The last place I worked upped their minimum wage to $10 an hour. It certainly wasn’t because of benevolence or federal shifts…they slowly realized that when you pay the absolute minimum, you only attract the minimum talent, and most of those positions had very high turnover rates that were costing the company more than it’d be to just raise the starting pay rates.
Unfortunately in my state where the minimum wage is higher than the federal, many service industry companies refuse to learn that lesson. Or they think 16 cents above minimum wage is enough to attract top tier talent.
The last place I worked upped their minimum wage to $10 an hour. It certainly wasn’t because of benevolence or federal shifts…they slowly realized that when you pay the absolute minimum, you only attract the minimum talent, and most of those positions had very high turnover rates that were costing the company more than it’d be to just raise the starting pay rates.
It was cheaper to pay those positions more money.
Unfortunately in my state where the minimum wage is higher than the federal, many service industry companies refuse to learn that lesson. Or they think 16 cents above minimum wage is enough to attract top tier talent.