In 1971, we took our first big step: we corrected my big error of the year before, and started a profit-sharing plan for all the associates. I guess it’s the move we made that I’m proudest of, for a number of reasons. Profit sharing has pretty much been the carrot that’s kept Wal-Mart headed forward. Every associate of the company who has been with us at least a year, and who works at least 1,000 hours a year, is eligible for it. Using a formula based on profit growth, we contribute a percentage of every eligible associate’s wages to his or her plan, which the associate can take when they
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