Yes, Publix Is Employee-Owned. Here's How Its Employees Benefit

Publix is a popular Southern grocery chain that's been around for nearly a century. Its founder, George Jenkins, opened the first location in Florida in 1930, and though he died in 1996, his family still remains involved in the chain. But beyond family ownership, Publix employees also benefit from working for the brand; they're some of the only people who can own Publix stock.

Publix is not a publicly traded company, so regular people can't buy shares. The only people who can purchase Publix stock are board members and employees. Stock is available for purchasing during designated dates, so even those eligible to buy stock can't do so any time they want. As a result of allowing employees to buy stock, Publix has become the largest employee-owned United States company. To purchase stock, employees must work continuously for the company for one year before becoming eligible, and they must be active employees when they purchase the stock. The number of shares available to purchase depends on their work history with the company.

The decision to allow Publix employees to buy stock stems from George Jenkins' philosophy that he wanted a grocery store that benefitted both the customers and the staff. Jenkins wanted to develop a culture where people were proud to work for the company, and he believed that if employees were invested, literally, in their work place, they would want the company to succeed and would work harder to create a better shopping experience for the consumer.

A Reddit thread with alleged current and former employees highlights the benefits and drawbacks of working for the company, though many of the drawbacks stem from the retail side of the job rather than the employee benefits. Quite a few people raved about their roles with the company, with one person saying the brand rewards work milestones nicely, while another person said employees "...have above average benefits and the opportunity to become a wealthy stock owner." Keep in mind that Publix only exists in 11 states, so if you want to work for the brand, you might have to relocate.