital, and total rewards since 2020
Management Academy to enhance future equity value for your organization.3. Books on implementation: Enterprise Engagement for CEOs and Enterprise Engagement: The Roadmap.
4. Advisory services and research: Strategic guidance, learning and certification on stakeholder management, measurement, metrics, and corporate sustainability reporting.
5. Permission-based targeted business development to identify and build relationships with the people most likely to buy.
Contact: Bruce Bolger at TheICEE.org; 914-591-7600, ext. 230.
