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+--- Thread: Company Near Seattle Introduces $70K Minimum Wage (/showthread.php?tid=178342)
Re: Company Near Seattle Introduces $70K Minimum Wage - rgG - 04-16-2015
Lemon Drop wrote:
This isn't charity, it's a smart business move. These employees will be more loyal and work harder than before, which will reap dividends for the company. I think this guy is very savvy about the future, and about the labor market he's in. We'll see how he's doing in 5 years.
“This is a capitalist solution to a social problem,” Price said. “I think it pays for itself, I really do.”
I disagree.
Re: Company Near Seattle Introduces $70K Minimum Wage - sekker - 04-16-2015
What IS true - in some jobs, a great person is worth 10x what an average person is worth.
He's saying he has the top employees. That's great.
But to imply that he is defining a minimum wage is ridiculous.
Re: Company Near Seattle Introduces $70K Minimum Wage - Lemon Drop - 04-16-2015
rgG wrote:
[quote=Lemon Drop]
This isn't charity, it's a smart business move. These employees will be more loyal and work harder than before, which will reap dividends for the company. I think this guy is very savvy about the future, and about the labor market he's in. We'll see how he's doing in 5 years.
“This is a capitalist solution to a social problem,” Price said. “I think it pays for itself, I really do.”
I disagree.
I understand your point of view. There's always the risk that this won't work out for his company. And I agree with you that this isn't likely to catch on as a super popular idea with business owners.
Re: Company Near Seattle Introduces $70K Minimum Wage - August West - 04-16-2015
While this particular incident is an outlier, companies investing in their people is an excellent strategy for achieving rewards. I think it is worth mentioning, and I think it has emerged as a cutest in this thread, that highly selective hiring is a key part of this strategy. Low and non performers will not last long in such an environment, and rightfully so.
I can only speak for myself, but working in a highly rewarded environment with an expectation of strong achievement is exponentially better than an environment of people just putting in their time.