G
gnjsdad
Guest
Sounds like in order to be competitive, you had to hire and keep skilled labor. Granted.Do you own a company? Have you ever created a job and hired a person? I have …every company is different and market forces do work. I never once hired a person at minimum wage. I did have to be competitive. My company competed with very large even multinational firms and with very small firms. It was difficult position …I could not afford the same salary and benefits of those huge multidisciplinary firms but I had to offer more than the very small sole proprietor …
I paid good wages more than twice the minimum for technical staff and several dollars more per hour for clerical and non technical staff. I paid 100% of my employees health insurance before the ACA, offered 6 paid holidays and a weeks paid vacation each year plus a 3% match to their Simple IRA … I had to do all of that to attract and keep high quality employees.
Yet…
To the contrary, offering $1 DOES work quite well. Not only large multinationals, but up and coming small business entrepreneurs do this. When they “move production overseas”, what they are doing is having their products made in places like China, Vietnam, Honduras, and Bangladesh where workers who manufacture their products might not even get $1 per hour in wages. It is Walmart’s business model . These places don’t have minimum wage laws. Many large scale manufacturers lobby hard against minimum wage laws here. Coincidence? A matter of principle?Merely offering $1 just wouldn’t work and won’t work long term to sustain a business.
Yes, it was absolutely meant to be an entry level wage. But many large corporations pay that “entry level wage” for 1, 2, and 3 or more years. After that it might get raised by 50 cents or so. Not nearly enough to help their workers.The arbitrary minimum wage is not helpful. They speak of it now days as needing to be a family living wage …but it was not envisioned as such when first adopted …it was supposed to be an entry level wage.
A business consists of the owners and the employees (wage earners). Without good workers, the business fails. The greatest generator of wealth is human labor. Workers need to be compensated justly, whether they are highly skilled technically, or interact with customers at the drive thru at McDonalds.It’s hard to start and sustain a business. Lots of startups fail. People risk a great deal to create a business, owners work hard …far more than 40 hours a week. They pour money, sweat and time into it at great risk. I would trust them rather than the government to know what they can pay and develop a growth plan for their business and employees.
Not when the employer knows there are 10 people ready and eager to accept the subsistence wage should one worker refuse it.No person is forced to accept the offered pay and is always free to negotiate and explain why they are worth more.