Increase in the minimum wage
BLR_Bob
1 Post
The House of Representatives has voted in favor of an increase in the federal minimum wage to $7.25 (over the course of several years).<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Will this be a good thing, a bad thing, or a nothing for your organization?
Comments
I know this might go against the grain of what many other employers are thinking, but I think a minimum wage increase is long overdue.
Given our industry (retail) it's not a shock that we have a lot of turnover, but it is sky high among the lowest paying jobs. Many of our entry-level jobs start a minimum wage and stay there until the employee has been with us 6 months. For our business, I think the turnover costs (hiring, training etc.) that we will hopefully save will nearly offset the increase. I'd trade higher wages for a little more stability/longevity/experience in our staff as a whole.