Our New York employment attorneys have witnessed the awful impact of wage cuts and lower salaries on working conditions and employee morale. But what happens when wages go up — when hourly rates are raised on a city, state, or federal level? It’s easy to see how wage hikes work out well for employees. But can wage hikes also benefit business owners and employers?
Our answer is an emphatic yes. Here are five ways that wage hikes benefit everyone:
1. Security and loyalty. Employees who have one well-paying job don’t need to constantly search for better employment. They don’t need to be working second jobs to make ends meet, leaving them exhausted and distracted at work. A well-paid employee has no incentive to go elsewhere and plenty of incentive to keep performance quality high.
2. Community goodwill. Money can’t buy everything; especially a good reputation. But in this case, a business with a reputation for paying its workers fairly, with high wages, develops a sense of benevolence and goodwill among its clients and customers, creating a place where everyone wants to do business.
3. History is on the side of workers. When we look back on 2014, some businesses will be noted for the way they embraced workers’ rights and dignity; others may be remembered for the ways they dragged their heels against better wages and working conditions.
4. Higher wages give business owners the pick of quality workers. If a business wants the highest quality workers – ones with more training, experience, or education – a higher starting wage can make the company more attractive to these great people.
5. Higher wages increases productivity. As mentioned before, many low-wage workers work two or more jobs. Having one job that pays really well can allow them to perform at their very best and be more productive and focused.
Do you believe that you or someone you love has been the victim of a wage or hour violation? Call our New York employment attorneys for a free consultation about your case at (212) 688-5640, or email us at firstname.lastname@example.org.