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Increase in the minimum wage

BLR_BobBLR_Bob 1 Post
in Compensation Vote Up0Vote Down

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?

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  • 3 Comments sorted by Votes Date Added
  • SFbaySFbay 156 Posts
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    The increase won't affect us because we are in San Francisco, where the minimum wage is $9.14 this year and is indexed to inflation. This year companies in our city will also have to offer paid sick leave to their employees. It will be tough for some companies to do, but we are lucky because our company already offers paid sick leave that is more generous than what the city requires.
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  • kyliefankyliefan 54 Posts
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    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.

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  • hr410hr410 61 Posts
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    I agree with kyliefan - although we do have a significant number of hourly employees, I think the rise in minimum wage is overdue!
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