http://www.inc.com/magazine/201511/paul-keegan/does-more-pay-mean-more-growth.html
Assuming this is sarcasm, there are upper limits, of course.
A key to this, IMO, is that he made this decision on his own. The government didn't force him to do it.
Agreed. And his employees were never minimum wage types, they were all people bringing real financial value to the company with their skill set.
Agreed. Good companies treat their employees like team members who are vested in the company's success. Offer proper incentives and good employees will rise to the occasion. With that said, many employees don't have any particular value. Places like Walmart give such employees, who aren't Costco material, a job.
For me, I've always felt this way...even when I made less than half his new minimum salary. Feelings of appreciation and importance are influenced by multiple factors, not just salary.
if it's government mandated 9such as minimum wage) then yes.
Ah! Thanks! And so really and truly it isn't minimum wage.
We have something like that at my job. It's lovely. Once a company goes public it's over.
Publix is employee-owned also, through an ESOP. Last I looked, it was still the largest current one. The largest employee-owned company, until it went public a bit over a decade ago was SAIC. Within two years of the ouster of the founder, Dr. Beyster, it went public. He had let the board become dominated by people not committed to the idea of employee ownership. There are other factors - employees wanting to diversify investments, pressure for liquidity to pay off retiring senior employees, etc., but it's mostly just a desire on the part of employees to "cash out."
I will say that my raise earlier this year did motivate me to work harder to earn even more.
