CarMax 2008 Annual Report Download - page 6

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6| CARMAX 2008
Our corporate culture continues to make CarMax a truly exceptional place to
work. Working at CarMax involves an everyday commitment to customers,
communities, shareholders and each other. It is a commitment to maintaining
an enthusiastic, down-to-earth atmosphere where every associate and
customer is treated with respect. It is a commitment to continuous improve-
ment and innovation. It is a commitment to working hard while still
maintaining a healthy work-life balance. It is a commitment to having fun
with each other at work. It is a commitment to working together as a team to
build internal relationships, while often also giving of our time to serve the
needs of our communities.
At CarMax, we believe that “engaged” associates find personal fulfill-
ment in their jobs and build success not only for themselves, but for CarMax
and our shareholders. Through a partnership with the Gallup organization,
we have instituted an annual associate engagement benchmarking process,
striving to reach a goal of world-class associate engagement. We made
another leap forward in fiscal 2008, when we were one of only 20 global
companies to receive the Gallup Great Workplace Award.
Providing world-class training and development to our associates
continues to be a top priority for CarMax. This year, CarMax was named to
Training magazine’s Training Top 125. This publication annually selects 125
organizations worldwide that excel at associate development. On average,
OUR ASSOCIATES
ARE OUR MOST
IMPORTANT ASSET.
IF WE TAKE CARE
OF THEM,THEY WILL
TAKE CARE OF
CUSTOMERS,
AND THE REST
WILL TAKE CARE
OF ITSELF.
ASSOCIATES
CarMax store associates completed at least 15 online or classroom courses in the past twelve months. Over the last year,
we added nearly 70 new courses to KMX University, our online training and development center, and delivered more
than one million hours of training.
CarMax also focuses on providing our associates with the information and support they need to serve our cus-
tomers while also maximizing efficiency and profits to benefit our shareholders. For example, we continue to expand
and improve the information we provide to our buyers to help them pinpoint the value of each vehicle they appraise;
our system helps them turn an art into a science. In fiscal 2008, we implemented our new appraisal system, which also
provides our buyers with additional functionality, such as automatically estimating reconditioning costs for vehicles by
individual make, model and year. The new appraisal upgrade also includes printouts detailing information that help
our customers better understand the factors that influenced our offer.
CarMax continues to earn a variety of external awards that celebrate our unique culture. For the fourth year in
a row, we were named one of Fortune’s “100 Best Companies to Work For,” and this year we moved up in rank to within
the top 50 companies. This award, based on a confidential, random survey of associates, as well as an evaluation of
company culture, compensation, training and turnover, reflects CarMax’s commitment to providing a positive and
rewarding workplace environment where associates can deliver an unparalleled consumer experience.